Squarepoint Ops LLC Boosts Stock Holdings in Sleep Number Co. (NASDAQ:SNBR)

Squarepoint Ops LLC increased its stake in Sleep Number Co. (NASDAQ:SNBR) by 240.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,493 shares of the company’s stock after acquiring an additional 87,184 shares during the period. Squarepoint Ops LLC owned approximately 0.55% of Sleep Number worth $1,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNBR. GAMMA Investing LLC increased its holdings in Sleep Number by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock worth $68,000 after purchasing an additional 3,027 shares during the period. XTX Topco Ltd purchased a new stake in shares of Sleep Number during the second quarter worth approximately $128,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Sleep Number during the first quarter worth approximately $149,000. Renaissance Technologies LLC acquired a new stake in Sleep Number in the second quarter valued at approximately $195,000. Finally, Invenomic Capital Management LP purchased a new position in Sleep Number in the fourth quarter worth approximately $221,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on SNBR. StockNews.com downgraded shares of Sleep Number from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Piper Sandler increased their target price on Sleep Number from $12.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th.

Sleep Number Stock Up 6.5 %

Shares of SNBR opened at $18.25 on Friday. The company has a market capitalization of $407.45 million, a price-to-earnings ratio of -12.01 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 stock has a 50 day moving average price of $14.79 and a 200 day moving average price of $13.55.

Sleep Number (NASDAQ:SNBR) last issued its earnings results on Wednesday, July 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.22. The company had revenue of $408.40 million during the quarter, compared to analyst estimates of $415.05 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company’s quarterly revenue was down 11.0% on a year-over-year basis. On average, equities analysts anticipate that Sleep Number Co. will post -0.13 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephen E. Macadam purchased 43,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $12.35 per share, with a total value of $531,050.00. Following the completion of the transaction, the director now directly owns 102,729 shares in the company, valued at approximately $1,268,703.15. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.