Sonos, Inc. (NASDAQ:SONO - Get Free Report) major shareholder Coliseum Capital Management, L acquired 62,506 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $8.38 per share, for a total transaction of $523,800.28. Following the acquisition, the insider now directly owns 12,118,088 shares in the company, valued at $101,549,577.44. This represents a 0.52 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 Thursday, April 3rd, Coliseum Capital Management, L purchased 147,157 shares of Sonos stock. The shares were bought at an average price of $9.17 per share, for a total transaction of $1,349,429.69.
Sonos Trading Down 0.3 %
Shares of NASDAQ SONO opened at $8.57 on Tuesday. The business has a 50-day moving average of $12.38 and a 200-day moving average of $13.17. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -15.04 and a beta of 2.01. Sonos, Inc. has a 12 month low of $7.95 and a 12 month high of $18.48.
Sonos (NASDAQ:SONO - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.40 earnings per share (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, analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current year.
Sonos declared that its board has approved a share buyback plan on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on SONO shares. Jefferies Financial Group reduced their price objective on shares of Sonos from $19.00 to $13.00 and set a "buy" rating for the company in a research note on Monday. Rosenblatt Securities restated a "buy" rating and set a $18.00 price target on shares of Sonos in a research report on Friday, February 7th.
Get Our Latest Research Report on SONO
Institutional Investors Weigh In On Sonos
A number of large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Sonos in the 4th quarter worth about $30,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Sonos during the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC lifted its position 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 buying an additional 1,721 shares during the last quarter. GAMMA Investing LLC boosted its stake in Sonos by 50.1% in the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock worth $61,000 after buying an additional 1,352 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Sonos during the fourth quarter valued at approximately $84,000. Hedge funds and other institutional investors own 85.82% of the company's stock.
About Sonos
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
