Squarepoint Ops LLC Increases Stake in Sleep Number Co. (NASDAQ:SNBR)

Squarepoint Ops LLC grew its position in Sleep Number Co. (NASDAQ:SNBR - Free Report) by 605.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,836 shares of the company's stock after acquiring an additional 68,514 shares during the quarter. Squarepoint Ops LLC owned 0.36% of Sleep Number worth $1,217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNBR. Summit Securities Group LLC acquired a new position in Sleep Number during the fourth quarter valued at approximately $33,000. Tower Research Capital LLC TRC grew 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 in the last quarter. Diametric Capital LP acquired a new position in Sleep Number during the fourth quarter valued at approximately $160,000. Proficio Capital Partners LLC acquired a new stake in Sleep Number in the fourth quarter valued at about $183,000. Finally, Wells Fargo & Company MN lifted its stake in 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. Institutional investors own 85.67% of the company's stock.

Sleep Number Stock Down 5.2%

Shares of NASDAQ:SNBR traded down $0.52 during midday trading on Wednesday, hitting $9.55. 453,202 shares of the stock traded hands, compared to its average volume of 535,222. Sleep Number Co. has a one year low of $4.48 and a one year high of $20.75. The business's 50 day moving average is $7.38 and its two-hundred day moving average is $12.11. The stock has a market capitalization of $216.40 million, a PE ratio of -5.28 and a beta of 1.75.

Sleep Number (NASDAQ:SNBR - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business's revenue was down 16.4% on a year-over-year basis. During the same period last year, the firm earned ($0.33) EPS. As a group, sell-side analysts forecast that Sleep Number Co. will post -0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Sleep Number

In other Sleep Number news, insider Gary T. Fazio bought 12,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $7.54 per share, for a total transaction of $90,480.00. Following the acquisition, the insider now directly owns 71,125 shares in the company, valued at approximately $536,282.50. The trade was a 20.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Linda Findley acquired 61,020 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were bought 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 owns 604,106 shares of the company's stock, valued at $4,301,234.72. This represents a 11.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 80,220 shares of company stock valued at $576,206 over the last ninety days. 7.50% of the stock is currently owned by company 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.