Fox Run Management L.L.C. Sells 39,681 Shares of Sonos, Inc. (NASDAQ:SONO)

Fox Run Management L.L.C. cut its holdings in Sonos, Inc. (NASDAQ:SONO) by 78.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,204 shares of the company’s stock after selling 39,681 shares during the period. Fox Run Management L.L.C.’s holdings in Sonos were worth $169,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Sonos during the fourth quarter worth $30,000. Smartleaf Asset Management LLC grew its position in shares of Sonos by 191.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock valued at $39,000 after purchasing an additional 1,721 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Sonos by 50.1% during the 4th 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. KBC Group NV lifted its holdings in Sonos by 52.6% during the 4th quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $111,000 after purchasing an additional 2,551 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in Sonos in the 4th quarter worth about $170,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Sonos Stock Performance

Sonos stock opened at $10.78 on Friday. Sonos, Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $19.33. The stock has a market cap of $1.28 billion, a P/E ratio of -18.91 and a beta of 1.98. The firm’s fifty day moving average price is $12.90 and its 200-day moving average price is $13.24.

Sonos (NASDAQ:SONO) last announced its earnings results 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%. Sell-side analysts predict 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 plan on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors 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.