Handelsbanken Fonder AB Sells 3,600 Shares of Sonos, Inc. (NASDAQ:SONO)

Handelsbanken Fonder AB reduced its position in shares of Sonos, Inc. (NASDAQ:SONO) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,100 shares of the company’s stock after selling 3,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sonos were worth $603,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SONO. Gladius Capital Management LP bought a new position in shares of Sonos in the third quarter valued at about $30,000. KBC Group NV raised its position in shares of Sonos by 52.5% in the third quarter. KBC Group NV now owns 4,852 shares of the company’s stock valued at $60,000 after purchasing an additional 1,670 shares during the period. GAMMA Investing LLC raised its position in shares of Sonos by 50.1% in the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company’s stock valued at $61,000 after purchasing an additional 1,352 shares during the period. International Assets Investment Management LLC raised its position in shares of Sonos by 927.0% in the third quarter. International Assets Investment Management LLC now owns 7,497 shares of the company’s stock valued at $92,000 after purchasing an additional 6,767 shares during the period. Finally, Hohimer Wealth Management LLC bought a new position in shares of Sonos in the third quarter valued at about $148,000. 85.82% of the stock is owned by institutional investors.

Sonos Stock Performance

SONO stock opened at $13.22 on Friday. The company’s 50-day simple moving average is $14.01 and its 200 day simple moving average is $13.22. Sonos, Inc. has a 52 week low of $10.23 and a 52 week high of $19.76. The company has a market capitalization of $1.57 billion, a PE ratio of -23.19 and a beta of 1.97.

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

Sonos declared that its board has approved a stock buyback plan on Monday, February 24th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

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

Sonos Company 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.