BNP Paribas Financial Markets Trims Stake in Sleep Number Co. (NASDAQ:SNBR)

BNP Paribas Financial Markets trimmed its stake in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 42.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,657 shares of the company's stock after selling 38,513 shares during the quarter. BNP Paribas Financial Markets owned 0.23% of Sleep Number worth $787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SNBR. Inspire Investing LLC increased its position in Sleep Number by 13.4% during the fourth quarter. Inspire Investing LLC now owns 25,917 shares of the company's stock worth $395,000 after buying an additional 3,071 shares in the last quarter. Hodges Capital Management Inc. grew 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 buying an additional 229,587 shares in the last quarter. First Dallas Securities Inc. lifted its stake 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 during the period. Rhumbline Advisers increased its position in shares of Sleep Number by 9.1% during the 4th quarter. Rhumbline Advisers now owns 40,128 shares of the company's stock valued at $612,000 after purchasing an additional 3,342 shares during the period. Finally, Olympiad Research LP acquired a new position in shares of Sleep Number during the 4th quarter valued at $221,000. 85.67% of the stock is owned by institutional investors and hedge funds.

Sleep Number Price Performance

NASDAQ SNBR traded up $0.22 during trading on Wednesday, reaching $10.32. 33,159 shares of the company's stock were exchanged, compared to its average volume of 523,871. The business has a 50 day moving average price of $6.99 and a 200-day moving average price of $12.22. The stock has a market capitalization of $233.74 million, a P/E ratio of -5.69 and a beta of 1.75. Sleep Number Co. has a fifty-two week low of $4.48 and a fifty-two week 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 company had revenue of $393.26 million during the quarter, compared to analyst estimates of $397.95 million. Sleep Number's quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.33) earnings per share. On average, analysts forecast that Sleep Number Co. will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Sleep Number

In other news, CEO Linda Findley acquired 61,020 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $7.12 per share, for a total transaction of $434,462.40. Following the completion of the purchase, the chief executive officer now owns 604,106 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, insider Gary T. Fazio purchased 12,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $7.54 per share, for a total transaction of $90,480.00. Following the acquisition, the insider now owns 71,125 shares of the company's stock, valued at approximately $536,282.50. This trade represents a 20.30% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 80,220 shares of company stock valued at $576,206. 7.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNBR. UBS Group set a $7.00 target price on Sleep Number in a research report on Friday, April 25th. Piper Sandler lowered their price target on Sleep Number from $11.00 to $6.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Wedbush decreased their price target on Sleep Number from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Finally, Wall Street Zen cut shares of Sleep Number from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st.

Sleep Number 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.