Insider Buying: Sonos (NASDAQ:SONO) Major Shareholder Acquires $1,611,000.00 in Stock

Sonos, Inc. (NASDAQ:SONO) major shareholder Coliseum Capital Management, L bought 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average price of $16.11 per share, with a total value of $1,611,000.00. Following the completion of the transaction, the insider directly owned 15,763,353 shares of the company’s stock, valued at $253,947,616.83. This trade represents a 0.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 acquired 257,210 shares of Sonos stock. The shares were acquired at an average cost of $15.74 per share, with a total value of $4,048,485.40.
• On Friday, February 6th, Coliseum Capital Management, L acquired 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 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 bought at an average cost of $15.50 per share, with a total value of $7,668,144.50.

Sonos Stock Down 0.3%

Shares of SONO opened at $15.66 on Friday. The business has a 50-day simple moving average of $16.58 and a two-hundred day simple moving average of $16.06. Sonos, Inc. has a 52 week low of $7.63 and a 52 week high of $19.82. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -92.12 and a beta of 2.05.

Sonos (NASDAQ:SONO) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.08. The firm 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 business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, equities analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SONO. Wall Street Zen raised shares of Sonos from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 target price on shares of Sonos in a report on Monday, February 2nd. Zacks Research raised Sonos from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Morgan Stanley set a $18.00 price objective on Sonos in a research report on Wednesday, February 4th. Finally, Jefferies Financial Group upped their price objective on Sonos from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Institutional Trading of Sonos

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in Sonos by 10.2% during the 4th quarter. GAMMA Investing LLC now owns 6,832 shares of the company’s stock worth $120,000 after buying an additional 631 shares during the last quarter. Centaurus Financial Inc. boosted 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 acquiring an additional 681 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Sonos by 2.3% in the third quarter. Arizona State Retirement System now owns 31,970 shares of the company’s stock worth $505,000 after acquiring an additional 706 shares during the period. State of Wisconsin Investment Board raised its holdings in shares of Sonos by 1.7% during the fourth 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 lifted its position in Sonos by 0.7% during the fourth quarter. Intech Investment Management LLC now owns 117,718 shares of the company’s stock valued at $2,067,000 after purchasing an additional 776 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

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.