Sonos (NASDAQ:SONO) Major Shareholder Purchases $4,048,485.40 in Stock

Sonos, Inc. (NASDAQ:SONO) major shareholder Coliseum Capital Management, L bought 257,210 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were acquired at an average cost of $15.74 per share, for a total transaction of $4,048,485.40. Following the purchase, the insider directly owned 16,020,563 shares in the company, valued at $252,163,661.62. This trade represents a 1.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, February 17th, Coliseum Capital Management, L purchased 290,000 shares of Sonos stock. The stock was acquired at an average price of $15.59 per share, with a total value of $4,521,100.00.
• On Thursday, February 12th, Coliseum Capital Management, L acquired 100,000 shares of Sonos stock. The shares were bought at an average price of $16.11 per share, for a total transaction of $1,611,000.00.
• On Friday, February 6th, Coliseum Capital Management, L bought 26,824 shares of Sonos stock. The shares were bought at an average cost of $16.49 per share, with a total value of $442,327.76.
• On Thursday, February 5th, Coliseum Capital Management, L bought 211,530 shares of Sonos stock. The stock was acquired at an average cost of $16.29 per share, with a total value 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 cost of $15.50 per share, for a total transaction of $7,668,144.50.

Sonos Stock Performance

SONO stock traded up $0.09 during trading on Tuesday, hitting $15.60. 2,026,075 shares of the company’s stock traded hands, compared to its average volume of 2,193,455. Sonos, Inc. has a 52 week low of $7.63 and a 52 week high of $19.82. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -91.76 and a beta of 2.05. The business has a fifty day simple moving average of $16.70 and a 200 day simple moving average of $16.07.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.85 by $0.08. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.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 business posted $0.64 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Research analysts forecast that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. lifted its stake in shares of Sonos by 307.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,762 shares of the company’s stock worth $31,000 after buying an additional 1,330 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Sonos by 699.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock worth $36,000 after acquiring an additional 1,798 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Sonos during the 4th quarter worth about $50,000. Nisa Investment Advisors LLC grew its stake in Sonos by 65.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company’s stock valued at $35,000 after purchasing an additional 1,269 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Sonos by 485.8% in the third quarter. Quarry LP now owns 3,251 shares of the company’s stock valued at $51,000 after purchasing an additional 2,696 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

SONO has been the subject of a number of research reports. Morgan Stanley set a $18.00 price objective on shares of Sonos in a research note on Wednesday, February 4th. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of Sonos in a research report on Monday, February 2nd. Jefferies Financial Group raised their price objective on Sonos from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sonos in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Sonos from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

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.