Coliseum Capital Management and a group of affiliated entities and individuals disclosed a series of purchases in Sonos Inc. (NASDAQ: SONO) common stock totaling $9.14 million. The transactions took place over three trading days - February 23 through February 25, 2026 - and were executed at prices spanning $14.53 to $15.40 per share.
Details in the disclosure show that on February 23, the group acquired 360,000 shares at a weighted average price of $14.90. Those trades were reported as multiple transactions with execution prices ranging from $14.75 to $14.95. The following day, February 24, the buyers added 133,259 shares at a weighted average price of $14.83, with individual trade prices between $14.53 and $15.00. The sequence concluded on February 25 with the purchase of 118,020 shares at a weighted average price of $15.25; those trades were recorded at prices from $14.96 to $15.40.
Together, the three days of activity account for 611,279 shares purchased by entities and individuals associated with Coliseum Capital, at an aggregate value of $9.14 million. The reported purchase prices sit close to the current quoted share price of $15.40. Filings accompanying the trades note analysis that places the stock below its fair value, listing SONO among stocks identified as potential undervalued opportunities by the referenced valuation tool. Analysts cited in materials continue to show a constructive outlook, with price targets in the range of $17.50 to $21.00.
The specific parties named in the filings include Coliseum Capital Partners, L.P.; Coliseum Co-Invest IV, L.P.; Coliseum Capital, LLC; Coliseum Capital Management, LLC; Christopher S. Shackelton; and Adam Gray. After the reported purchases, the combined holdings attributable to these entities and a separate account advisory client of Coliseum Capital Management, LLC total 16,921,842 shares.
Separately, Sonos reported first-quarter 2026 results that exceeded expectations. The company posted non-GAAP earnings per share of $0.93, versus a forecast of $0.48 - a beat of 93.75%. Revenue for the quarter was $546 million, topping the expected $523.21 million and representing a 4.36% positive surprise. Commentaries accompanying the earnings highlighted Sonos’s ability to reduce costs and generate strong free cash flow despite tariff-related pressures.
Rosenblatt Securities has reiterated its Buy rating on Sonos and maintained a $21.00 price target, citing those cost reductions and free cash flow generation as supportive factors.
Context for investors
The reported purchases by Coliseum Capital and affiliated accounts increase the group's stake in Sonos and come on the heels of a quarter in which Sonos delivered results above consensus. The purchases were executed at prices that closely match the stock's quoted level at the time of filing and coincide with analyst price targets that extend above the prevailing market price.
For investors seeking additional detail, the filings reference a professional research report available on the platform noted in the disclosures.