Sleep Number Co. (NASDAQ:SNBR) Shares Purchased by Maverick Capital Ltd.

Maverick Capital Ltd. boosted its stake in shares of Sleep Number Co. (NASDAQ:SNBR) by 17.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,136 shares of the company’s stock after purchasing an additional 2,980 shares during the period. Maverick Capital Ltd.’s holdings in Sleep Number were worth $193,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Dark Forest Capital Management LP lifted its stake in shares of Sleep Number by 19.4% during the second quarter. Dark Forest Capital Management LP now owns 30,098 shares of the company’s stock worth $288,000 after buying an additional 4,894 shares during the period. AQR Capital Management LLC grew its stake in Sleep Number by 166.1% during the 2nd quarter. AQR Capital Management LLC now owns 107,905 shares of the company’s stock valued at $1,033,000 after purchasing an additional 67,354 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Sleep Number by 240.1% in the second quarter. Squarepoint Ops LLC now owns 123,493 shares of the company’s stock valued at $1,182,000 after purchasing an additional 87,184 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of Sleep Number by 32.7% in the second quarter. Cubist Systematic Strategies LLC now owns 82,248 shares of the company’s stock worth $787,000 after purchasing an additional 20,246 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Sleep Number during the second quarter worth about $128,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number Trading Up 5.3 %

Shares of NASDAQ:SNBR opened at $17.75 on Friday. Sleep Number Co. has a 12-month low of $8.13 and a 12-month high of $25.05. The business has a 50 day moving average of $14.06 and a two-hundred day moving average of $13.44. The company has a market capitalization of $396.29 million, a PE ratio of -11.68 and a beta of 2.05.

Sleep Number (NASDAQ:SNBR) last posted 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 firm had revenue of $408.40 million during the quarter, compared to analyst estimates of $415.05 million. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Equities research analysts predict that Sleep Number Co. will post -0.13 earnings per share for the current fiscal year.

Insider Transactions at Sleep Number

In other Sleep Number news, Director Stephen E. Macadam purchased 43,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $12.35 per share, for a total transaction of $531,050.00. Following the purchase, the director now directly owns 102,729 shares in the company, valued at $1,268,703.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNBR. Piper Sandler increased their price target on shares of Sleep Number from $12.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. StockNews.com cut shares of Sleep Number from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

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.