11,270 Shares in Sonos, Inc. (NASDAQ:SONO) Acquired by Cibc World Markets Corp

Cibc World Markets Corp purchased a new stake in shares of Sonos, Inc. (NASDAQ:SONO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,270 shares of the company’s stock, valued at approximately $170,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royce & Associates LP acquired a new position in shares of Sonos in the 4th quarter valued at about $357,000. Ironwood Investment Management LLC lifted its position in Sonos by 4.0% during the fourth quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company’s stock valued at $702,000 after buying an additional 1,782 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Sonos by 9.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 960,187 shares of the company’s stock worth $14,441,000 after acquiring an additional 82,429 shares in the last quarter. Amundi increased its position in shares of Sonos by 189.7% in the fourth quarter. Amundi now owns 61,717 shares of the company’s stock worth $910,000 after acquiring an additional 40,413 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Sonos in the 4th quarter valued at $1,676,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Sonos Trading Down 1.5 %

Shares of SONO stock opened at $11.45 on Thursday. The firm has a fifty day simple moving average of $13.02 and a 200-day simple moving average of $13.26. The company has a market capitalization of $1.36 billion, a PE ratio of -20.09 and a beta of 1.98. Sonos, Inc. has a twelve month low of $10.23 and a twelve month high of $19.35.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.17%. Equities research analysts predict that Sonos, Inc. will post -0.37 EPS for the current year.

Sonos declared that its Board of Directors has initiated a share 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 shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

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 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.