Coliseum Capital Management, L Buys 320,000 Shares of Sonos (NASDAQ:SONO) Stock

Key Points

• Coliseum Capital Management bought 320,000 Sonos shares on March 10 at an average price of $14.19 (~$4.54M), boosting its stake to 17,661,842 shares (≈$250.6M) after a series of additional purchases in February–March.
• Sonos shares trade around $14.16, below the 50‑ and 200‑day moving averages ($15.69 and $16.34), with a market cap of $1.71B and a negative trailing P/E of -83.29.
• Analysts show a mixed but generally positive view (consensus "Moderate Buy" and average price target $20); recent lower‑priced product launches could expand the user base, while rising short interest and execution/reputation risks pose downside.

Sonos, Inc. (NASDAQ:SONO - Get Free Report) major shareholder Coliseum Capital Management, L bought 320,000 shares of Sonos stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $14.19 per share, for a total transaction of $4,540,800.00. Following the completion of the transaction, the insider owned 17,661,842 shares of the company's stock, valued at approximately $250,621,537.98. This represents a 1.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's stock 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 acquired at an average price of $14.22 per share, with a total value of $2,559,600.00.
• On Monday, March 9th, Coliseum Capital Management, L acquired 420,000 shares of Sonos stock. The stock was purchased at an average cost of $13.95 per share, with a total value of $5,859,000.00.
• On Monday, February 23rd, Coliseum Capital Management, L acquired 360,000 shares of Sonos stock. The shares were acquired at an average price of $14.90 per share, for a total transaction of $5,364,000.00.
• On Wednesday, February 25th, Coliseum Capital Management, L bought 118,020 shares of Sonos stock. The stock was bought at an average price 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 shares were bought 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 acquired 290,000 shares of Sonos stock. The stock was acquired 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, for a total transaction of $4,048,485.40.
• On Thursday, February 12th, Coliseum Capital Management, L acquired 100,000 shares of Sonos stock. The shares were purchased 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 purchased 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 acquired 211,530 shares of Sonos stock. The stock was acquired at an average price of $16.29 per share, for a total transaction of $3,445,823.70.

Sonos Stock Performance

Shares of SONO traded down $0.07 during trading hours on Wednesday, reaching $14.16. 1,634,740 shares of the company traded hands, compared to its average volume of 1,828,207. The stock's fifty day moving average is $15.69 and its 200 day moving average is $16.34. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $19.82. The stock has a market cap of $1.71 billion, a P/E ratio of -83.29 and a beta of 1.97.

Sonos (NASDAQ:SONO - Get Free Report) last released its quarterly earnings results 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 during 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 revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. On average, equities research analysts predict that Sonos, Inc. will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Trending Headlines about Sonos

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

Hedge Funds Weigh In On Sonos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in Sonos by 22.4% during the first quarter. AQR Capital Management LLC now owns 51,169 shares of the company's stock valued at $546,000 after purchasing an additional 9,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sonos by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,984 shares of the company's stock worth $768,000 after purchasing an additional 3,483 shares in the last quarter. Intech Investment Management LLC increased its position in shares of 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 purchasing an additional 42,006 shares during the last quarter. Strs Ohio bought a new position in shares of Sonos during the 1st quarter valued at about $147,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Sonos by 8.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 145,826 shares of the company's stock valued at $1,576,000 after buying an additional 10,755 shares in the last quarter. Institutional investors own 85.82% of the company's stock.

Sonos Company Profile

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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