Sleep Number Co. (NASDAQ:SNBR) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its stake in Sleep Number Co. (NASDAQ:SNBR - Free Report) by 15.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 539,701 shares of the company's stock after selling 95,029 shares during the quarter. Jacobs Levy Equity Management Inc. owned 2.41% of Sleep Number worth $9,887,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Maverick Capital Ltd. lifted its holdings in shares of Sleep Number by 150.7% in the 3rd quarter. Maverick Capital Ltd. now owns 50,477 shares of the company's stock worth $925,000 after acquiring an additional 30,341 shares during the last quarter. PDT Partners LLC purchased a new position in Sleep Number in the 3rd quarter valued at approximately $241,000. BNP Paribas Financial Markets boosted its position in Sleep Number by 32.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 90,170 shares of the company's stock valued at $1,652,000 after buying an additional 22,022 shares during the period. FMR LLC boosted its position in Sleep Number by 1,764.3% in the 3rd quarter. FMR LLC now owns 21,216 shares of the company's stock valued at $389,000 after buying an additional 20,078 shares during the period. Finally, Rice Hall James & Associates LLC boosted its position in Sleep Number by 3.9% in the 3rd quarter. Rice Hall James & Associates LLC now owns 187,469 shares of the company's stock valued at $3,434,000 after buying an additional 7,080 shares during the period. 85.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sleep Number

In other news, major shareholder Stadium Capital Management Llc acquired 59,011 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was acquired at an average cost of $13.83 per share, with a total value of $816,122.13. Following the transaction, the insider now owns 1,920,000 shares in the company, valued at approximately $26,553,600. This trade represents a 3.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 169,373 shares of company stock valued at $2,305,052. Insiders own 6.80% of the company's stock.

Sleep Number Price Performance

Shares of Sleep Number stock traded up $0.10 during trading on Friday, hitting $18.67. 500,709 shares of the stock were exchanged, compared to its average volume of 506,327. The stock has a market cap of $417.65 million, a price-to-earnings ratio of -10.26 and a beta of 2.08. The firm's 50-day moving average price is $14.86 and its 200 day moving average price is $13.62. Sleep Number Co. has a 12-month low of $8.13 and a 12-month high of $20.75.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com raised shares of Sleep Number from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Piper Sandler decreased their price target on shares of Sleep Number from $16.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st.

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.