Sleep Number Co. (NASDAQ:SNBR) Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its holdings in shares of Sleep Number Co. (NASDAQ:SNBR) by 26.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,797 shares of the company’s stock after purchasing an additional 21,828 shares during the period. Acadian Asset Management LLC owned about 0.38% of Sleep Number worth $5,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC lifted its position in Sleep Number by 17.3% during the second quarter. AQR Capital Management LLC now owns 49,612 shares of the company’s stock valued at $2,066,000 after purchasing an additional 7,304 shares during the period. Bank of America Corp DE lifted its position in Sleep Number by 38.3% during the second quarter. Bank of America Corp DE now owns 93,646 shares of the company’s stock valued at $3,899,000 after purchasing an additional 25,929 shares during the period. Barclays PLC lifted its position in Sleep Number by 2.8% during the second quarter. Barclays PLC now owns 50,562 shares of the company’s stock valued at $2,104,000 after purchasing an additional 1,383 shares during the period. Morgan Stanley lifted its position in Sleep Number by 3.7% during the first quarter. Morgan Stanley now owns 460,999 shares of the company’s stock valued at $8,832,000 after purchasing an additional 16,301 shares during the period. Finally, Handelsbanken Fonder AB acquired a new position in Sleep Number during the second quarter valued at $226,000. Institutional investors own 96.69% of the company’s stock.

SNBR stock opened at $68.75 on Friday. The stock has a market capitalization of $1.91 billion, a P/E ratio of 19.53, a P/E/G ratio of 1.89 and a beta of 2.16. The firm has a 50-day simple moving average of $62.53 and a 200-day simple moving average of $47.50. Sleep Number Co. has a 52 week low of $15.27 and a 52 week high of $74.36.

Sleep Number (NASDAQ:SNBR) last released its earnings results on Monday, October 19th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.73. The business had revenue of $531.16 million during the quarter, compared to analysts’ expectations of $515.82 million. Sleep Number had a net margin of 5.89% and a negative return on equity of 70.15%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.94 earnings per share. On average, equities research analysts expect that Sleep Number Co. will post 4.06 earnings per share for the current year.

A number of research analysts have weighed in on the stock. ValuEngine downgraded shares of Sleep Number from a “hold” rating to a “sell” rating in a research report on Friday, October 23rd. Bank of America upgraded shares of Sleep Number from an “underperform” rating to a “neutral” rating and set a $73.00 price objective for the company in a research report on Tuesday, November 17th. Zacks Investment Research downgraded shares of Sleep Number from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, September 16th. BidaskClub upgraded shares of Sleep Number from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Finally, Piper Sandler upped their price objective on shares of Sleep Number from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Sleep Number presently has a consensus rating of “Hold” and an average price target of $54.67.

In related news, Director Kathleen L. Nedorostek sold 800 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $63.28, for a total transaction of $50,624.00. Following the completion of the sale, the director now owns 18,196 shares of the company’s stock, valued at approximately $1,151,442.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joseph Hunter Saklad sold 14,374 shares of the company’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $64.15, for a total transaction of $922,092.10. Following the sale, the senior vice president now directly owns 67,574 shares of the company’s stock, valued at approximately $4,334,872.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,291 shares of company stock valued at $4,741,704. 6.00% of the stock is owned by corporate insiders.

Sleep Number Company Profile

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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Institutional Ownership by Quarter for Sleep Number (NASDAQ:SNBR)

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