American Century Companies Inc. Increases Holdings in Sonos, Inc. (NASDAQ:SONO)

American Century Companies Inc. increased its stake in Sonos, Inc. (NASDAQ:SONO) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 388,743 shares of the company’s stock after acquiring an additional 71,448 shares during the period. American Century Companies Inc. owned approximately 0.32% of Sonos worth $5,847,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in Sonos by 23.4% during the third quarter. Wellington Management Group LLP now owns 3,303,017 shares of the company’s stock valued at $40,594,000 after acquiring an additional 626,172 shares during the last quarter. Barclays PLC boosted its stake in shares of Sonos by 120.3% during the 3rd quarter. Barclays PLC now owns 923,437 shares of the company’s stock worth $11,350,000 after purchasing an additional 504,293 shares during the period. Nisa Investment Advisors LLC grew its holdings in Sonos by 7,557.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 156,049 shares of the company’s stock valued at $2,347,000 after purchasing an additional 154,011 shares during the last quarter. Systematic Financial Management LP raised its position in Sonos by 19.0% in the 3rd quarter. Systematic Financial Management LP now owns 910,354 shares of the company’s stock worth $11,188,000 after purchasing an additional 145,091 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Sonos by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,698,371 shares of the company’s stock worth $25,544,000 after purchasing an additional 119,595 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

Sonos Stock Performance

Shares of Sonos stock opened at $8.60 on Friday. The company has a market capitalization of $1.02 billion, a PE ratio of -15.09 and a beta of 1.98. The company has a 50-day simple moving average of $12.48 and a two-hundred day simple moving average of $13.18. Sonos, Inc. has a one year low of $7.95 and a one year high of $18.69.

Sonos (NASDAQ:SONO) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Sonos had a negative return on equity of 13.17% and a negative net margin of 4.73%. On average, equities analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Sonos announced that its board has approved a stock buyback program on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $18.00 price target on shares of Sonos in a report on Friday, February 7th.

Sonos Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.