Coliseum Capital Management and affiliated accounts, including Christopher S. Shackelton and Adam Gray, expanded their stake in Sonos Inc (NASDAQ: SONO) via multiple purchases in March that totalled $3.07 million. The transactions, disclosed in a Form 4 filed with the Securities and Exchange Commission, were carried out over three trading days and were executed at prices that fall within the range of $13.20 to $13.69 per share.
Specifics from the filing show the following activity: on March 13, 2026, the entities purchased 90,000 shares at $13.20 per share. On March 16, 2026, they acquired 13,920 shares at $13.25 per share. A further purchase on March 17, 2026, added 125,000 shares at a weighted average price reported between $13.44 and $13.69. Earlier in the filing summary the purchases were described as executed at prices between $13.20 and $13.57.
After these transactions, the combined holdings owned by Coliseum Capital Partners, L.P., Coliseum Capital Co-Invest IV, L.P., and a separate account investment advisory client of Coliseum Capital Management, LCC total 18,070,762 shares of Sonos.
Market context and recent operating performance
At the time of the filings, Sonos shares were trading at $13.49, representing an approximate year-to-date decline of 23%. The company is assigned a market capitalization of $1.63 billion and is reported to hold more cash than debt on its balance sheet.
Analysis cited in the report indicates that, according to InvestingPro, Sonos appears undervalued at current levels and ranks among the most undervalued names tracked by that platform. InvestingPro is also noted as offering 11 additional tips on Sonos, which include coverage of the company’s aggressive share buyback program and its profitability outlook.
Operationally, Sonos produced a notable first-quarter 2026 result, significantly exceeding analyst expectations. The company recorded non-GAAP earnings per share of $0.93, versus the projected $0.48, a 93.75% beat. Revenue climbed to $546 million compared with an anticipated $523.21 million, a 4.36% upside to consensus.
In conjunction with results, Sonos unveiled two new speaker models: the Sonos Play, priced at $299, and the Sonos Era 100 SL at $189. The Sonos Play is described as delivering stereo sound, featuring WiFi connectivity, offering 24-hour battery life, and carrying an IP67 waterproof rating.
Rosenblatt Securities is reported to have reaffirmed its Buy rating on Sonos, maintaining a $21.00 price target. Rosenblatt’s commentary, as summarized in the filing, highlighted the company’s strong quarterly performance, its capacity to manage through macroeconomic pressures, and noted effective cost reduction measures and robust free cash flow generation.
What this means
The Form 4 disclosures document a clear step-up in Coliseum-affiliated ownership during a period of mixed market sentiment for the stock, while company results and new product announcements provide contemporaneous operational context. The filings and cited third-party analysis together paint a picture of active investor interest along with recent financial momentum at Sonos.