CastleKnight Management LP Has $1.97 Million Stake in Sleep Number Co. (NASDAQ:SNBR)

CastleKnight Management LP increased its holdings in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 57.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,243 shares of the company's stock after buying an additional 46,900 shares during the period. CastleKnight Management LP owned about 0.58% of Sleep Number worth $1,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC boosted its holdings in Sleep Number by 276.5% in the 3rd quarter. Barclays PLC now owns 28,280 shares of the company's stock valued at $518,000 after purchasing an additional 20,769 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Sleep Number by 1,071.9% in the third quarter. JPMorgan Chase & Co. now owns 114,229 shares of the company's stock valued at $2,093,000 after buying an additional 104,482 shares in the last quarter. GAMMA Investing LLC grew its holdings in Sleep Number by 28.8% in the fourth quarter. GAMMA Investing LLC now owns 7,443 shares of the company's stock valued at $113,000 after purchasing an additional 1,664 shares during the last quarter. Inspire Investing LLC lifted its stake in Sleep Number by 13.4% in the 4th quarter. Inspire Investing LLC now owns 25,917 shares of the company's stock valued at $395,000 after buying an additional 3,071 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its holdings in Sleep Number by 22.7% during the 4th quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company's stock valued at $18,905,000 after buying an additional 229,587 shares during the last quarter. Hedge funds and other institutional investors own 85.67% of the company's stock.

Insider Activity at Sleep Number

In other news, CEO Linda Findley bought 61,020 shares of Sleep Number stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $7.12 per share, for a total transaction of $434,462.40. Following the purchase, the chief executive officer now owns 604,106 shares of the company's stock, valued at approximately $4,301,234.72. This trade represents a 11.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Francis K. Lee bought 7,200 shares of the stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $7.12 per share, with a total value of $51,264.00. Following the completion of the purchase, the chief financial officer now owns 92,970 shares of the company's stock, valued at $661,946.40. This represents a 8.39 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 80,220 shares of company stock valued at $576,206. Insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on SNBR shares. Piper Sandler reduced their target price on shares of Sleep Number from $11.00 to $6.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. StockNews.com downgraded Sleep Number from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Wedbush lowered their price objective on shares of Sleep Number from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Finally, UBS Group set a $7.00 price objective on shares of Sleep Number in a research note on Friday, April 25th.

Sleep Number Stock Performance

Shares of SNBR stock traded up $0.37 during midday trading on Friday, reaching $8.00. 724,822 shares of the company were exchanged, compared to its average volume of 517,632. The company's 50 day moving average price is $6.55 and its two-hundred day moving average price is $12.60. The company has a market cap of $181.28 million, a P/E ratio of -4.42 and a beta of 1.75. Sleep Number Co. has a 12 month low of $4.48 and a 12 month high of $20.75.

Sleep Number (NASDAQ:SNBR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.27). The business had revenue of $393.26 million during the quarter, compared to analysts' expectations of $397.95 million. During the same period in the prior year, the firm posted ($0.33) earnings per share. The business's quarterly revenue was down 16.4% compared to the same quarter last year. As a group, sell-side analysts predict that Sleep Number Co. will post -0.42 earnings per share for the current year.

Sleep Number Company Profile

Sleep Number Corporation, together with its subsidiaries, offers sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding products under the Sleep Number name. It also provides smart adjustable bases under the FlextFit brand, and smart beds under the Climate 360 name.