Charles Schwab Investment Management Inc. Has $25.54 Million Stock Holdings in Sonos, Inc. (NASDAQ:SONO)

Charles Schwab Investment Management Inc. raised its stake in Sonos, Inc. (NASDAQ:SONO) by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,698,371 shares of the company’s stock after acquiring an additional 119,595 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.41% of Sonos worth $25,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NBW Capital LLC raised its holdings in Sonos by 42.6% in the 4th quarter. NBW Capital LLC now owns 256,134 shares of the company’s stock valued at $3,852,000 after acquiring an additional 76,454 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Sonos during the 4th quarter worth $30,000. Smartleaf Asset Management LLC raised its holdings in shares of Sonos by 191.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock worth $39,000 after buying an additional 1,721 shares in the last quarter. US Bancorp DE raised its holdings in shares of Sonos by 5.2% during the 4th quarter. US Bancorp DE now owns 43,722 shares of the company’s stock worth $658,000 after buying an additional 2,153 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Sonos by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 593,671 shares of the company’s stock worth $8,929,000 after buying an additional 20,397 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Sonos Stock Performance

Sonos stock opened at $11.34 on Wednesday. The stock has a market capitalization of $1.35 billion, a P/E ratio of -19.89 and a beta of 1.98. Sonos, Inc. has a 52 week low of $10.23 and a 52 week high of $19.76. The stock has a fifty day moving average of $13.36 and a 200-day moving average of $13.28.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts forecast that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos announced that its Board of Directors has authorized a share repurchase program on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

About Sonos

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.