Francis K. Lee Acquires 7,200 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) CFO Francis K. Lee acquired 7,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average price of $7.12 per share, with a total value of $51,264.00. Following the completion of the acquisition, the chief financial officer now owns 92,970 shares of the company’s stock, valued at $661,946.40. This represents a 8.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Sleep Number Stock Performance

Shares of SNBR stock opened at $8.00 on Friday. The company has a market capitalization of $181.28 million, a price-to-earnings ratio of -4.42 and a beta of 1.75. The stock’s 50 day simple moving average is $6.55 and its 200 day simple moving average is $12.60. Sleep Number Co. has a twelve month low of $4.48 and a twelve month high of $20.75.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.27). The firm had revenue of $393.26 million for the quarter, compared to analyst estimates of $397.95 million. The company’s revenue was down 16.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.33) EPS. On average, analysts forecast that Sleep Number Co. will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Sleep Number

Institutional investors have recently made changes to their positions in the business. Schwarz Dygos Wheeler Investment Advisors LLC grew its holdings in Sleep Number by 1.1% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 137,463 shares of the company’s stock valued at $2,095,000 after buying an additional 1,496 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Sleep Number by 28.8% in the fourth quarter. GAMMA Investing LLC now owns 7,443 shares of the company’s stock valued at $113,000 after acquiring an additional 1,664 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Sleep Number in the fourth quarter worth $33,000. Northern Trust Corp increased its position in Sleep Number by 1.1% during the fourth quarter. Northern Trust Corp now owns 198,667 shares of the company’s stock worth $3,028,000 after acquiring an additional 2,167 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Sleep Number by 26.7% during the 4th quarter. Wells Fargo & Company MN now owns 13,063 shares of the company’s stock valued at $199,000 after purchasing an additional 2,756 shares during the last quarter. 85.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.