Goldman Sachs Group Inc. Reduces Stake in Sleep Number Corporation $SNBR

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Sleep Number Corporation by 26.8%, selling 34,744 shares during the first quarter, now owning approximately 0.42% of the company.
• Sleep Number reported a loss of $1.09 EPS for the last quarter, significantly missing analysts' expectations and marking a 19.7% decline in revenue compared to the same quarter last year.
• Recent investor activity shows a high level of interest in Sleep Number, with multiple institutional investors increasing their stakes, while approximately 85.67% of the stock is held by hedge funds and other institutions.

Goldman Sachs Group Inc. reduced its position in Sleep Number Corporation (NASDAQ:SNBR - Free Report) by 26.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,973 shares of the company's stock after selling 34,744 shares during the period. Goldman Sachs Group Inc. owned approximately 0.42% of Sleep Number worth $602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Focus Financial Network Inc. purchased a new position in shares of Sleep Number in the 1st quarter worth $67,000. CWM LLC boosted its stake in shares of Sleep Number by 218.7% in the 1st quarter. CWM LLC now owns 11,963 shares of the company's stock worth $76,000 after buying an additional 8,209 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Sleep Number by 116.1% in the 1st quarter. GAMMA Investing LLC now owns 16,085 shares of the company's stock worth $102,000 after buying an additional 8,642 shares during the last quarter. Strs Ohio purchased a new position in shares of Sleep Number in the 1st quarter worth $130,000. Finally, Ieq Capital LLC purchased a new position in shares of Sleep Number in the 1st quarter worth $142,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

Sleep Number Stock Performance

Shares of Sleep Number stock opened at $7.52 on Thursday. Sleep Number Corporation has a one year low of $4.48 and a one year high of $20.73. The stock's fifty day moving average is $9.19 and its 200 day moving average is $8.02. The stock has a market cap of $171.24 million, a P/E ratio of -4.13 and a beta of 1.77.

Sleep Number (NASDAQ:SNBR - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $357.42 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The business's revenue for the quarter was down 19.7% compared to the same quarter last year. Sleep Number has set its FY 2025 guidance at EPS. Analysts predict that Sleep Number Corporation will post -0.42 EPS for the current year.

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.

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