Canada Pension Plan Investment Board Has $285,000 Position in Sleep Number Co. (NASDAQ:SNBR)

Canada Pension Plan Investment Board lowered its stake in shares of Sleep Number Co. (NASDAQ:SNBR) by 47.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,800 shares of the company’s stock after selling 27,300 shares during the quarter. Canada Pension Plan Investment Board owned about 0.13% of Sleep Number worth $285,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Sleep Number by 250.6% in the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock worth $68,000 after buying an additional 3,027 shares during the last quarter. XTX Topco Ltd bought a new position in Sleep Number in the 2nd quarter worth $128,000. State Board of Administration of Florida Retirement System acquired a new position in Sleep Number during the 1st quarter worth $149,000. Renaissance Technologies LLC bought a new stake in Sleep Number during the second quarter valued at about $195,000. Finally, Invenomic Capital Management LP acquired a new stake in shares of Sleep Number in the fourth quarter valued at about $221,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Analyst Ratings Changes

SNBR has been the subject of several research analyst reports. Piper Sandler boosted their price objective on Sleep Number from $12.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. StockNews.com downgraded Sleep Number from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Insider Activity

In other Sleep Number news, Director Stephen E. Macadam purchased 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, for a total transaction of $531,050.00. Following the completion of the purchase, the director now directly owns 102,729 shares of the company’s stock, valued at $1,268,703.15. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.80% of the stock is currently owned by company insiders.

Sleep Number Price Performance

NASDAQ SNBR opened at $17.75 on Friday. The company’s fifty day moving average is $14.06 and its two-hundred day moving average is $13.44. The firm has a market capitalization of $396.29 million, a price-to-earnings ratio of -11.68 and a beta of 2.05. Sleep Number Co. has a 52-week low of $8.13 and a 52-week high of $25.05.

Sleep Number (NASDAQ:SNBR) last issued its quarterly 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 firm had revenue of $408.40 million for the quarter, compared to the consensus estimate of $415.05 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company’s revenue was down 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Sleep Number Co. will post -0.13 earnings per share for the current fiscal year.

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.