Dimensional Fund Advisors LP Grows Stock Position in Sleep Number Co. (NASDAQ:SNBR)

Dimensional Fund Advisors LP raised its stake in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 425,278 shares of the company's stock after buying an additional 41,217 shares during the period. Dimensional Fund Advisors LP owned about 1.90% of Sleep Number worth $6,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNBR. Vanguard Group Inc. raised its position in Sleep Number by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,254,866 shares of the company's stock worth $19,124,000 after acquiring an additional 9,232 shares during the period. Hodges Capital Management Inc. raised its holdings in 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 purchasing an additional 229,587 shares during the period. Wealthfront Advisers LLC bought a new position in Sleep Number in the 4th quarter worth $14,861,000. Marshall Wace LLP lifted its position in Sleep Number by 5.6% during the fourth quarter. Marshall Wace LLP now owns 656,331 shares of the company's stock valued at $10,002,000 after purchasing an additional 35,024 shares in the last quarter. Finally, Formula Growth Ltd. grew its holdings in Sleep Number by 31.8% during the fourth quarter. Formula Growth Ltd. now owns 485,206 shares of the company's stock valued at $7,395,000 after purchasing an additional 117,055 shares during the period. 85.67% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Francis K. Lee acquired 7,200 shares of Sleep Number stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $7.12 per share, with a total value of $51,264.00. Following the completion of the purchase, the chief financial officer now directly owns 92,970 shares of the company's stock, valued at $661,946.40. The trade was a 8.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Linda Findley purchased 61,020 shares of the firm's stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 604,106 shares in the company, valued at $4,301,234.72. This trade represents a 11.24% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 80,220 shares of company stock worth $576,206 over the last quarter. Insiders own 6.80% of the company's stock.

Sleep Number Stock Down 5.5%

NASDAQ:SNBR traded down $0.54 on Friday, reaching $9.12. 88,714 shares of the company's stock traded hands, compared to its average volume of 630,639. The stock has a 50-day simple moving average of $6.57 and a 200-day simple moving average of $12.49. Sleep Number Co. has a 12 month low of $4.48 and a 12 month high of $20.75. The firm has a market cap of $206.55 million, a PE ratio of -5.04 and a beta of 1.75.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. StockNews.com cut Sleep Number from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Piper Sandler reduced their target price on shares of Sleep Number from $11.00 to $6.00 and set a "neutral" rating for the company in a report on Friday, April 11th. UBS Group set a $7.00 target price on shares of Sleep Number in a research note on Friday, April 25th. Finally, Wedbush dropped their price target 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.

About Sleep Number

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.