Van Lanschot Kempen Investment Management N.V. Lowers Position in Sleep Number Corporation $SNBR

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. cut its position in Sleep Number Corporation (NASDAQ:SNBR - Free Report) by 60.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 398,687 shares of the company's stock after selling 598,615 shares during the period. Van Lanschot Kempen Investment Management N.V. owned 1.76% of Sleep Number worth $2,528,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SNBR. Focus Financial Network Inc. purchased a new position in shares of Sleep Number in the 1st quarter worth approximately $67,000. CWM LLC grew its stake in Sleep Number by 218.7% in the 1st quarter. CWM LLC now owns 11,963 shares of the company's stock worth $76,000 after buying an additional 8,209 shares in the last quarter. GAMMA Investing LLC increased its stake in Sleep Number by 116.1% in the first quarter. GAMMA Investing LLC now owns 16,085 shares of the company's stock valued at $102,000 after acquiring an additional 8,642 shares during the last quarter. Tower Research Capital LLC TRC increased its stake 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. Finally, Alpha Wealth Funds LLC bought a new position in Sleep Number in the fourth quarter valued at $153,000. Institutional investors and hedge funds own 85.67% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Sleep Number from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.33.

Sleep Number Trading Down 4.6%

Shares of NASDAQ:SNBR traded down $0.5060 on Monday, reaching $10.5440. 173,306 shares of the company traded hands, compared to its average volume of 652,702. The business's 50-day simple moving average is $8.20 and its 200 day simple moving average is $8.78. Sleep Number Corporation has a 52 week low of $4.48 and a 52 week high of $20.75. The stock has a market capitalization of $240.10 million, a P/E ratio of -5.81 and a beta of 1.71.

Sleep Number (NASDAQ:SNBR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.97). The firm had revenue of $327.93 million during the quarter, compared to analysts' expectations of $357.42 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. The company's revenue was down 19.7% on a year-over-year basis. Sleep Number has set its FY 2025 guidance at EPS. Sell-side analysts expect that Sleep Number Corporation will post -0.42 EPS for the current fiscal 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.