D. E. Shaw & Co. Inc. Reduces Stock Holdings in Sleep Number Co. (NASDAQ:SNBR)

D. E. Shaw & Co. Inc. decreased its position in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 921,724 shares of the company's stock after selling 48,572 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 4.12% of Sleep Number worth $14,047,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Barclays PLC raised its position in Sleep Number by 276.5% during the 3rd quarter. Barclays PLC now owns 28,280 shares of the company's stock worth $518,000 after purchasing an additional 20,769 shares during the last quarter. JPMorgan Chase & Co. raised its position in Sleep Number by 1,071.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 114,229 shares of the company's stock worth $2,093,000 after purchasing an additional 104,482 shares during the last quarter. Inspire Investing LLC raised its position in shares of Sleep Number by 13.4% in the 4th quarter. Inspire Investing LLC now owns 25,917 shares of the company's stock worth $395,000 after acquiring an additional 3,071 shares in the last quarter. Hodges Capital Management Inc. raised its position in shares of Sleep Number by 22.7% in the 4th quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company's stock worth $18,905,000 after acquiring an additional 229,587 shares in the last quarter. Finally, First Dallas Securities Inc. raised its position in shares of Sleep Number by 40.7% in the 4th quarter. First Dallas Securities Inc. now owns 41,500 shares of the company's stock worth $632,000 after acquiring an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company's stock.

Insider Buying and Selling at Sleep Number

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

Analysts Set New Price Targets

Several research firms have recently weighed in on SNBR. Piper Sandler lowered their price objective on Sleep Number from $11.00 to $6.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. StockNews.com lowered Sleep Number from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. UBS Group set a $7.00 price objective on Sleep Number in a research report on Friday, April 25th. Finally, Wedbush lowered their price objective on Sleep Number from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th.

Sleep Number Trading Down 3.9%

Sleep Number stock traded down $0.38 during midday trading on Friday, reaching $9.27. The stock had a trading volume of 405,421 shares, compared to its average volume of 522,214. Sleep Number Co. has a 12 month low of $4.48 and a 12 month high of $20.75. The company has a market capitalization of $210.06 million, a P/E ratio of -5.12 and a beta of 1.75. The company has a fifty day moving average price of $6.61 and a two-hundred day moving average price of $12.45.

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