Jane Street Group LLC Sells 47,511 Shares of Sleep Number Co. (NASDAQ:SNBR)

Jane Street Group LLC lowered its holdings in Sleep Number Co. (NASDAQ:SNBR) by 41.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,349 shares of the company’s stock after selling 47,511 shares during the quarter. Jane Street Group LLC owned 0.30% of Sleep Number worth $1,026,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in Sleep Number by 1.1% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 137,463 shares of the company’s stock valued at $2,095,000 after purchasing an additional 1,496 shares in the last quarter. Summit Securities Group LLC purchased a new position in Sleep Number during the fourth quarter worth about $33,000. Northern Trust Corp increased its position in shares of Sleep Number by 1.1% during the fourth quarter. Northern Trust Corp now owns 198,667 shares of the company’s stock valued at $3,028,000 after acquiring an additional 2,167 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Sleep Number by 26.7% during the fourth quarter. Wells Fargo & Company MN now owns 13,063 shares of the company’s stock valued at $199,000 after acquiring an additional 2,756 shares during the last quarter. Finally, Inspire Investing LLC increased its position in shares of 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 acquiring an additional 3,071 shares during the last quarter. 85.67% of the stock is owned by hedge funds and other institutional investors.

Sleep Number Stock Down 0.4%

Shares of Sleep Number stock opened at $9.46 on Friday. Sleep Number Co. has a 52-week low of $4.48 and a 52-week high of $20.75. The company has a 50 day moving average of $6.82 and a 200 day moving average of $12.36. The company has a market capitalization of $214.36 million, a P/E ratio of -5.23 and a beta of 1.75.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.27). The company had revenue of $393.26 million for the quarter, compared to analysts’ expectations of $397.95 million. During the same period last year, the business posted ($0.33) EPS. Sleep Number’s revenue was down 16.4% compared to the same quarter last year. As a group, research analysts anticipate that Sleep Number Co. will post -0.42 earnings per share for the current fiscal year.

Insider Activity at Sleep Number

In related news, CFO Francis K. Lee purchased 7,200 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $7.12 per share, with a total value of $51,264.00. Following the purchase, the chief financial officer now directly owns 92,970 shares in the company, valued at $661,946.40. This trade represents a 8.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Linda Findley purchased 61,020 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $7.12 per share, for a total transaction of $434,462.40. Following the completion of the purchase, the chief executive officer now owns 604,106 shares in the company, valued at approximately $4,301,234.72. This trade represents a 11.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 80,220 shares of company stock worth $576,206 in the last 90 days. 6.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SNBR shares. Piper Sandler dropped their price objective on shares of Sleep Number from $11.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Wedbush dropped their price objective on shares of Sleep Number from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Wall Street Zen cut shares of Sleep Number from a “buy” rating to a “hold” rating in a 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.

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.