Dimensional Fund Advisors LP Buys 41,217 Shares of Sleep Number Co. (NASDAQ:SNBR)

Dimensional Fund Advisors LP grew its stake in Sleep Number Co. (NASDAQ:SNBR) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 425,278 shares of the company’s stock after purchasing an additional 41,217 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.90% of Sleep Number worth $6,482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Summit Securities Group LLC bought a new stake in shares of Sleep Number in the 4th quarter worth $33,000. Diametric Capital LP bought a new position in shares of Sleep Number during the 4th quarter worth approximately $160,000. Proficio Capital Partners LLC purchased a new position in shares of Sleep Number in the 4th quarter worth approximately $183,000. Wells Fargo & Company MN boosted its stake in shares of Sleep Number by 26.7% in the 4th quarter. Wells Fargo & Company MN now owns 13,063 shares of the company’s stock worth $199,000 after buying an additional 2,756 shares during the last quarter. Finally, Olympiad Research LP bought a new position in shares of Sleep Number in the fourth quarter valued at approximately $221,000. 85.67% of the stock is owned by hedge funds and other institutional investors.

Sleep Number Trading Up 4.8%

Sleep Number stock opened at $8.00 on Monday. The business’s 50 day simple moving average is $6.55 and its 200 day simple moving average is $12.60. Sleep Number Co. has a 12 month low of $4.48 and a 12 month high of $20.75. The company has a market cap of $181.28 million, a price-to-earnings ratio of -4.42 and a beta of 1.75.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates 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. During the same quarter in the previous year, the company earned ($0.33) earnings per share. Sleep Number’s revenue was down 16.4% on a year-over-year basis. As a group, equities research analysts forecast that Sleep Number Co. will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Sleep Number

In other Sleep Number news, CFO Francis K. Lee bought 7,200 shares of the stock in a transaction on Wednesday, May 7th. The shares were acquired at an average price of $7.12 per share, with a total value of $51,264.00. Following the acquisition, the chief financial officer now directly owns 92,970 shares of the company’s stock, valued at $661,946.40. The trade was a 8.39% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Linda Findley bought 61,020 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $7.12 per share, for a total transaction of $434,462.40. Following the transaction, the chief executive officer now owns 604,106 shares of the company’s stock, valued at approximately $4,301,234.72. This represents a 11.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 80,220 shares of company stock valued at $576,206 over the last three months. 6.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on SNBR shares. Wedbush dropped 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. StockNews.com cut Sleep Number from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Piper Sandler cut their price target on shares of Sleep Number from $11.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, UBS Group set a $7.00 price target on shares of Sleep Number in a research report on Friday, April 25th.

Sleep Number 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.