AlphaQuest LLC Raises Stock Holdings in Sleep Number Corporation $SNBR

AlphaQuest LLC grew its position in shares of Sleep Number Corporation (NASDAQ:SNBR) by 209.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 64,367 shares of the company’s stock after acquiring an additional 43,540 shares during the quarter. AlphaQuest LLC’s holdings in Sleep Number were worth $452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new stake in Sleep Number in the third quarter worth $70,000. Sei Investments Co. purchased a new position in shares of Sleep Number in the 2nd quarter worth $73,000. Inscription Capital LLC purchased a new position in shares of Sleep Number in the 3rd quarter worth $91,000. CWM LLC increased its holdings in shares of Sleep Number by 30.6% in the 2nd quarter. CWM LLC now owns 15,626 shares of the company’s stock worth $106,000 after buying an additional 3,663 shares during the last quarter. Finally, Corton Capital Inc. purchased a new stake in shares of Sleep Number during the 2nd quarter valued at about $114,000. 85.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler lifted their price target on Sleep Number from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. UBS Group decreased their price objective on Sleep Number from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sleep Number in a report on Friday, January 9th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $10.00.

Sleep Number Stock Performance

Shares of NASDAQ SNBR opened at $11.94 on Friday. The business’s 50 day moving average price is $9.14 and its 200-day moving average price is $8.05. Sleep Number Corporation has a fifty-two week low of $3.49 and a fifty-two week high of $18.67. The company has a market cap of $272.11 million, a price-to-earnings ratio of -3.50 and a beta of 1.89.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.08). The company had revenue of $342.88 million during the quarter, compared to the consensus estimate of $362.48 million. The firm’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS. Sell-side analysts predict that Sleep Number Corporation will post -0.42 earnings per share for the current year.

About Sleep Number

Sleep Number Corporation (NASDAQ: SNBR) is a Minneapolis‐based company specializing in the design, manufacture and retail of adjustable air mattresses and bedding products. The company’s flagship Sleep Number® bed features dual air chambers that allow each side of the mattress to be tailored to an individual’s preferred firmness, supported by integrated SleepIQ® technology. This proprietary monitoring system tracks biometric data such as heart rate, breathing and motion, delivering personalized sleep insights through a connected app.

Founded in 1987 as Select Comfort, the business pioneered adjustable air mattress technology and has since grown into a direct-to-consumer retailer.