Coliseum Capital Management, L Buys 73,530 Shares of Sonos, Inc. (NASDAQ:SONO) Stock

Sonos, Inc. (NASDAQ:SONO - Get Free Report) major shareholder Coliseum Capital Management, L acquired 73,530 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was bought at an average price of $9.89 per share, with a total value of $727,211.70. Following the acquisition, the insider now directly owns 13,081,206 shares of the company's stock, valued at $129,373,127.34. The trade was a 0.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Tuesday, June 24th, Coliseum Capital Management, L bought 111,898 shares of Sonos stock. The shares were bought at an average price of $10.34 per share, with a total value of $1,157,025.32.
• On Friday, June 20th, Coliseum Capital Management, L purchased 238,000 shares of Sonos stock. The stock was bought at an average cost 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 shares were acquired at an average cost of $10.26 per share, for a total transaction of $1,350,092.88.
• On Friday, June 13th, Coliseum Capital Management, L purchased 280,000 shares of Sonos stock. The stock was bought 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 purchased 240,000 shares of Sonos stock. The stock was purchased at an average cost of $10.21 per share, for a total transaction of $2,450,400.00.
• On Monday, April 7th, Coliseum Capital Management, L purchased 62,506 shares of Sonos stock. The stock was purchased at an average price of $8.38 per share, for a total transaction of $523,800.28.
• On Thursday, April 3rd, Coliseum Capital Management, L bought 147,157 shares of Sonos stock. The stock was acquired at an average cost of $9.17 per share, with a total value of $1,349,429.69.

Sonos Trading Up 1.9%

SONO stock traded up $0.20 during mid-day trading on Friday, hitting $10.73. 881,603 shares of the company were exchanged, compared to its average volume of 1,980,417. The stock has a market capitalization of $1.29 billion, a PE ratio of -18.06 and a beta of 2.06. Sonos, Inc. has a 1-year low of $7.63 and a 1-year high of $15.89. The business has a 50 day simple moving average of $9.93 and a 200-day simple moving average of $11.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Sonos by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 593,671 shares of the company's stock valued at $8,929,000 after acquiring an additional 20,397 shares during the period. US Bancorp DE increased its position in Sonos by 5.2% during the fourth quarter. US Bancorp DE now owns 43,722 shares of the company's stock worth $658,000 after acquiring an additional 2,153 shares during the period. Smartleaf Asset Management LLC raised its stake in Sonos by 191.2% in the 4th 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. SBI Securities Co. Ltd. acquired a new stake in Sonos in the 4th quarter worth about $30,000. Finally, NBW Capital LLC grew its position in shares of Sonos by 42.6% during the 4th quarter. NBW Capital LLC now owns 256,134 shares of the company's stock worth $3,852,000 after purchasing an additional 76,454 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group lowered their price target on Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Rosenblatt Securities reduced 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.

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.