Sleep Number Co. (NASDAQ:SNBR) Holdings Trimmed by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. lessened its stake in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 36.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,144 shares of the company's stock after selling 87,059 shares during the quarter. Landscape Capital Management L.L.C. owned 0.68% of Sleep Number worth $2,769,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Rice Hall James & Associates LLC boosted its stake in Sleep Number by 3.9% during the third quarter. Rice Hall James & Associates LLC now owns 187,469 shares of the company's stock worth $3,434,000 after buying an additional 7,080 shares during the period. Tectonic Advisors LLC grew its stake in shares of Sleep Number by 77.6% in the third quarter. Tectonic Advisors LLC now owns 76,080 shares of the company's stock worth $1,394,000 after acquiring an additional 33,250 shares in the last quarter. NBC Securities Inc. increased its position in shares of Sleep Number by 5,000.0% during the third quarter. NBC Securities Inc. now owns 51,000 shares of the company's stock worth $934,000 after acquiring an additional 50,000 shares during the period. Inspire Investing LLC acquired a new stake in shares of Sleep Number in the third quarter valued at $419,000. Finally, GAMMA Investing LLC boosted its holdings in Sleep Number by 15.7% in the third quarter. GAMMA Investing LLC now owns 5,779 shares of the company's stock valued at $106,000 after purchasing an additional 784 shares during the period. Hedge funds and other institutional investors own 85.67% of the company's stock.

Sleep Number Stock Performance

Shares of SNBR traded up $0.14 during trading hours on Friday, hitting $12.49. The stock had a trading volume of 345,916 shares, compared to its average volume of 509,222. The firm has a market cap of $279.41 million, a P/E ratio of -6.82 and a beta of 2.08. The company's fifty day simple moving average is $15.35 and its 200 day simple moving average is $13.60. Sleep Number Co. has a 12-month low of $8.13 and a 12-month high of $20.75.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SNBR shares. Piper Sandler decreased their price target on Sleep Number from $16.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. StockNews.com raised Sleep Number from a "hold" rating to a "buy" rating in a research note on Tuesday.

Insider Activity

In other news, major shareholder Stadium Capital Management Llc purchased 59,011 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The stock was acquired at an average cost of $13.83 per share, for a total transaction of $816,122.13. Following the completion of the purchase, the insider now owns 1,920,000 shares of the company's stock, valued at approximately $26,553,600. This trade represents a 3.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired 169,373 shares of company stock worth $2,305,052 over the last ninety days. Corporate 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.