Sonos (NASDAQ:SONO) Major Shareholder Acquires $2,559,600.00 in Stock

Sonos, Inc. (NASDAQ:SONO) major shareholder Coliseum Capital Management, L bought 180,000 shares of the stock in a transaction on Wednesday, March 11th. The shares were bought at an average price of $14.22 per share, for a total transaction of $2,559,600.00. Following the completion of the transaction, the insider directly owned 17,841,842 shares of the company’s stock, valued at $253,710,993.24. This trade represents a 1.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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, March 10th, Coliseum Capital Management, L acquired 320,000 shares of Sonos stock. The stock was acquired at an average cost of $14.19 per share, for a total transaction of $4,540,800.00.
• On Monday, March 9th, Coliseum Capital Management, L acquired 420,000 shares of Sonos stock. The shares were acquired at an average cost of $13.95 per share, with a total value of $5,859,000.00.
• On Monday, February 23rd, Coliseum Capital Management, L purchased 360,000 shares of Sonos stock. The stock was bought at an average cost of $14.90 per share, with a total value of $5,364,000.00.
• On Wednesday, February 25th, Coliseum Capital Management, L bought 118,020 shares of Sonos stock. The stock was purchased at an average price of $15.25 per share, for a total transaction of $1,799,805.00.
• On Tuesday, February 24th, Coliseum Capital Management, L acquired 133,259 shares of Sonos stock. The shares were purchased at an average cost of $14.83 per share, for a total transaction of $1,976,230.97.
• On Tuesday, February 17th, Coliseum Capital Management, L acquired 290,000 shares of Sonos stock. The shares were acquired at an average price of $15.59 per share, for a total transaction of $4,521,100.00.
• On Friday, February 13th, Coliseum Capital Management, L bought 257,210 shares of Sonos stock. The stock was bought at an average cost 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 purchased at an average price of $16.11 per share, with a total value of $1,611,000.00.
• On Friday, February 6th, Coliseum Capital Management, L purchased 26,824 shares of Sonos stock. The stock was bought at an average price 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 bought at an average price of $16.29 per share, with a total value of $3,445,823.70.

Sonos Trading Down 0.5%

NASDAQ:SONO traded down $0.07 during trading hours on Wednesday, hitting $14.16. The stock had a trading volume of 1,634,740 shares, compared to its average volume of 1,828,207. The company has a market cap of $1.71 billion, a PE ratio of -83.29 and a beta of 1.97. The business has a 50 day simple moving average of $15.69 and a two-hundred day simple moving average of $16.34. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $19.82.

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. The business had revenue of $545.66 million for the quarter, compared to analysts’ expectations of $536.93 million. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Research analysts expect that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Sonos

Several institutional investors and hedge funds have recently made changes to their positions in SONO. Hantz Financial Services Inc. raised its holdings 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 acquiring an additional 1,330 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Sonos by 699.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company’s stock valued at $36,000 after purchasing an additional 1,798 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Sonos during the fourth quarter worth $50,000. Quarry LP increased its stake in shares of Sonos by 485.8% during the 3rd quarter. Quarry LP now owns 3,251 shares of the company’s stock worth $51,000 after purchasing an additional 2,696 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Sonos during the fourth quarter worth approximately $64,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Sonos News Summary

Here are the key news stories impacting Sonos this week:

• Positive Sentiment: Sonos launched two new speakers — the portable Sonos Play and the mic-free Era 100 SL — positioning lower-priced, entry-level options to expand its installed user base; pre-orders are open and wider availability is slated for March 31, which could help add users and recurring platform revenue over time. BusinessWire Release
• Positive Sentiment: Early reviews highlight the Play’s portability, all?day battery life, AirPlay 2 support and outdoor readiness, and note the Era 100 SL as a lower-cost multi?room option — favorable product reception could support sell?through and brand momentum. New Atlas Review
• Neutral Sentiment: Analyst/industry commentary frames Sonos’s move as a deliberate push to win back users and grow the platform rather than a short-term revenue sprint; execution will determine whether lower?price SKUs expand lifetime value. Forbes
• Negative Sentiment: Short interest rose meaningfully in February (about a 14.6% increase to ~10.5M shares outstanding; ~8.8% of float), leaving the stock vulnerable to downward pressure and volatility while sentiment shifts. No link
• Negative Sentiment: Some coverage references recent product/app missteps and execution risk as CEO Tom Conrad reshapes the brand — lingering reputation issues and execution missteps could blunt the benefit of new launches. MSN

Wall Street Analyst Weigh In

Several analysts have weighed in on SONO shares. Jefferies Financial Group boosted their price target on Sonos from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Morgan Stanley set a $18.00 price target on Sonos in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of Sonos from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Zacks Research upgraded shares of Sonos from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sonos in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

About Sonos

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.