Sonos, Inc. (NASDAQ:SONO) Major Shareholder Coliseum Capital Management, L Buys 111,898 Shares

Sonos, Inc. (NASDAQ:SONO) major shareholder Coliseum Capital Management, L bought 111,898 shares of the stock in a transaction dated Tuesday, June 24th. The stock was bought at an average price of $10.34 per share, with a total value of $1,157,025.32. Following the acquisition, the insider now owns 13,193,104 shares in the company, valued at approximately $136,416,695.36. This represents a 0.86% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, June 23rd, Coliseum Capital Management, L purchased 73,530 shares of Sonos stock. The stock was acquired at an average price of $9.89 per share, with a total value of $727,211.70.
• On Friday, June 20th, Coliseum Capital Management, L purchased 238,000 shares of Sonos stock. The stock was acquired at an average price of $9.92 per share, with a total value of $2,360,960.00.
• On Monday, June 16th, Coliseum Capital Management, L purchased 131,588 shares of Sonos stock. The stock was acquired at an average price of $10.26 per share, with a total value of $1,350,092.88.
• On Friday, June 13th, Coliseum Capital Management, L purchased 280,000 shares of Sonos stock. The stock was acquired at an average price of $9.93 per share, with a total value of $2,780,400.00.
• On Thursday, June 12th, Coliseum Capital Management, L acquired 240,000 shares of Sonos stock. The shares were purchased at an average price of $10.21 per share, with a total value of $2,450,400.00.
• On Monday, April 7th, Coliseum Capital Management, L acquired 62,506 shares of Sonos stock. The shares were purchased at an average price of $8.38 per share, with a total value of $523,800.28.
• On Thursday, April 3rd, Coliseum Capital Management, L acquired 147,157 shares of Sonos stock. The shares were purchased at an average price of $9.17 per share, with a total value of $1,349,429.69.

Sonos Stock Down 2.0%

NASDAQ:SONO opened at $10.53 on Friday. Sonos, Inc. has a fifty-two week low of $7.63 and a fifty-two week high of $15.89. The stock has a market cap of $1.26 billion, a PE ratio of -17.85 and a beta of 2.06. The firm’s fifty day simple moving average is $9.93 and its 200-day simple moving average is $11.77.

Hedge Funds Weigh In On Sonos

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new position in Sonos during the 1st quarter valued at about $147,000. Intech Investment Management LLC increased its holdings in Sonos by 38.5% during the 1st quarter. Intech Investment Management LLC now owns 151,152 shares of the company’s stock valued at $1,613,000 after acquiring an additional 42,006 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Sonos during the 1st quarter valued at about $1,142,000. SCS Capital Management LLC purchased a new position in Sonos during the 1st quarter valued at about $1,229,000. Finally, Jones Financial Companies Lllp increased its holdings in Sonos by 22,701.2% during the 1st quarter. Jones Financial Companies Lllp now owns 353,190 shares of the company’s stock valued at $3,769,000 after acquiring an additional 351,641 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SONO has been the subject of a number of analyst reports. Rosenblatt Securities cut their price objective on shares of Sonos from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Jefferies Financial Group lowered their price target on shares of Sonos from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, April 7th.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.