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A group of major shareholders, including Coliseum Capital Management, L.L.C., Christopher S. Shackelton and Adam Gray, reported purchasing shares of Sonos Inc (NASDAQ:SONO) between July 25 and July 29. The purchases totaled $14.8 million. This insider confidence aligns with InvestingPro data showing management’s aggressive share buybacks, while the stock trades at $11.32, notably above its 52-week low of $7.62.
The purchases were executed at prices ranging from $11.18 to $11.43. On July 25, the group acquired 287,087 shares at $11.18 per share, totaling $3,209,630. On July 28, the group acquired 350,000 shares at $11.43 per share, totaling $3,999,500. On July 29, the group acquired 675,000 shares at $11.25 per share, totaling $7,593,750.
Following these transactions, the group now holds 14,505,191 shares of Sonos Inc. Common Stock.
In other recent news, Sonos reported its financial results for the second quarter of 2025, surpassing earnings expectations. The company posted an earnings per share (EPS) of -$0.18, which was better than the forecasted -$0.36. Revenue for the quarter reached $260 million, exceeding the anticipated $253.52 million. Additionally, Sonos announced the appointment of Tom Conrad as its permanent Chief Executive Officer, following his six-month tenure as Interim CEO. Conrad has been a member of the Sonos Board of Directors since 2017 and will continue in this role. These developments highlight significant changes and achievements for the company.
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