Pacific Ridge Capital Partners LLC increased its position in shares of Sleep Number Corporation (NASDAQ:SNBR – Free Report) by 48.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,145,612 shares of the company’s stock after buying an additional 371,336 shares during the period. Sleep Number comprises approximately 2.1% of Pacific Ridge Capital Partners LLC’s holdings, making the stock its 7th largest holding. Pacific Ridge Capital Partners LLC owned about 5.03% of Sleep Number worth $9,692,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Round Rock Advisors LLC raised its position in shares of Sleep Number by 59.9% in the 4th quarter. Round Rock Advisors LLC now owns 64,187 shares of the company’s stock worth $543,000 after acquiring an additional 24,038 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Sleep Number in the 3rd quarter worth approximately $702,000. Worth Venture Partners LLC purchased a new stake in Sleep Number during the third quarter valued at approximately $105,000. PharVision Advisers LLC purchased a new position in Sleep Number in the third quarter worth $133,000. Finally, XTX Topco Ltd lifted its holdings in shares of Sleep Number by 437.0% during the 3rd quarter. XTX Topco Ltd now owns 105,706 shares of the company’s stock valued at $742,000 after purchasing an additional 86,020 shares during the last quarter. Hedge funds and other institutional investors own 85.67% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have commented on SNBR. UBS Group decreased their price target on Sleep Number from $10.00 to $4.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Wall Street Zen downgraded shares of Sleep Number from a “sell” rating to a “strong sell” rating in a report on Sunday, April 19th. Finally, Piper Sandler lowered their target price on shares of Sleep Number from $12.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $4.50.
Sleep Number Stock Down 14.0%
NASDAQ:SNBR opened at $2.45 on Tuesday. Sleep Number Corporation has a 52 week low of $1.06 and a 52 week high of $13.94. The stock’s 50-day moving average price is $2.93 and its 200-day moving average price is $6.11. The stock has a market capitalization of $56.01 million, a PE ratio of -0.43 and a beta of 2.71.
Sleep Number (NASDAQ:SNBR – Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($2.55) EPS for the quarter, missing the consensus estimate of ($0.56) by ($1.99). The business had revenue of $347.39 million during the quarter, compared to the consensus estimate of $328.67 million. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. Sell-side analysts expect that Sleep Number Corporation will post -0.66 earnings per share for the current fiscal year.
About Sleep Number
Sleep Number Corporation (NASDAQ: SNBR) is a Minneapolis‐based company specializing in the design, manufacture and retail of adjustable air mattresses and bedding products. The company’s flagship Sleep Number® bed features dual air chambers that allow each side of the mattress to be tailored to an individual’s preferred firmness, supported by integrated SleepIQ® technology. This proprietary monitoring system tracks biometric data such as heart rate, breathing and motion, delivering personalized sleep insights through a connected app.
Founded in 1987 as Select Comfort, the business pioneered adjustable air mattress technology and has since grown into a direct-to-consumer retailer.
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