Arrowstreet Capital Limited Partnership Purchases 60,410 Shares of Sleep Number Co. (NASDAQ:SNBR)

Arrowstreet Capital Limited Partnership grew its stake in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 18.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 385,599 shares of the company's stock after buying an additional 60,410 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.72% of Sleep Number worth $5,877,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SNBR. Wealthfront Advisers LLC bought a new position in Sleep Number in the fourth quarter worth $14,861,000. Hodges Capital Management Inc. lifted its holdings in shares of Sleep Number by 22.7% during the 4th quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company's stock worth $18,905,000 after acquiring an additional 229,587 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Sleep Number during the 4th quarter valued at about $183,000. JPMorgan Chase & Co. boosted its position in shares of Sleep Number by 1,071.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 114,229 shares of the company's stock valued at $2,093,000 after acquiring an additional 104,482 shares in the last quarter. Finally, Barclays PLC increased its stake in Sleep Number by 276.5% in the third quarter. Barclays PLC now owns 28,280 shares of the company's stock valued at $518,000 after acquiring an additional 20,769 shares during the period. Institutional investors and hedge funds own 85.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SNBR shares. Piper Sandler decreased their price objective on Sleep Number from $11.00 to $6.00 and set a "neutral" rating on the stock in a report on Friday. StockNews.com raised Sleep Number from a "hold" rating to a "buy" rating in a research note on Thursday, January 9th. Finally, Wedbush dropped their price objective on Sleep Number from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th.

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Sleep Number Stock Performance

Sleep Number stock traded down $0.38 during trading hours on Friday, hitting $4.99. 551,230 shares of the stock were exchanged, compared to its average volume of 500,161. Sleep Number Co. has a 12 month low of $4.48 and a 12 month high of $20.75. The business's 50-day moving average is $10.26 and its two-hundred day moving average is $13.93. The stock has a market capitalization of $111.72 million, a P/E ratio of -2.76 and a beta of 2.07.

Insider Buying and Selling

In related news, insider Gary T. Fazio acquired 12,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $7.54 per share, with a total value of $90,480.00. Following the acquisition, the insider now directly owns 71,125 shares in the company, valued at $536,282.50. The trade was a 20.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 6.80% of the stock is owned by corporate insiders.

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.