Victory Capital Management Inc. purchased a new position in shares of Sleep Number Corporation (NASDAQ:SNBR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 44,052 shares of the company's stock, valued at approximately $279,000. Victory Capital Management Inc. owned approximately 0.19% of Sleep Number at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Focus Financial Network Inc. bought a new stake in Sleep Number during the 1st quarter worth about $67,000. CWM LLC raised its holdings in shares of Sleep Number by 218.7% in the 1st quarter. CWM LLC now owns 11,963 shares of the company's stock valued at $76,000 after purchasing an additional 8,209 shares during the period. GAMMA Investing LLC raised its holdings in shares of Sleep Number by 116.1% in the 1st quarter. GAMMA Investing LLC now owns 16,085 shares of the company's stock valued at $102,000 after purchasing an additional 8,642 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Sleep Number by 6,582.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,551 shares of the company's stock valued at $115,000 after purchasing an additional 7,438 shares during the period. Finally, Alpha Wealth Funds LLC bought a new stake in shares of Sleep Number in the 4th quarter valued at about $153,000. 85.67% of the stock is owned by institutional investors.
Insider Activity
In related news, CEO Linda Findley purchased 61,020 shares of the stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $7.12 per share, with a total value of $434,462.40. Following the acquisition, the chief executive officer directly owned 604,106 shares in the company, valued at $4,301,234.72. The trade was a 11.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Francis K. Lee bought 7,200 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average price of $7.12 per share, for a total transaction of $51,264.00. Following the transaction, the chief financial officer owned 92,970 shares in the company, valued at approximately $661,946.40. This represents a 8.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.50% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Piper Sandler dropped their target price on shares of Sleep Number from $11.00 to $6.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Wall Street Zen cut shares of Sleep Number from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, UBS Group set a $7.00 target price on shares of Sleep Number in a report on Friday, April 25th.
Get Our Latest Analysis on Sleep Number
Sleep Number Stock Down 2.6%
Sleep Number stock opened at $7.14 on Friday. The stock has a market cap of $161.79 million, a P/E ratio of -3.92 and a beta of 1.71. Sleep Number Corporation has a twelve month low of $4.48 and a twelve month high of $20.75. The company's 50-day moving average price is $8.09 and its two-hundred day moving average price is $9.65.
Sleep Number (NASDAQ:SNBR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.97). The business had revenue of $327.93 million for the quarter, compared to analysts' expectations of $357.42 million. The firm's revenue for the quarter was down 19.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.22) earnings per share. Equities analysts anticipate that Sleep Number Corporation will post -0.42 earnings per share for the current fiscal year.
About Sleep Number
(
Free Report)
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.
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