Sleep Number Corporation $SNBR Shares Sold by Van Lanschot Kempen Investment Management N.V.

Key Points

• Van Lanschot Kempen Investment Management N.V. reduced its stake in Sleep Number Corporation by 60% in the first quarter, now holding approximately 398,687 shares valued at $2.5 million.
• Sleep Number reported a loss of $1.09 EPS in its last quarter, significantly missing analysts' expectations and marking a 19.7% decline in revenue year-over-year.
• Recent analysts' updates include Wall Street Zen downgrading the stock from "buy" to "hold" and setting a price target of $7.00, with a consensus rating of "Hold" and an average target of $8.33.

Van Lanschot Kempen Investment Management N.V. decreased its holdings in Sleep Number Corporation (NASDAQ:SNBR - Free Report) by 60.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,687 shares of the company's stock after selling 598,615 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned about 1.76% of Sleep Number worth $2,528,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. raised its stake in Sleep Number by 125.8% in the 1st quarter. Fox Run Management L.L.C. now owns 37,383 shares of the company's stock worth $237,000 after acquiring an additional 20,824 shares during the last quarter. Nuveen LLC acquired a new stake in Sleep Number in the 1st quarter worth about $423,000. Pacific Ridge Capital Partners LLC boosted its holdings in Sleep Number by 42.1% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 628,667 shares of the company's stock worth $3,986,000 after buying an additional 186,255 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Sleep Number by 102.7% in the 1st quarter. Federated Hermes Inc. now owns 98,212 shares of the company's stock worth $623,000 after buying an additional 49,764 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Sleep Number in the 1st quarter worth about $279,000. Institutional investors and hedge funds own 85.67% of the company's stock.

Analysts Set New Price Targets

SNBR has been the topic of several recent research reports. Wall Street Zen cut Sleep Number from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. UBS Group set a $7.00 target price on shares of Sleep Number in a report on Friday, April 25th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Sleep Number currently has an average rating of "Hold" and an average price target of $8.33.

Sleep Number Price Performance

Shares of SNBR stock traded up $0.79 during mid-day trading on Friday, hitting $11.05. The stock had a trading volume of 821,875 shares, compared to its average volume of 956,838. Sleep Number Corporation has a fifty-two week low of $4.48 and a fifty-two week high of $20.75. The firm has a market cap of $251.61 million, a PE ratio of -6.07 and a beta of 1.71. The company's 50-day simple moving average is $8.20 and its 200-day simple moving average is $8.90.

Sleep Number (NASDAQ:SNBR - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.97). The firm had revenue of $327.93 million for the quarter, compared to the consensus estimate of $357.42 million. During the same period in the previous year, the business earned ($0.22) EPS. The business's revenue for the quarter was down 19.7% on a year-over-year basis. Sleep Number has set its FY 2025 guidance at EPS. On average, analysts expect that Sleep Number Corporation will post -0.42 EPS for the current year.

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.