Insider Selling: Sleep Number Corp (NASDAQ:SNBR) Director Sells 9,902 Shares of Stock

Sleep Number Corp (NASDAQ:SNBR) Director Stephen L. Gulis, Jr. sold 9,902 shares of the company’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $64.62, for a total transaction of $639,867.24. Following the completion of the transaction, the director now owns 28,896 shares of the company’s stock, valued at approximately $1,867,259.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of SNBR stock opened at $62.87 on Thursday. Sleep Number Corp has a 52 week low of $15.27 and a 52 week high of $67.30. The stock has a market capitalization of $1.75 billion, a PE ratio of 17.86, a P/E/G ratio of 1.89 and a beta of 2.16. The firm has a 50 day moving average of $53.58 and a two-hundred day moving average of $42.89.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings results on Monday, October 19th. The company reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.73. Sleep Number had a net margin of 5.89% and a negative return on equity of 70.15%. The company had revenue of $531.16 million during the quarter, compared to analysts’ expectations of $515.82 million. During the same quarter last year, the company posted $0.94 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts predict that Sleep Number Corp will post 4.06 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of SNBR. Deutsche Bank AG boosted its position in Sleep Number by 11.6% in the 1st quarter. Deutsche Bank AG now owns 21,777 shares of the company’s stock valued at $418,000 after buying an additional 2,256 shares during the period. Morgan Stanley boosted its position in Sleep Number by 3.7% in the 1st quarter. Morgan Stanley now owns 460,999 shares of the company’s stock valued at $8,832,000 after buying an additional 16,301 shares during the period. State of Tennessee Treasury Department boosted its position in Sleep Number by 4.9% in the 1st quarter. State of Tennessee Treasury Department now owns 24,954 shares of the company’s stock valued at $478,000 after buying an additional 1,169 shares during the period. Royal Bank of Canada boosted its position in Sleep Number by 117.6% in the 1st quarter. Royal Bank of Canada now owns 17,003 shares of the company’s stock valued at $325,000 after buying an additional 9,189 shares during the period. Finally, State Street Corp raised its holdings in shares of Sleep Number by 3.1% in the 1st quarter. State Street Corp now owns 858,176 shares of the company’s stock valued at $16,443,000 after purchasing an additional 26,149 shares in the last quarter. 96.69% of the stock is owned by institutional investors.

Several research analysts recently weighed in on the stock. Bank of America upped their price target on shares of Sleep Number from $31.00 to $44.00 and gave the stock an “underperform” rating in a research report on Thursday, October 15th. Piper Sandler increased their price target on shares of Sleep Number from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. BidaskClub raised shares of Sleep Number from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Raymond James reaffirmed a “hold” rating on shares of Sleep Number in a research report on Thursday, July 16th. Finally, Wedbush reaffirmed a “neutral” rating on shares of Sleep Number in a research report on Monday, October 12th. Four analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.83.

Sleep Number Company Profile

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

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Insider Buying and Selling by Quarter for Sleep Number (NASDAQ:SNBR)

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