Sonos (NASDAQ:SONO) Major Shareholder Coliseum Capital Management, L Acquires 360,000 Shares of Stock

Sonos, Inc. (NASDAQ:SONO) major shareholder Coliseum Capital Management, L acquired 360,000 shares of Sonos stock in a transaction that occurred on Monday, February 23rd. The shares were bought at an average price of $14.90 per share, for a total transaction of $5,364,000.00. Following the transaction, the insider owned 16,670,563 shares of the company’s stock, valued at $248,391,388.70. This represents a 2.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Coliseum Capital Management, L also recently made the following trade(s):

• On Wednesday, February 25th, Coliseum Capital Management, L acquired 118,020 shares of Sonos stock. The shares were purchased at an average price of $15.25 per share, with a total value of $1,799,805.00.
• On Tuesday, February 24th, Coliseum Capital Management, L bought 133,259 shares of Sonos stock. The stock was purchased at an average price of $14.83 per share, for a total transaction of $1,976,230.97.
• On Tuesday, February 17th, Coliseum Capital Management, L purchased 290,000 shares of Sonos stock. The shares were purchased at an average price of $15.59 per share, with a total value of $4,521,100.00.
• On Friday, February 13th, Coliseum Capital Management, L acquired 257,210 shares of Sonos stock. The stock was acquired at an average price of $15.74 per share, for a total transaction of $4,048,485.40.
• On Thursday, February 12th, Coliseum Capital Management, L bought 100,000 shares of Sonos stock. The shares were acquired at an average cost of $16.11 per share, with a total value of $1,611,000.00.
• On Friday, February 6th, Coliseum Capital Management, L bought 26,824 shares of Sonos stock. The stock was acquired at an average price of $16.49 per share, for a total transaction of $442,327.76.
• On Thursday, February 5th, Coliseum Capital Management, L purchased 211,530 shares of Sonos stock. The stock was acquired at an average cost of $16.29 per share, for a total transaction of $3,445,823.70.
• On Wednesday, February 4th, Coliseum Capital Management, L purchased 494,719 shares of Sonos stock. The shares were acquired at an average price of $15.50 per share, with a total value of $7,668,144.50.

Sonos Price Performance

Shares of NASDAQ:SONO traded up $0.60 during midday trading on Wednesday, reaching $15.40. 1,392,723 shares of the company’s stock were exchanged, compared to its average volume of 2,391,958. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -90.59 and a beta of 2.05. Sonos, Inc. has a fifty-two week low of $7.63 and a fifty-two week high of $19.82. The firm’s 50 day simple moving average is $16.32 and its two-hundred day simple moving average is $16.21.

Sonos (NASDAQ:SONO) last announced its earnings results on Tuesday, February 3rd. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.08. Sonos had a negative net margin of 1.22% and a positive return on equity of 0.82%. The company had revenue of $545.66 million during the quarter, compared to analyst estimates of $536.93 million. During the same quarter last year, the firm posted $0.64 earnings per share. Sonos’s revenue was down .9% compared to the same quarter last year. Equities research analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley set a $18.00 price objective on Sonos in a research note on Wednesday, February 4th. Rosenblatt Securities restated a “buy” rating and set a $21.00 target price on shares of Sonos in a report on Monday, February 2nd. Wall Street Zen upgraded shares of Sonos from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Zacks Research raised shares of Sonos from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sonos in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Key Sonos News

Here are the key news stories impacting Sonos this week:

• Positive Sentiment: Coliseum Capital increased its stake through multiple purchases this week (totaling several hundred thousand shares across Feb. 23–25), signaling confidence from a major shareholder and adding buying pressure. The SEC filing shows the purchases and the enlarged position. Coliseum Capital SEC Filing
• Positive Sentiment: Short interest fell ~15.8% month-over-month to ~9.15M shares (7.7% of float) as of Feb. 13, reducing potential short-covering risk and lowering a bearish technical overhang. This improves the supply/demand dynamics for the stock.
• Positive Sentiment: Sonos announced it will participate in the Morgan Stanley Technology, Media & Telecom conference — a chance to update investors and analysts on strategy, outlook and product road map. Sonos Announces Participation in Morgan Stanley Conference
• Positive Sentiment: Product and app improvements are being rolled out — Sonos plans a Live Activities feature and an app overhaul to improve iOS integration and user experience, which could support better retention and sales. Sonos plans to fix its biggest iOS hurdle with a new Live Activities feature Sonos Planning Another App Overhaul With Live Activities Support
• Neutral Sentiment: Recent reviews continue to position Sonos as a reference product in the soundbar category — favorable press supports brand premium but may not immediately translate into near-term revenue upside. This Sonos soundbar rival tries its best…

Institutional Trading of Sonos

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Sonos by 10.2% in the fourth quarter. GAMMA Investing LLC now owns 6,832 shares of the company’s stock worth $120,000 after acquiring an additional 631 shares during the last quarter. Centaurus Financial Inc. raised its holdings in shares of Sonos by 6.6% in the 3rd quarter. Centaurus Financial Inc. now owns 11,056 shares of the company’s stock valued at $175,000 after purchasing an additional 681 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Sonos by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 31,970 shares of the company’s stock worth $505,000 after purchasing an additional 706 shares during the last quarter. State of Wisconsin Investment Board lifted its position in shares of Sonos by 1.7% during the 4th quarter. State of Wisconsin Investment Board now owns 43,982 shares of the company’s stock worth $772,000 after purchasing an additional 724 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Sonos by 0.7% during the fourth quarter. Intech Investment Management LLC now owns 117,718 shares of the company’s stock worth $2,067,000 after purchasing an additional 776 shares in the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Sonos Company Profile

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company’s core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.