Sleep Number Co. (NASDAQ:SNBR) is Brightlight Capital Management LP's 3rd Largest Position

Brightlight Capital Management LP boosted its holdings in Sleep Number Co. (NASDAQ:SNBR - Free Report) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 982,488 shares of the company's stock after buying an additional 107,837 shares during the period. Sleep Number makes up 10.9% of Brightlight Capital Management LP's investment portfolio, making the stock its 3rd biggest holding. Brightlight Capital Management LP owned approximately 4.39% of Sleep Number worth $14,973,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNBR. Schwarz Dygos Wheeler Investment Advisors LLC grew its position 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 grew its holdings in 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. Summit Securities Group LLC purchased a new position in Sleep Number during the 4th quarter valued at about $33,000. Northern Trust Corp increased its position in shares of Sleep Number by 1.1% during the fourth quarter. Northern Trust Corp now owns 198,667 shares of the company's stock valued at $3,028,000 after buying an additional 2,167 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Sleep Number by 26.7% in the fourth quarter. Wells Fargo & Company MN now owns 13,063 shares of the company's stock worth $199,000 after buying an additional 2,756 shares in the last quarter. Institutional investors own 85.67% of the company's stock.

Insider Buying and Selling at Sleep Number

In other Sleep Number news, insider Gary T. Fazio acquired 12,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $7.54 per share, for a total transaction of $90,480.00. Following the acquisition, the insider now owns 71,125 shares in the company, valued at $536,282.50. This represents 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. Also, CEO Linda Findley acquired 61,020 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $7.12 per share, for a total transaction of $434,462.40. Following the completion of the transaction, the chief executive officer now owns 604,106 shares in the company, valued at approximately $4,301,234.72. The trade was a 11.24 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 80,220 shares of company stock worth $576,206. 6.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on SNBR shares. Piper Sandler decreased their price target 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. UBS Group set a $7.00 target price on Sleep Number in a research note on Friday, April 25th. Wedbush dropped their price target on Sleep Number from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Finally, StockNews.com lowered Sleep Number from a "buy" rating to a "hold" rating in a report on Thursday, May 1st.

Sleep Number Stock Performance

SNBR stock traded up $0.37 during trading on Friday, hitting $8.00. 724,822 shares of the company traded hands, compared to its average volume of 517,632. The company has a 50-day moving average of $6.55 and a 200-day moving average of $12.60. The firm has a market capitalization of $181.28 million, a PE ratio of -4.42 and a beta of 1.75. Sleep Number Co. has a 1 year low of $4.48 and a 1 year high of $20.75.

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 firm had revenue of $393.26 million for the quarter, compared to analysts' expectations of $397.95 million. During the same quarter last year, the company earned ($0.33) EPS. The business's revenue was down 16.4% on a year-over-year basis. Sell-side analysts expect that Sleep Number Co. will post -0.42 EPS for the current year.

Sleep Number Company 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.