Sonos (NASDAQ:SONO) Major Shareholder Coliseum Capital Management, L Buys 420,000 Shares

Sonos, Inc. (NASDAQ:SONO) major shareholder Coliseum Capital Management, L acquired 420,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average cost of $13.95 per share, for a total transaction of $5,859,000.00. Following the completion of the acquisition, the insider owned 17,341,842 shares of the company’s stock, valued at $241,918,695.90. This trade represents a 2.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% 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 Wednesday, March 11th, Coliseum Capital Management, L bought 180,000 shares of Sonos stock. The shares were purchased at an average cost of $14.22 per share, with a total value of $2,559,600.00.
• 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, with a total value of $4,540,800.00.
• On Monday, February 23rd, Coliseum Capital Management, L bought 360,000 shares of Sonos stock. The stock was bought at an average price of $14.90 per share, with a total value of $5,364,000.00.
• On Wednesday, February 25th, Coliseum Capital Management, L acquired 118,020 shares of Sonos stock. The stock was purchased at an average cost 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 stock was acquired 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 bought at an average cost 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 shares were purchased at an average cost of $15.74 per share, with a total value of $4,048,485.40.
• On Thursday, February 12th, Coliseum Capital Management, L purchased 100,000 shares of Sonos stock. The stock was 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 acquired 26,824 shares of Sonos stock. The shares were 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 purchased at an average price of $16.29 per share, for a total transaction of $3,445,823.70.

Sonos Price Performance

NASDAQ SONO traded down $0.07 during trading hours on Wednesday, hitting $14.16. 1,634,740 shares of the company’s stock traded hands, compared to its average volume of 1,828,207. The firm’s 50-day moving average is $15.69 and its 200-day moving average is $16.34. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $19.82. The company has a market capitalization of $1.71 billion, a PE ratio of -83.29 and a beta of 1.97.

Sonos (NASDAQ:SONO) last issued its earnings results on Tuesday, February 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $545.66 million during the quarter, compared to the consensus estimate of $536.93 million. During the same period last year, the company earned $0.64 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. Equities research analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sonos

A number of hedge funds and other institutional investors have recently modified their holdings of SONO. GAMMA Investing LLC lifted its holdings in shares of Sonos by 10.2% during the fourth 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. lifted its holdings in shares of Sonos by 6.6% during the third 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 period. Arizona State Retirement System lifted its holdings in Sonos by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 31,970 shares of the company’s stock valued at $505,000 after purchasing an additional 706 shares during the last quarter. State of Wisconsin Investment Board grew its stake in 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 buying an additional 724 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in 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 buying an additional 776 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SONO. Rosenblatt Securities restated a “buy” rating and set a $21.00 target price on shares of Sonos in a research report on Monday, February 2nd. Zacks Research upgraded Sonos from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Sonos in a research report on Thursday, January 22nd. Wall Street Zen upgraded Sonos from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Jefferies Financial Group upped their target price on Sonos from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sonos has an average rating of “Moderate Buy” and an average target price of $20.00.

Key Sonos News

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

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.