Acadian Asset Management LLC raised its holdings in shares of Sleep Number Co. (NASDAQ:SNBR) by 26.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 104,797 shares of the company’s stock after purchasing an additional 21,828 shares during the period. Acadian Asset Management LLC’s holdings in Sleep Number were worth $5,128,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of SNBR. Peregrine Capital Management LLC purchased a new position in Sleep Number during the 2nd quarter valued at about $18,491,000. Thrivent Financial for Lutherans increased its holdings in Sleep Number by 1,110.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 288,475 shares of the company’s stock valued at $12,013,000 after acquiring an additional 264,651 shares in the last quarter. LSV Asset Management increased its holdings in Sleep Number by 11.6% during the 2nd quarter. LSV Asset Management now owns 1,292,824 shares of the company’s stock valued at $53,833,000 after acquiring an additional 134,124 shares in the last quarter. Bank of Montreal Can increased its holdings in Sleep Number by 190.5% during the 2nd quarter. Bank of Montreal Can now owns 188,309 shares of the company’s stock valued at $8,813,000 after acquiring an additional 123,490 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in Sleep Number during the 2nd quarter valued at about $3,197,000. Hedge funds and other institutional investors own 96.69% of the company’s stock.
SNBR has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Sleep Number from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Bank of America upgraded shares of Sleep Number from an “underperform” rating to a “neutral” rating and set a $73.00 price target for the company in a report on Tuesday, November 17th. Wedbush reiterated a “neutral” rating on shares of Sleep Number in a report on Monday, October 12th. ValuEngine downgraded shares of Sleep Number from a “hold” rating to a “sell” rating in a report on Friday, October 23rd. Finally, BidaskClub upgraded shares of Sleep Number from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 20th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $54.67.
Sleep Number stock opened at $68.75 on Friday. Sleep Number Co. has a 1 year low of $15.27 and a 1 year high of $74.36. The firm has a 50 day moving average price of $62.53 and a 200 day moving average price of $47.50. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.89 and a beta of 2.16.
Sleep Number (NASDAQ:SNBR) last released its earnings results on Monday, October 19th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.73. The firm had revenue of $531.16 million during the quarter, compared to the consensus estimate of $515.82 million. Sleep Number had a net margin of 5.89% and a negative return on equity of 70.15%. Sleep Number’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. As a group, analysts anticipate that Sleep Number Co. will post 4.06 EPS for the current fiscal year.
In other Sleep Number news, SVP Joseph Hunter Saklad sold 14,374 shares of Sleep Number stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $64.15, for a total transaction of $922,092.10. Following the transaction, the senior vice president now directly owns 67,574 shares of the company’s stock, valued at $4,334,872.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen L. Gulis, Jr. sold 9,902 shares of Sleep Number stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $64.62, for a total transaction of $639,867.24. Following the transaction, the director now directly owns 28,896 shares in the company, valued at $1,867,259.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,291 shares of company stock worth $4,741,704. 6.00% of the stock is currently owned by corporate insiders.
About Sleep Number
Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding product under the Sleep Number name. It also offers adjustable bases under the FlextFit name; temperature-balancing products, including DualTemp layer; SleepIQ Kids k2 beds for kids; and smart beds under the Sleep Number 360 brand name.
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