Charles Schwab Investment Management Inc. Lowers Stock Holdings in Sleep Number Co. (NASDAQ:SNBR)

Charles Schwab Investment Management Inc. cut its position in Sleep Number Co. (NASDAQ:SNBR) by 34.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 390,966 shares of the company’s stock after selling 204,846 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Sleep Number were worth $5,958,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Sleep Number by 28.8% in the 4th quarter. GAMMA Investing LLC now owns 7,443 shares of the company’s stock valued at $113,000 after acquiring an additional 1,664 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Sleep Number in the fourth quarter valued at approximately $183,000. PDT Partners LLC acquired a new position in shares of Sleep Number in the third quarter valued at approximately $241,000. Olympiad Research LP purchased a new stake in Sleep Number during the 4th quarter worth approximately $221,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Sleep Number during the 3rd quarter worth approximately $296,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number Trading Down 0.9 %

Shares of NASDAQ:SNBR opened at $6.89 on Tuesday. Sleep Number Co. has a 52 week low of $6.00 and a 52 week high of $20.75. The company’s 50 day moving average is $14.01 and its two-hundred day moving average is $15.12. The company has a market cap of $154.26 million, a PE ratio of -3.81 and a beta of 2.14.

Insider Buying and Selling

In other Sleep Number news, insider Gary T. Fazio bought 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $7.54 per share, for a total transaction of $90,480.00. Following the completion of the purchase, the insider now directly owns 71,125 shares in the company, valued at $536,282.50. This trade represents a 20.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SNBR. Wedbush dropped their price target on shares of Sleep Number from $18.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. StockNews.com raised Sleep Number from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Finally, Piper Sandler reduced their price target on Sleep Number from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th.

Sleep Number Company 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.