Sonos, Inc. (NASDAQ:SONO) Major Shareholder Buys $1,349,429.69 in Stock

Sonos, Inc. (NASDAQ:SONO - Get Free Report) major shareholder Coliseum Capital Management, L bought 147,157 shares of the stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost of $9.17 per share, for a total transaction of $1,349,429.69. Following the acquisition, the insider now directly owns 12,055,582 shares of the company's stock, valued at approximately $110,549,686.94. This represents a 1.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Monday, April 7th, Coliseum Capital Management, L acquired 62,506 shares of Sonos stock. The stock was purchased at an average cost of $8.38 per share, for a total transaction of $523,800.28.

Sonos Trading Down 3.4 %

Shares of SONO stock traded down $0.28 during trading hours on Friday, reaching $8.00. 2,390,379 shares of the company's stock were exchanged, compared to its average volume of 1,910,843. Sonos, Inc. has a 1 year low of $7.70 and a 1 year high of $18.02. The stock has a market cap of $952.66 million, a PE ratio of -14.04 and a beta of 2.01. The stock's fifty day moving average price is $11.71 and its two-hundred day moving average price is $12.98.

Sonos (NASDAQ:SONO - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.17%. On average, equities analysts expect that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Sonos declared that its board has authorized a share buyback program on Monday, February 24th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Coliseum Capital Management LLC raised its holdings in Sonos by 50.3% in the 4th quarter. Coliseum Capital Management LLC now owns 10,734,013 shares of the company's stock valued at $161,440,000 after acquiring an additional 3,590,782 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Sonos by 10.6% in the fourth quarter. Wellington Management Group LLP now owns 3,654,074 shares of the company's stock valued at $54,957,000 after purchasing an additional 351,057 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Sonos by 14.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,187,522 shares of the company's stock worth $47,940,000 after buying an additional 408,479 shares in the last quarter. Schroder Investment Management Group boosted its stake in Sonos by 0.7% during the fourth quarter. Schroder Investment Management Group now owns 3,025,290 shares of the company's stock worth $45,591,000 after buying an additional 21,126 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Sonos by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,687,007 shares of the company's stock valued at $40,413,000 after buying an additional 148,608 shares in the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SONO. Rosenblatt Securities restated a "buy" rating and set a $18.00 price objective on shares of Sonos in a research report on Friday, February 7th. Jefferies Financial Group decreased their price target on Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, April 7th.

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.