Sleep Number Co. (NASDAQ:SNBR) Shares Purchased by Millennium Management LLC

Millennium Management LLC lifted its position in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 326.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 370,987 shares of the company's stock after purchasing an additional 284,052 shares during the period. Millennium Management LLC owned about 1.66% of Sleep Number worth $3,550,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in Sleep Number by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company's stock worth $68,000 after acquiring an additional 3,027 shares in the last quarter. XTX Topco Ltd acquired a new stake in Sleep Number during the 2nd quarter worth $128,000. State Board of Administration of Florida Retirement System acquired a new stake in Sleep Number during the 1st quarter worth $149,000. Maverick Capital Ltd. raised its stake in Sleep Number by 17.4% during the 2nd quarter. Maverick Capital Ltd. now owns 20,136 shares of the company's stock worth $193,000 after acquiring an additional 2,980 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Sleep Number during the 2nd quarter worth $195,000. 85.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNBR has been the topic of several research analyst reports. Piper Sandler lifted their price target on shares of Sleep Number from $12.00 to $16.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 17th. StockNews.com lowered shares of Sleep Number from a "buy" rating to a "hold" rating in a research note on Friday, August 9th.

Insider Transactions at Sleep Number

In other news, Director Stephen E. Macadam purchased 43,000 shares of the company's stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost 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 in the company, valued at $1,268,703.15. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.80% of the company's stock.

Sleep Number Stock Performance

NASDAQ SNBR traded down $0.02 during trading on Monday, reaching $14.61. The company's stock had a trading volume of 256,115 shares, compared to its average volume of 515,544. The firm has a market cap of $326.18 million, a price-to-earnings ratio of -9.61 and a beta of 2.06. Sleep Number Co. has a twelve month low of $8.13 and a twelve month high of $22.36. The business's fifty day moving average price is $15.19 and its 200-day moving average price is $13.57.

Sleep Number (NASDAQ:SNBR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.22) EPS 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. The company's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, sell-side analysts forecast that Sleep Number Co. will post -0.13 EPS for the current fiscal year.

About Sleep Number

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.