Charles Schwab Investment Management Inc. Sells 95,517 Shares of Sleep Number Corporation $SNBR

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Sleep Number Corporation by 24.4%, selling 95,517 shares and now holding approximately 1.30% of the company.
• Sleep Number's recent earnings report showed a significant miss, with an EPS of ($1.09) against a consensus estimate of ($0.12) and a revenue drop of 19.7% year-over-year.
• Currently, 85.67% of Sleep Number's stock is owned by hedge funds and other institutional investors, indicating strong institutional interest.

Charles Schwab Investment Management Inc. lowered its stake in Sleep Number Corporation (NASDAQ:SNBR - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,449 shares of the company's stock after selling 95,517 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.30% of Sleep Number worth $1,873,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its stake in shares of Sleep Number by 26.7% in the 4th quarter. Wells Fargo & Company MN now owns 13,063 shares of the company's stock valued at $199,000 after purchasing an additional 2,756 shares during the last quarter. Barclays PLC raised its holdings in Sleep Number by 16.0% during the 4th quarter. Barclays PLC now owns 32,811 shares of the company's stock valued at $501,000 after buying an additional 4,531 shares during the period. Dimensional Fund Advisors LP lifted its position in Sleep Number by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 425,278 shares of the company's stock worth $6,482,000 after buying an additional 41,217 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Sleep Number by 6,582.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,551 shares of the company's stock worth $115,000 after buying an additional 7,438 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Sleep Number by 36.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,562 shares of the company's stock worth $497,000 after buying an additional 8,613 shares during the period. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

Sleep Number Stock Down 0.6%

SNBR stock opened at $10.53 on Monday. Sleep Number Corporation has a twelve month low of $4.48 and a twelve month high of $20.75. The stock has a market capitalization of $239.77 million, a price-to-earnings ratio of -5.79 and a beta of 1.77. The firm's fifty day simple moving average is $8.52 and its two-hundred day simple moving average is $8.56.

Sleep Number (NASDAQ:SNBR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($1.09) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.97). The company had revenue of $327.93 million for the quarter, compared to analysts' expectations of $357.42 million. The company's revenue for the quarter was down 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.22) earnings per share. Sleep Number has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Sleep Number Corporation will post -0.42 EPS 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.

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