Charles Schwab Investment Management Inc. Cuts Stake in Sleep Number Co. (NASDAQ:SNBR)

Charles Schwab Investment Management Inc. reduced its position in Sleep Number Co. (NASDAQ:SNBR - Free Report) by 34.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,966 shares of the company's stock after selling 204,846 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.75% of Sleep Number worth $5,958,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SNBR. Hodges Capital Management Inc. raised its position in Sleep Number by 146.6% in the 3rd quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company's stock valued at $18,520,000 after buying an additional 601,005 shares during the last quarter. Stadium Capital Management LLC lifted its position in shares of Sleep Number by 8.8% during the third quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company's stock valued at $36,793,000 after purchasing an additional 162,164 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Sleep Number by 1,071.9% during the third quarter. JPMorgan Chase & Co. now owns 114,229 shares of the company's stock worth $2,093,000 after purchasing an additional 104,482 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in Sleep Number by 150.7% during the third quarter. Maverick Capital Ltd. now owns 50,477 shares of the company's stock worth $925,000 after purchasing an additional 30,341 shares during the last quarter. Finally, RBF Capital LLC bought a new stake in Sleep Number in the 3rd quarter worth about $458,000. Institutional investors and hedge funds own 85.67% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SNBR shares. StockNews.com upgraded Sleep Number from a "hold" rating to a "buy" rating in a research note on Thursday, January 9th. Piper Sandler decreased their target price on Sleep Number from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Finally, Wedbush lowered their target price on Sleep Number from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th.

Insider Buying and Selling

In other Sleep Number news, insider Gary T. Fazio purchased 12,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $7.54 per share, for a total transaction of $90,480.00. Following the purchase, the insider now owns 71,125 shares of the company's stock, valued at $536,282.50. This represents a 20.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is currently owned by insiders.

Sleep Number Stock Performance

NASDAQ:SNBR traded down $0.29 during trading hours on Friday, reaching $6.44. The stock had a trading volume of 549,618 shares, compared to its average volume of 479,067. The stock has a market cap of $144.19 million, a P/E ratio of -3.56 and a beta of 2.14. The stock has a 50 day simple moving average of $13.42 and a 200 day simple moving average of $14.95. Sleep Number Co. has a 12-month low of $6.00 and a 12-month high of $20.75.

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.