Jane Street Group LLC Sells 47,511 Shares of Sleep Number Co. (NASDAQ:SNBR)

Jane Street Group LLC lowered its holdings in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 41.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 67,349 shares of the company's stock after selling 47,511 shares during the period. Jane Street Group LLC owned 0.30% of Sleep Number worth $1,026,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNBR. Schwarz Dygos Wheeler Investment Advisors LLC increased its holdings in shares of Sleep Number by 1.1% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 137,463 shares of the company's stock worth $2,095,000 after acquiring an additional 1,496 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Sleep Number during the 4th quarter worth about $33,000. Northern Trust Corp lifted its stake in shares of Sleep Number by 1.1% during the 4th quarter. Northern Trust Corp now owns 198,667 shares of the company's stock worth $3,028,000 after buying an additional 2,167 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Sleep Number by 26.7% during the 4th quarter. Wells Fargo & Company MN now owns 13,063 shares of the company's stock worth $199,000 after buying an additional 2,756 shares during the period. Finally, Inspire Investing LLC grew its stake in Sleep Number by 13.4% in the 4th quarter. Inspire Investing LLC now owns 25,917 shares of the company's stock valued at $395,000 after buying an additional 3,071 shares during the last quarter. Institutional investors own 85.67% of the company's stock.

Wall Street Analyst Weigh In

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

Sleep Number Trading Up 5.4%

Sleep Number stock traded up $0.55 during trading hours on Wednesday, reaching $10.65. 505,355 shares of the stock were exchanged, compared to its average volume of 525,961. The stock has a 50 day moving average of $7.06 and a two-hundred day moving average of $12.21. The company has a market cap of $241.33 million, a P/E ratio of -5.88 and a beta of 1.75. Sleep Number Co. has a twelve month low of $4.48 and a twelve month high of $20.75.

Sleep Number (NASDAQ:SNBR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.38) earnings per share 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 analyst estimates of $397.95 million. The firm's revenue was down 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.33) EPS. On average, analysts expect that Sleep Number Co. will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Sleep Number

In other news, insider Gary T. Fazio purchased 12,000 shares of the stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $7.54 per share, for a total transaction of $90,480.00. Following the acquisition, the insider now owns 71,125 shares in the company, valued at $536,282.50. This trade represents a 20.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Linda Findley purchased 61,020 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $7.12 per share, for a total transaction of $434,462.40. Following the transaction, the chief executive officer now directly owns 604,106 shares of the company's stock, valued at approximately $4,301,234.72. The trade was a 11.24% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 80,220 shares of company stock worth $576,206. 7.50% of the stock is currently owned by insiders.

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.