Inspire Investing LLC Makes New $419,000 Investment in Sleep Number Co. (NASDAQ:SNBR)

Inspire Investing LLC bought a new stake in Sleep Number Co. (NASDAQ:SNBR) in the third quarter, HoldingsChannel.com reports. The firm bought 22,846 shares of the company’s stock, valued at approximately $419,000.

A number of other institutional investors also recently modified their holdings of SNBR. GAMMA Investing LLC increased its position in Sleep Number by 250.6% during the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock worth $68,000 after acquiring an additional 3,027 shares during the period. Quarry LP acquired a new position in shares of Sleep Number during the 2nd quarter worth approximately $43,000. State Board of Administration of Florida Retirement System bought a new position in shares of Sleep Number during the first quarter worth approximately $149,000. SG Americas Securities LLC acquired a new stake in shares of Sleep Number in the third quarter valued at approximately $210,000. Finally, XTX Topco Ltd bought a new stake in shares of Sleep Number in the second quarter valued at approximately $128,000. Institutional investors own 85.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Sleep Number

In related news, Director Stephen E. Macadam bought 43,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $12.35 per share, with a total value of $531,050.00. Following the completion of the purchase, the director now owns 102,729 shares in the company, valued at $1,268,703.15. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 6.80% of the stock is owned by insiders.

Sleep Number Trading Up 5.1 %

Shares of Sleep Number stock opened at $15.35 on Wednesday. The company has a market cap of $342.70 million, a PE ratio of -10.10 and a beta of 2.06. The company has a 50 day moving average of $15.26 and a 200-day moving average of $13.57. Sleep Number Co. has a 1-year low of $8.13 and a 1-year high of $22.36.

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

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.