Jacobs Levy Equity Management Inc. Buys 54,801 Shares of Sleep Number Co. (NASDAQ:SNBR)

Jacobs Levy Equity Management Inc. lifted its stake in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 594,502 shares of the company's stock after purchasing an additional 54,801 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 2.66% of Sleep Number worth $9,060,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SNBR. Barclays PLC boosted its holdings in Sleep Number by 276.5% in the third quarter. Barclays PLC now owns 28,280 shares of the company's stock valued at $518,000 after acquiring an additional 20,769 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Sleep Number by 1,071.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 114,229 shares of the company's stock valued at $2,093,000 after purchasing an additional 104,482 shares during the last quarter. Inspire Investing LLC grew its position 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 buying an additional 3,071 shares during the period. Hodges Capital Management Inc. lifted its holdings in Sleep Number by 22.7% in the fourth quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company's stock valued at $18,905,000 after buying an additional 229,587 shares during the period. Finally, First Dallas Securities Inc. boosted its stake in Sleep Number by 40.7% in the fourth quarter. First Dallas Securities Inc. now owns 41,500 shares of the company's stock valued at $632,000 after acquiring an additional 12,000 shares during the last quarter. 85.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Sleep Number

In other Sleep Number news, insider Gary T. Fazio purchased 12,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $7.54 per share, for a total transaction of $90,480.00. Following the purchase, the insider now owns 71,125 shares in the company, valued at approximately $536,282.50. The trade was a 20.30% 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 purchased 7,200 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $7.12 per share, with a total value of $51,264.00. Following the acquisition, the chief financial officer now directly owns 92,970 shares in the company, valued at approximately $661,946.40. The trade was a 8.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 80,220 shares of company stock worth $576,206 over the last quarter. 6.80% of the stock is currently owned by insiders.

Sleep Number Stock Performance

SNBR traded down $0.10 on Monday, hitting $9.18. 44,583 shares of the company were exchanged, compared to its average volume of 520,322. The stock's fifty day moving average is $6.61 and its 200-day moving average is $12.45. Sleep Number Co. has a 12 month low of $4.48 and a 12 month high of $20.75. The company has a market cap of $207.91 million, a PE ratio of -5.06 and a beta of 1.75.

Sleep Number (NASDAQ:SNBR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.27). The business had revenue of $393.26 million during the quarter, compared to analysts' expectations of $397.95 million. The firm's revenue was down 16.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.33) earnings per share. As a group, equities research analysts expect that Sleep Number Co. will post -0.42 EPS for the current fiscal year.

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.