Sleep Number Co. (NASDAQ:SNBR) CFO Acquires $51,264.00 in Stock

Sleep Number Co. (NASDAQ:SNBR) CFO Francis K. Lee bought 7,200 shares of the stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $7.12 per share, for a total transaction of $51,264.00. Following the completion of the purchase, the chief financial officer now directly owns 92,970 shares in the company, valued at approximately $661,946.40. This represents a 8.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sleep Number Stock Up 4.8%

SNBR opened at $8.00 on Monday. The business’s fifty day simple moving average is $6.55 and its 200 day simple moving average is $12.60. Sleep Number Co. has a 52 week low of $4.48 and a 52 week high of $20.75. The stock has a market cap of $181.28 million, a PE ratio of -4.42 and a beta of 1.75.

Sleep Number (NASDAQ:SNBR) last announced 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 firm had revenue of $393.26 million during the quarter, compared to analysts’ expectations of $397.95 million. The company’s revenue was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.33) EPS. As a group, equities analysts anticipate that Sleep Number Co. will post -0.42 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wedbush lowered their price target on Sleep Number from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Piper Sandler lowered their target price on shares of Sleep Number from $11.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. StockNews.com lowered shares of Sleep Number from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, UBS Group set a $7.00 price target on shares of Sleep Number in a research note on Friday, April 25th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Sleep Number by 276.5% in the 3rd quarter. Barclays PLC now owns 28,280 shares of the company’s stock valued at $518,000 after purchasing an additional 20,769 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Sleep Number by 1,071.9% in the third quarter. JPMorgan Chase & Co. now owns 114,229 shares of the company’s stock worth $2,093,000 after purchasing an additional 104,482 shares during the last quarter. GAMMA Investing LLC boosted its position in Sleep Number by 28.8% during the fourth quarter. GAMMA Investing LLC now owns 7,443 shares of the company’s stock valued at $113,000 after buying an additional 1,664 shares during the period. Inspire Investing LLC boosted its position in Sleep Number by 13.4% during the fourth quarter. Inspire Investing LLC now owns 25,917 shares of the company’s stock valued at $395,000 after buying an additional 3,071 shares during the period. Finally, Hodges Capital Management Inc. grew its stake in shares of Sleep Number by 22.7% during the fourth quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company’s stock valued at $18,905,000 after buying an additional 229,587 shares during the last quarter. 85.67% of the stock is currently owned by institutional investors.

Sleep Number Company Profile

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.