NBC Securities Inc. Purchases 43,698 Shares of Sleep Number Co. (NASDAQ:SNBR)

NBC Securities Inc. increased its holdings in Sleep Number Co. (NASDAQ:SNBR - Free Report) by 84,034.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,750 shares of the company's stock after purchasing an additional 43,698 shares during the quarter. NBC Securities Inc. owned 0.20% of Sleep Number worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in 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 purchasing an additional 8,642 shares during the period. Alpha Wealth Funds LLC purchased a new position in Sleep Number in the 4th quarter worth $153,000. Public Employees Retirement System of Ohio raised its position in Sleep Number by 34.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 39,377 shares of the company's stock worth $600,000 after purchasing an additional 10,028 shares during the period. Squarepoint Ops LLC raised its position in Sleep Number by 605.1% in the 4th quarter. Squarepoint Ops LLC now owns 79,836 shares of the company's stock worth $1,217,000 after purchasing an additional 68,514 shares during the period. Finally, Two Sigma Investments LP raised its position in Sleep Number by 6.0% in the 4th quarter. Two Sigma Investments LP now owns 109,981 shares of the company's stock worth $1,676,000 after purchasing an additional 6,246 shares during the period. Hedge funds and other institutional investors own 85.67% of the company's stock.

Insider Activity

In other Sleep Number 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, with a total value of $434,462.40. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Francis K. Lee acquired 7,200 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $7.12 per share, for a total transaction of $51,264.00. Following the purchase, the chief financial officer now directly owns 92,970 shares of the company's stock, valued at $661,946.40. This represents a 8.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 7.50% of the company's stock.

Sleep Number Stock Down 6.9%

Shares of SNBR traded down $0.64 during trading hours on Wednesday, reaching $8.62. 694,609 shares of the company traded hands, compared to its average volume of 540,143. The company's fifty day moving average price is $7.76 and its two-hundred day moving average price is $12.00. The company has a market capitalization of $195.33 million, a price-to-earnings ratio of -4.76 and a beta of 1.86. Sleep Number Co. has a 12 month low of $4.48 and a 12 month high of $20.75.

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

Analysts Set New Price Targets

SNBR has been the topic of a number of analyst reports. UBS Group set a $7.00 target price on shares of Sleep Number in a research report on Friday, April 25th. Wall Street Zen cut 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 shares of 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, Piper Sandler decreased their price objective on shares of Sleep Number from $11.00 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th.

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.