Millennium Management LLC grew its holdings in Sleep Number Co. (NASDAQ:SNBR – Free Report) by 326.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 370,987 shares of the company’s stock after buying an additional 284,052 shares during the quarter. Millennium Management LLC owned 1.66% of Sleep Number worth $3,550,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Maverick Capital Ltd. lifted its stake in Sleep Number by 17.4% during the second quarter. Maverick Capital Ltd. now owns 20,136 shares of the company’s stock worth $193,000 after purchasing an additional 2,980 shares during the period. Dark Forest Capital Management LP raised its holdings in shares of Sleep Number by 19.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 30,098 shares of the company’s stock worth $288,000 after buying an additional 4,894 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Sleep Number by 166.1% during the 2nd quarter. AQR Capital Management LLC now owns 107,905 shares of the company’s stock worth $1,033,000 after buying an additional 67,354 shares during the period. Squarepoint Ops LLC boosted its stake in Sleep Number by 240.1% in the 2nd quarter. Squarepoint Ops LLC now owns 123,493 shares of the company’s stock valued at $1,182,000 after buying an additional 87,184 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Sleep Number by 32.7% in the second quarter. Cubist Systematic Strategies LLC now owns 82,248 shares of the company’s stock valued at $787,000 after acquiring an additional 20,246 shares during the period. 85.67% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Sleep Number from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Piper Sandler lifted their price objective on Sleep Number from $12.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th.
Insider Activity at Sleep Number
In other news, Director Stephen E. Macadam bought 43,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $12.35 per share, for a total transaction of $531,050.00. Following the completion of the acquisition, the director now owns 102,729 shares in the company, valued at approximately $1,268,703.15. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is currently owned by corporate insiders.
Sleep Number Stock Performance
Shares of SNBR opened at $14.63 on Monday. The firm has a market capitalization of $326.63 million, a price-to-earnings ratio of -9.63 and a beta of 2.06. Sleep Number Co. has a 52 week low of $8.13 and a 52 week high of $22.36. The business’s fifty day moving average price is $15.14 and its two-hundred day moving average price is $13.60.
Sleep Number (NASDAQ:SNBR – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.22. The business had revenue of $408.40 million for the quarter, compared to analyst estimates of $415.05 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. As a group, research analysts forecast that Sleep Number Co. will post -0.13 EPS for the current year.
About Sleep Number
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.
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