Susquehanna Fundamental Investments LLC purchased a new stake in Sleep Number Co. (NASDAQ:SNBR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,518 shares of the company's stock, valued at approximately $602,000. Susquehanna Fundamental Investments LLC owned approximately 0.18% of Sleep Number at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC bought a new stake in Sleep Number in the fourth quarter valued at about $14,861,000. Hodges Capital Management Inc. grew its position in shares of Sleep Number by 22.7% in the 4th quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company's stock worth $18,905,000 after acquiring an additional 229,587 shares in the last quarter. Formula Growth Ltd. increased its holdings in shares of Sleep Number by 31.8% in the 4th quarter. Formula Growth Ltd. now owns 485,206 shares of the company's stock valued at $7,395,000 after acquiring an additional 117,055 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Sleep Number by 98.0% during the 4th quarter. JPMorgan Chase & Co. now owns 226,144 shares of the company's stock valued at $3,446,000 after acquiring an additional 111,915 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Sleep Number by 18.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 385,599 shares of the company's stock worth $5,877,000 after purchasing an additional 60,410 shares during the last quarter. 85.67% of the stock is currently owned by institutional investors.
Sleep Number Stock Down 11.4 %
SNBR stock opened at $7.13 on Friday. The stock has a market cap of $161.57 million, a PE ratio of -3.94 and a beta of 1.75. The firm's 50-day simple moving average is $7.19 and its 200 day simple moving average is $12.87. Sleep Number Co. has a fifty-two week low of $4.48 and a fifty-two week high of $20.75.
Sleep Number (NASDAQ:SNBR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.27). The firm had revenue of $393.26 million during the quarter, compared to the consensus estimate of $397.95 million. During the same quarter in the previous year, the business posted ($0.33) earnings per share. The company's revenue was down 16.4% on a year-over-year basis. Equities analysts forecast that Sleep Number Co. will post -0.42 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on SNBR. Piper Sandler dropped their target price 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. Wedbush cut their target price on shares of Sleep Number from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. UBS Group set a $7.00 target price on Sleep Number in a research note on Friday, April 25th. Finally, StockNews.com cut Sleep Number from a "buy" rating to a "hold" rating in a research report on Thursday.
Read Our Latest Analysis on SNBR
Insiders Place Their Bets
In related news, insider Gary T. Fazio bought 12,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $7.54 per share, for a total transaction of $90,480.00. Following the transaction, the insider now directly owns 71,125 shares of the company's stock, valued at approximately $536,282.50. This represents a 20.30 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is currently owned by insiders.
Sleep Number Profile
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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.
Further Reading
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