Invesco Ltd. Sells 43,081 Shares of Sleep Number Co. (NASDAQ:SNBR)

Invesco Ltd. trimmed its stake in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,303 shares of the company's stock after selling 43,081 shares during the period. Invesco Ltd. owned about 0.98% of Sleep Number worth $3,342,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in shares of Sleep Number by 1.1% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 137,463 shares of the company's stock valued at $2,095,000 after purchasing an additional 1,496 shares in the last quarter. GAMMA Investing LLC raised its position in Sleep Number by 28.8% in the 4th quarter. GAMMA Investing LLC now owns 7,443 shares of the company's stock valued at $113,000 after buying an additional 1,664 shares during the last quarter. Summit Securities Group LLC bought a new stake in Sleep Number in the 4th quarter valued at approximately $33,000. Wells Fargo & Company MN boosted its position in Sleep Number by 26.7% during the 4th quarter. Wells Fargo & Company MN now owns 13,063 shares of the company's stock worth $199,000 after acquiring an additional 2,756 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Sleep Number by 13.4% during the 4th quarter. Inspire Investing LLC now owns 25,917 shares of the company's stock worth $395,000 after acquiring an additional 3,071 shares in the last quarter. 85.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNBR. Piper Sandler reduced 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. Wedbush decreased their price objective on Sleep Number from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. UBS Group set a $7.00 target price on Sleep Number in a research report on Friday, April 25th. Finally, StockNews.com cut Sleep Number from a "buy" rating to a "hold" rating in a research report on Thursday.

Sleep Number Price Performance

SNBR stock traded down $0.79 during trading hours on Friday, reaching $7.26. The stock had a trading volume of 309,019 shares, compared to its average volume of 511,109. The stock has a 50-day simple moving average of $7.34 and a 200 day simple moving average of $12.95. Sleep Number Co. has a fifty-two week low of $4.48 and a fifty-two week high of $20.75. The stock has a market capitalization of $164.42 million, a PE ratio of -4.04 and a beta of 2.07.

Sleep Number (NASDAQ:SNBR - Get Free Report) last issued 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 company had revenue of $393.26 million for the quarter, compared to analyst estimates of $397.95 million. The business's revenue was down 16.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.33) EPS. On average, sell-side analysts forecast that Sleep Number Co. will post -0.42 EPS for the current fiscal year.

Insider Transactions at Sleep Number

In related news, insider Gary T. Fazio acquired 12,000 shares of Sleep Number stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $7.54 per share, with a total value of $90,480.00. Following the completion of the transaction, the insider now directly owns 71,125 shares in the company, valued at $536,282.50. This trade represents a 20.30 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is currently owned by corporate 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.