GSA Capital Partners LLP Sells 45,071 Shares of Sleep Number Co. (NASDAQ:SNBR)

GSA Capital Partners LLP lowered its position in Sleep Number Co. (NASDAQ:SNBR - Free Report) by 27.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,458 shares of the company's stock after selling 45,071 shares during the period. GSA Capital Partners LLP owned about 0.53% of Sleep Number worth $2,188,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC bought a new stake in Sleep Number during the 2nd quarter worth approximately $3,342,000. Millennium Management LLC boosted its stake in Sleep Number by 326.7% in the 2nd quarter. Millennium Management LLC now owns 370,987 shares of the company's stock worth $3,550,000 after purchasing an additional 284,052 shares during the period. Hodges Capital Management Inc. raised its stake in shares of Sleep Number by 138.5% in the 2nd quarter. Hodges Capital Management Inc. now owns 409,915 shares of the company's stock valued at $3,923,000 after purchasing an additional 238,015 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Sleep Number by 135.3% in the second quarter. Acadian Asset Management LLC now owns 235,305 shares of the company's stock valued at $2,249,000 after purchasing an additional 135,284 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in shares of Sleep Number during the second quarter worth about $899,000. Institutional investors and hedge funds own 85.67% of the company's stock.

Insider Activity

In other Sleep Number news, major shareholder Stadium Capital Management Llc purchased 59,011 shares of Sleep Number stock in a transaction that occurred on Thursday, October 31st. The stock was acquired at an average price of $13.83 per share, for a total transaction of $816,122.13. Following the completion of the acquisition, the insider now owns 1,920,000 shares of the company's stock, valued at approximately $26,553,600. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have bought 95,508 shares of company stock valued at $1,294,316. 6.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SNBR shares. StockNews.com downgraded Sleep Number from a "buy" rating to a "hold" rating in a research report on Monday. Piper Sandler reduced their target price on shares of Sleep Number from $16.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, October 31st.

Sleep Number Stock Performance

SNBR traded down $0.25 during trading on Tuesday, reaching $14.61. 52,539 shares of the stock were exchanged, compared to its average volume of 510,764. The stock's 50 day moving average price is $15.62 and its two-hundred day moving average price is $13.65. Sleep Number Co. has a twelve month low of $8.13 and a twelve month high of $20.75. The stock has a market cap of $326.83 million, a P/E ratio of -8.21 and a beta of 2.08.

Sleep Number Company 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.