Insider Buying: Sleep Number Co. (NASDAQ:SNBR) CFO Acquires 7,200 Shares of Stock

Sleep Number Co. (NASDAQ:SNBR) CFO Francis K. Lee purchased 7,200 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $7.12 per share, for a total transaction of $51,264.00. Following the acquisition, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Sleep Number Trading Up 4.8%

NASDAQ:SNBR opened at $8.00 on Monday. Sleep Number Co. has a 12 month low of $4.48 and a 12 month high of $20.75. The company has a 50-day moving average price of $6.55 and a 200-day moving average price of $12.60. The stock has a market cap of $181.28 million, a price-to-earnings ratio of -4.42 and a beta of 1.75.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.38) EPS 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. Sleep Number’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.33) EPS. Equities analysts forecast that Sleep Number Co. will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in Sleep Number in the fourth quarter worth $33,000. Focus Financial Network Inc. bought a new stake in shares of Sleep Number during the 1st quarter valued at $67,000. CWM LLC grew its position in shares of Sleep Number by 218.7% in the 1st quarter. CWM LLC now owns 11,963 shares of the company’s stock worth $76,000 after buying an additional 8,209 shares during the period. GAMMA Investing LLC grew its position in shares of Sleep Number by 116.1% in the 1st quarter. GAMMA Investing LLC now owns 16,085 shares of the company’s stock worth $102,000 after buying an additional 8,642 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake 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 worth $115,000 after acquiring an additional 7,438 shares in the last quarter. Hedge funds and other institutional investors own 85.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently 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 for the company in a report on Friday, April 11th. StockNews.com cut Sleep Number from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. UBS Group set a $7.00 price objective on Sleep Number in a research report on Friday, April 25th. Finally, Wedbush decreased their target price on Sleep Number from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 6th.

About Sleep Number

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.