Key Points
- Coliseum Capital Management bought roughly 2.0 million Sonos shares during February—including 118,020 shares on Feb. 25 at $15.25—bringing its direct stake to 16,921,842 shares valued at about $258.1 million (a 0.70% increase).
- Sonos shares traded around $15.95 (market cap ≈ $1.93 billion); the company beat recent quarterly EPS and revenue estimates but still has a negative net margin, and analysts carry an average rating of "Moderate Buy" with a $20 average price target.
Sonos, Inc. (NASDAQ:SONO - Get Free Report) major shareholder Coliseum Capital Management, L purchased 118,020 shares of the stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average cost of $15.25 per share, with a total value of $1,799,805.00. Following the acquisition, the insider directly owned 16,921,842 shares in the company, valued at $258,058,090.50. This represents a 0.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% 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, February 23rd, Coliseum Capital Management, L acquired 360,000 shares of Sonos stock. The stock was acquired at an average cost of $14.90 per share, for a total transaction of $5,364,000.00.
- On Tuesday, February 24th, Coliseum Capital Management, L bought 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 bought 290,000 shares of Sonos stock. The shares were acquired at an average cost of $15.59 per share, with a total value of $4,521,100.00.
- On Friday, February 13th, Coliseum Capital Management, L purchased 257,210 shares of Sonos stock. The stock was bought at an average price of $15.74 per share, for a total transaction of $4,048,485.40.
- On Thursday, February 12th, Coliseum Capital Management, L purchased 100,000 shares of Sonos stock. The shares were bought at an average cost of $16.11 per share, for a total transaction of $1,611,000.00.
- On Friday, February 6th, Coliseum Capital Management, L acquired 26,824 shares of Sonos stock. The stock was 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 shares were 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 price of $15.50 per share, with a total value of $7,668,144.50.
Sonos Stock Performance
Shares of SONO traded up $0.55 during trading hours on Thursday, reaching $15.95. The stock had a trading volume of 233,147 shares, compared to its average volume of 1,904,947. Sonos, Inc. has a 12 month low of $7.63 and a 12 month high of $19.82. The stock has a market capitalization of $1.93 billion, a PE ratio of -93.91 and a beta of 2.05. The company's 50-day moving average is $16.32 and its two-hundred day moving average is $16.21.
Sonos (NASDAQ:SONO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.08. The business had revenue of $545.66 million for the quarter, compared to analyst estimates of $536.93 million. Sonos had a positive return on equity of 0.82% and a negative net margin of 1.22%.Sonos's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. Equities analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $21.00 price objective on shares of Sonos in a report on Monday, February 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Sonos in a research note on Thursday, January 22nd. Jefferies Financial Group increased their price objective on Sonos from $19.00 to $21.00 and gave the company a "buy" rating in a report on Monday, January 5th. Zacks Research raised Sonos from a "hold" rating to a "strong-buy" rating in a report on Monday, February 9th. Finally, Morgan Stanley set a $18.00 price target on Sonos in a research report on Wednesday, February 4th. One investment 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 given a Sell rating to the company's stock. According to data from MarketBeat, Sonos currently has an average rating of "Moderate Buy" and an average price target of $20.00.
Read Our Latest Analysis on Sonos
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. grew its stake in 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 purchasing an additional 1,330 shares during the period. Nisa Investment Advisors LLC increased its stake in Sonos by 65.6% in the second 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Sonos by 699.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,055 shares of the company's stock worth $36,000 after buying an additional 1,798 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Sonos during the fourth quarter worth approximately $50,000. Finally, Quarry LP lifted its stake 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 buying an additional 2,696 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.
Sonos Company Profile
(
Get Free Report)
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.
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