JPMorgan Chase & Co. Purchases 111,915 Shares of Sleep Number Co. (NASDAQ:SNBR)

JPMorgan Chase & Co. raised its position in Sleep Number Co. (NASDAQ:SNBR - Free Report) by 98.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,144 shares of the company's stock after acquiring an additional 111,915 shares during the quarter. JPMorgan Chase & Co. owned 1.01% of Sleep Number worth $3,446,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Wealthfront Advisers LLC bought a new position in Sleep Number during the fourth quarter worth $14,861,000. Hodges Capital Management Inc. boosted its holdings in shares of Sleep Number by 22.7% in the 4th quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company's stock valued at $18,905,000 after buying an additional 229,587 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Sleep Number during the 4th quarter valued at about $183,000. Barclays PLC raised its stake in Sleep Number by 276.5% during the third quarter. Barclays PLC now owns 28,280 shares of the company's stock worth $518,000 after acquiring an additional 20,769 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Sleep Number by 3.6% in the third quarter. Geode Capital Management LLC now owns 518,045 shares of the company's stock valued at $9,493,000 after acquiring an additional 18,182 shares during the period. 85.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sleep Number

In other news, insider Gary T. Fazio bought 12,000 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $7.54 per share, with a total value of $90,480.00. Following the acquisition, the insider now 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 is available through this link. 6.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SNBR shares. Piper Sandler lowered their price objective on Sleep Number from $11.00 to $6.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wedbush reduced their price objective on Sleep Number from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Sleep Number from a "hold" rating to a "buy" rating in a research note on Thursday, January 9th.

Sleep Number Trading Up 6.2 %

SNBR stock traded up $0.41 during midday trading on Friday, reaching $6.98. The company had a trading volume of 413,513 shares, compared to its average volume of 499,057. The company has a 50 day moving average of $8.14 and a two-hundred day moving average of $13.21. Sleep Number Co. has a 1 year low of $4.48 and a 1 year high of $20.75. The company has a market capitalization of $158.05 million, a P/E ratio of -3.82 and a beta of 2.07.

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.