45,527 Shares in Sleep Number Co. (NASDAQ:SNBR) Acquired by Man Group plc

Man Group plc purchased a new stake in Sleep Number Co. (NASDAQ:SNBR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 45,527 shares of the company's stock, valued at approximately $694,000. Man Group plc owned approximately 0.20% of Sleep Number at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new position in Sleep Number in the fourth quarter valued at approximately $33,000. Tower Research Capital LLC TRC lifted its holdings in Sleep Number by 6,582.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,551 shares of the company's stock valued at $115,000 after acquiring an additional 7,438 shares during the last quarter. Diametric Capital LP acquired a new position in Sleep Number in the fourth quarter valued at approximately $160,000. Proficio Capital Partners LLC acquired a new position in Sleep Number in the fourth quarter valued at approximately $183,000. Finally, Wells Fargo & Company MN lifted its holdings in Sleep Number by 26.7% in the fourth quarter. Wells Fargo & Company MN now owns 13,063 shares of the company's stock valued at $199,000 after acquiring an additional 2,756 shares during the last quarter. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions 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 bought at an average price of $7.54 per share, for a total transaction of $90,480.00. Following the acquisition, the insider now directly owns 71,125 shares of the company's stock, valued at approximately $536,282.50. The trade was a 20.30% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Linda Findley acquired 61,020 shares of Sleep Number stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $7.12 per share, for a total transaction of $434,462.40. Following the completion of the acquisition, the chief executive officer now directly owns 604,106 shares in the company, valued at approximately $4,301,234.72. This represents a 11.24% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 80,220 shares of company stock valued at $576,206. 7.50% of the stock is currently owned by company insiders.

Sleep Number Stock Up 5.4%

NASDAQ:SNBR 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 525,648. The business has a 50-day moving average of $7.06 and a two-hundred day moving average of $12.21. Sleep Number Co. has a twelve month low of $4.48 and a twelve month high of $20.75. The company has a market capitalization of $241.33 million, a price-to-earnings ratio of -5.88 and a beta of 1.75.

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

Analysts Set New Price Targets

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

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.