2 weeks Ago By ABMN Staff
JPMorgan Chase & Co. lowered its position in Sonos, Inc. ( NASDAQ:SONO – Free Report ) by 6.
6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,186,328 shares of the company’s stock after selling 293,913 shares during the period. JPMorgan Chase & Co.
owned 3.47% of Sonos worth $62,962,000 at the end of the most recent quarter. Several other institutional investors and hedge funds also recently added to or reduced their stakes in SONO.
SBI Securities Co. Ltd. purchased a new position in shares of Sonos in the fourth quarter worth about $30,000.
Mountain Hill Investment Partners Corp. purchased a new position in Sonos in the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted 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 purchasing an additional 1,721 shares during the last quarter. GAMMA Investing LLC lifted its position in Sonos by 50.
1% during the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company’s stock worth $61,000 after buying an additional 1,352 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Sonos by 52.
6% in the 4th quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $111,000 after acquiring an additional 2,551 shares during the last quarter. Institutional investors and hedge funds own 85.
82% of the company’s stock. Sonos Price Performance Shares of Sonos stock opened at $8.60 on Friday.
The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -15.09 and a beta of 1.
98. Sonos, Inc. has a 12 month low of $7.
95 and a 12 month high of $18.69. The business has a 50-day moving average of $12.
48 and a 200 day moving average of $13.18. Sonos announced that its board has initiated a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $150.
00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases.
Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued. Wall Street Analysts Forecast Growth Separately, Rosenblatt Securities restated a “buy” rating and set a $18.00 price objective on shares of Sonos in a research report on Friday, February 7th.
Check Out Our Latest Research Report on Sonos Sonos Profile ( Free Report ) 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.
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