Jacobs Levy Equity Management Inc. boosted its holdings in Sleep Number Co. (NASDAQ:SNBR - Free Report) by 10.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 594,502 shares of the company's stock after buying an additional 54,801 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 2.66% of Sleep Number worth $9,060,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of Sleep Number during the fourth quarter worth $33,000. Tower Research Capital LLC TRC grew its position 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 acquiring an additional 7,438 shares during the period. Diametric Capital LP bought a new position in shares of Sleep Number in the 4th quarter valued at about $160,000. Proficio Capital Partners LLC bought a new position in shares of Sleep Number in the 4th quarter valued at about $183,000. Finally, Wells Fargo & Company MN grew its position in shares of Sleep Number by 26.7% in the 4th quarter. Wells Fargo & Company MN now owns 13,063 shares of the company's stock valued at $199,000 after acquiring an additional 2,756 shares during the period. 85.67% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, CFO Francis K. Lee acquired 7,200 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $7.12 per share, for a total transaction of $51,264.00. Following the transaction, the chief financial officer now directly owns 92,970 shares in the company, valued at $661,946.40. This trade represents a 8.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary T. Fazio acquired 12,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $7.54 per share, with a total value of $90,480.00. Following the completion of the transaction, the insider now owns 71,125 shares in the company, valued at $536,282.50. This represents a 20.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 80,220 shares of company stock worth $576,206. 6.80% of the stock is currently owned by corporate insiders.
Sleep Number Price Performance
Sleep Number stock traded down $0.38 during midday trading on Friday, hitting $9.27. The company's stock had a trading volume of 405,421 shares, compared to its average volume of 522,214. Sleep Number Co. has a 1-year low of $4.48 and a 1-year high of $20.75. The company has a 50-day moving average price of $6.61 and a two-hundred day moving average price of $12.45. The company has a market cap of $210.06 million, a price-to-earnings ratio of -5.12 and a beta of 1.75.
Sleep Number (NASDAQ:SNBR - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $397.95 million. During the same period last year, the business earned ($0.33) EPS. The firm's quarterly revenue was down 16.4% on a year-over-year basis. Sell-side analysts forecast that Sleep Number Co. will post -0.42 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts have recently commented on SNBR shares. UBS Group set a $7.00 price objective on shares of Sleep Number in a research report on Friday, April 25th. StockNews.com downgraded shares of Sleep Number from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Wedbush reduced their target price on shares of Sleep Number from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Finally, 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.
Read Our Latest Research Report on Sleep Number
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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