Landscape Capital Management L.L.C. Sells 179,266 Shares of Sonos, Inc. (NASDAQ:SONO)

Landscape Capital Management L.L.C. trimmed its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 64.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,655 shares of the company’s stock after selling 179,266 shares during the period. Landscape Capital Management L.L.C. owned about 0.08% of Sonos worth $1,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in Sonos in the fourth quarter worth about $30,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Sonos during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its holdings in shares of Sonos by 191.2% in 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 period. GAMMA Investing LLC lifted its stake in 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 last quarter. Finally, Headlands Technologies LLC bought a new position in Sonos during the fourth quarter valued at $84,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Sonos Stock Down 3.4 %

NASDAQ SONO opened at $8.60 on Friday. The company’s 50 day moving average is $12.48 and its 200-day moving average is $13.18. The firm has a market cap of $1.02 billion, a P/E 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.

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

Sonos declared that its board has authorized a share buyback plan on Monday, February 24th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.