JPMorgan Chase & Co. Purchases 111,915 Shares of Sleep Number Co. (NASDAQ:SNBR)

JPMorgan Chase & Co. raised its stake in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 98.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 226,144 shares of the company's stock after buying an additional 111,915 shares during the period. JPMorgan Chase & Co. owned about 1.01% of Sleep Number worth $3,446,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Schwarz Dygos Wheeler Investment Advisors LLC increased its holdings in Sleep Number by 1.1% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 137,463 shares of the company's stock worth $2,095,000 after acquiring an additional 1,496 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Sleep Number by 28.8% during 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 in the last quarter. State Street Corp boosted its holdings in Sleep Number by 0.6% in the 3rd quarter. State Street Corp now owns 440,547 shares of the company's stock worth $8,071,000 after buying an additional 2,472 shares during the period. Inspire Investing LLC increased its stake in Sleep Number by 13.4% in the 4th quarter. Inspire Investing LLC now owns 25,917 shares of the company's stock worth $395,000 after buying an additional 3,071 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Sleep Number by 9.1% during the fourth quarter. Rhumbline Advisers now owns 40,128 shares of the company's stock valued at $612,000 after acquiring an additional 3,342 shares during the period. 85.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Gary T. Fazio acquired 12,000 shares of Sleep Number stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $7.54 per share, with a total value of $90,480.00. Following the completion of the purchase, the insider now directly owns 71,125 shares of the company's stock, valued at $536,282.50. The trade was a 20.30 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNBR. Wedbush dropped their price objective on Sleep Number from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. StockNews.com raised shares of Sleep Number from a "hold" rating to a "buy" rating in a report on Thursday, January 9th. Finally, Piper Sandler reduced their price objective on shares of Sleep Number from $11.00 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th.

Sleep Number Stock Performance

NASDAQ:SNBR traded up $0.44 during trading hours on Friday, reaching $7.01. The stock had a trading volume of 636,636 shares, compared to its average volume of 495,159. The stock has a market capitalization of $158.85 million, a PE ratio of -3.87 and a beta of 2.07. Sleep Number Co. has a 52 week low of $4.48 and a 52 week high of $20.75. The company has a 50 day moving average price of $7.92 and a two-hundred day moving average price of $13.15.

Sleep Number Profile

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.