Sonos, Inc. (NASDAQ:SONO) Major Shareholder Purchases $2,360,960.00 in Stock

Sonos, Inc. (NASDAQ:SONO - Get Free Report) major shareholder Coliseum Capital Management, L acquired 238,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average cost of $9.92 per share, with a total value of $2,360,960.00. Following the purchase, the insider now directly owns 13,007,676 shares in the company, valued at approximately $129,036,145.92. This trade represents a 1.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 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 Tuesday, June 24th, Coliseum Capital Management, L acquired 111,898 shares of Sonos stock. The stock was acquired at an average cost of $10.34 per share, with a total value of $1,157,025.32.
• On Monday, June 23rd, Coliseum Capital Management, L bought 73,530 shares of Sonos stock. The shares were acquired at an average cost of $9.89 per share, for a total transaction of $727,211.70.
• On Monday, June 16th, Coliseum Capital Management, L purchased 131,588 shares of Sonos stock. The stock was bought at an average cost of $10.26 per share, with a total value of $1,350,092.88.
• On Friday, June 13th, Coliseum Capital Management, L acquired 280,000 shares of Sonos stock. The shares were bought at an average cost of $9.93 per share, for a total transaction of $2,780,400.00.
• On Thursday, June 12th, Coliseum Capital Management, L purchased 240,000 shares of Sonos stock. The shares were bought at an average price of $10.21 per share, for a total transaction 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 purchased 147,157 shares of Sonos stock. The shares were purchased at an average cost of $9.17 per share, with a total value of $1,349,429.69.

Sonos Price Performance

SONO traded up $0.20 on Friday, hitting $10.73. The company had a trading volume of 881,603 shares, compared to its average volume of 1,980,417. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -18.06 and a beta of 2.06. The company's fifty day moving average price is $9.93 and its 200 day moving average price is $11.77. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $15.89.

Hedge Funds Weigh In On Sonos

A number of institutional investors have recently modified their holdings of the company. AlphaQuest LLC bought a new stake in shares of Sonos in the first quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new position in Sonos during the 4th quarter valued at about $30,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Sonos in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC boosted its stake in Sonos by 191.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company's stock worth $39,000 after purchasing an additional 1,721 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in Sonos by 38.8% during the 1st quarter. Headlands Technologies LLC now owns 7,760 shares of the company's stock worth $83,000 after acquiring an additional 2,168 shares during the last quarter. Institutional investors own 85.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on SONO shares. Jefferies Financial Group dropped their price objective on Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Rosenblatt Securities cut their price target on shares of Sonos from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

About Sonos

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.