WNY Asset Management LLC Has $193,000 Stock Holdings in Sonos, Inc. (NASDAQ:SONO)

WNY Asset Management LLC decreased its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,808 shares of the company’s stock after selling 1,175 shares during the period. WNY Asset Management LLC’s holdings in Sonos were worth $193,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Coliseum Capital Management LLC raised its holdings in shares of Sonos by 50.3% in the fourth quarter. Coliseum Capital Management LLC now owns 10,734,013 shares of the company’s stock valued at $161,440,000 after purchasing an additional 3,590,782 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Sonos in the fourth quarter valued at about $18,125,000. Point72 Asset Management L.P. purchased a new stake in shares of Sonos in the fourth quarter valued at about $13,057,000. Barclays PLC raised its holdings in shares of Sonos by 120.3% in the third quarter. Barclays PLC now owns 923,437 shares of the company’s stock valued at $11,350,000 after purchasing an additional 504,293 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Sonos by 14.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,187,522 shares of the company’s stock valued at $47,940,000 after purchasing an additional 408,479 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Sonos Stock Performance

NASDAQ SONO opened at $9.69 on Monday. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $16.34. The company has a 50-day simple moving average of $9.68 and a 200 day simple moving average of $12.34. The company has a market capitalization of $1.16 billion, a PE ratio of -17.00 and a beta of 2.06.

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Jefferies Financial Group lowered their target price on shares of Sonos from $19.00 to $13.00 and set a “buy” rating for the company in a report on Monday, April 7th. Rosenblatt Securities decreased their price objective on shares of Sonos from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 8th.

Insider Buying and Selling

In other Sonos news, major shareholder Coliseum Capital Management, L bought 147,157 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $9.17 per share, for a total transaction of $1,349,429.69. Following the completion of the transaction, the insider now directly owns 12,055,582 shares of the company’s stock, valued at $110,549,686.94. This trade represents a 1.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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.