Susquehanna Portfolio Strategies LLC Reduces Position in Sleep Number Co. (NASDAQ:SNBR)

Susquehanna Portfolio Strategies LLC reduced its position in Sleep Number Co. (NASDAQ:SNBR) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,775 shares of the company’s stock after selling 7,500 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Sleep Number were worth $505,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Sleep Number by 250.6% during the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock valued at $68,000 after buying an additional 3,027 shares during the last quarter. XTX Topco Ltd purchased a new position in Sleep Number during the 2nd quarter valued at $128,000. State Board of Administration of Florida Retirement System bought a new position in Sleep Number in the 1st quarter valued at $149,000. Susquehanna Fundamental Investments LLC increased its stake in Sleep Number by 6.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after purchasing an additional 1,100 shares during the period. Finally, Maverick Capital Ltd. increased its stake in Sleep Number by 17.4% in the second quarter. Maverick Capital Ltd. now owns 20,136 shares of the company’s stock worth $193,000 after purchasing an additional 2,980 shares during the period. Institutional investors own 85.67% of the company’s stock.

Insider Transactions at Sleep Number

In other Sleep Number news, Director Stephen E. Macadam acquired 43,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $12.35 per share, with a total value of $531,050.00. Following the completion of the acquisition, the director now directly owns 102,729 shares in the company, valued at approximately $1,268,703.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.80% of the company’s stock.

Sleep Number Trading Up 5.3 %

Shares of SNBR stock opened at $17.75 on Friday. Sleep Number Co. has a twelve month low of $8.13 and a twelve month high of $25.05. The stock has a fifty day simple moving average of $14.06 and a two-hundred day simple moving average of $13.44. The stock has a market capitalization of $396.29 million, a price-to-earnings ratio of -11.68 and a beta of 2.05.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.22. The business had revenue of $408.40 million during the quarter, compared to analysts’ expectations of $415.05 million. The firm’s revenue was down 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Research analysts predict that Sleep Number Co. will post -0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNBR. StockNews.com cut shares of Sleep Number from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Piper Sandler upped their target price on shares of Sleep Number from $12.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th.

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.