JPMorgan Chase & Co. Acquires 104,482 Shares of Sleep Number Co. (NASDAQ:SNBR)

JPMorgan Chase & Co. lifted its holdings in Sleep Number Co. (NASDAQ:SNBR) by 1,071.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,229 shares of the company’s stock after buying an additional 104,482 shares during the period. JPMorgan Chase & Co. owned about 0.51% of Sleep Number worth $2,093,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SNBR. Hodges Capital Management Inc. boosted its stake in shares of Sleep Number by 146.6% during the 3rd quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock worth $18,520,000 after purchasing an additional 601,005 shares during the period. Pacific Ridge Capital Partners LLC purchased a new position in shares of Sleep Number during the 2nd quarter worth about $3,342,000. Millennium Management LLC boosted its stake in shares of Sleep Number by 326.7% during the 2nd quarter. Millennium Management LLC now owns 370,987 shares of the company’s stock worth $3,550,000 after purchasing an additional 284,052 shares during the period. Stadium Capital Management LLC boosted its stake in shares of Sleep Number by 8.8% during the 3rd quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock worth $36,793,000 after purchasing an additional 162,164 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Sleep Number by 240.1% during the 2nd quarter. Squarepoint Ops LLC now owns 123,493 shares of the company’s stock worth $1,182,000 after purchasing an additional 87,184 shares during the period. 85.67% of the stock is currently owned by institutional investors.

Sleep Number Price Performance

Sleep Number stock opened at $17.91 on Wednesday. The stock has a market cap of $400.66 million, a price-to-earnings ratio of -9.89 and a beta of 2.07. Sleep Number Co. has a 1 year low of $8.13 and a 1 year high of $20.75. The firm has a 50-day moving average of $15.81 and a two-hundred day moving average of $14.55.

Wall Street Analyst Weigh In

A number of research firms recently commented on SNBR. Piper Sandler dropped their price target on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com raised shares of Sleep Number from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th.

Insider Transactions at Sleep Number

In other news, major shareholder Stadium Capital Management Llc acquired 36,097 shares of Sleep Number stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $13.09 per share, for a total transaction of $472,509.73. Following the purchase, the insider now directly owns 2,054,802 shares in the company, valued at $26,897,358.18. The trade was a 1.79 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders acquired 169,373 shares of company stock valued at $2,305,052. Company insiders own 6.80% of the company’s stock.

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.