Bank of New York Mellon Corp cut its position in Sleep Number Corp (NASDAQ:SNBR) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 322,777 shares of the company’s stock after selling 2,765 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sleep Number were worth $13,440,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Alliancebernstein L.P. grew its stake in Sleep Number by 11.6% in the 1st quarter. Alliancebernstein L.P. now owns 1,623,407 shares of the company’s stock valued at $31,104,000 after buying an additional 169,240 shares during the last quarter. LSV Asset Management grew its stake in Sleep Number by 11.6% in the 2nd quarter. LSV Asset Management now owns 1,292,824 shares of the company’s stock valued at $53,833,000 after buying an additional 134,124 shares during the last quarter. State Street Corp grew its stake in Sleep Number by 3.1% in the 1st quarter. State Street Corp now owns 858,176 shares of the company’s stock valued at $16,443,000 after buying an additional 26,149 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Sleep Number by 1.1% in the 1st quarter. Nuveen Asset Management LLC now owns 485,956 shares of the company’s stock valued at $9,311,000 after buying an additional 5,119 shares during the last quarter. Finally, Morgan Stanley grew its stake in Sleep Number by 3.7% in the 1st quarter. Morgan Stanley now owns 460,999 shares of the company’s stock valued at $8,832,000 after buying an additional 16,301 shares during the last quarter. Institutional investors and hedge funds own 96.69% of the company’s stock.

In other news, CEO Shelly Radue Ibach sold 11,169 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $53.70, for a total transaction of $599,775.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 43,463 shares of company stock valued at $2,291,081 over the last ninety days. 6.00% of the stock is owned by insiders.

A number of research analysts recently issued reports on SNBR shares. BidaskClub lowered shares of Sleep Number from a “buy” rating to a “hold” rating in a research note on Wednesday, August 26th. TheStreet lowered shares of Sleep Number from a “b-” rating to a “c+” rating in a research report on Tuesday, September 8th. Piper Sandler raised their price target on shares of Sleep Number from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Raymond James restated a “hold” rating on shares of Sleep Number in a research report on Thursday, July 16th. Finally, Wedbush raised their price target on shares of Sleep Number from $30.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $46.71.

NASDAQ:SNBR opened at $50.13 on Wednesday. The company has a 50-day moving average of $46.47 and a 200-day moving average of $37.78. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.60 and a beta of 2.22. Sleep Number Corp has a 52 week low of $15.27 and a 52 week high of $61.00.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings data on Wednesday, July 15th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.22. The company had revenue of $284.94 million during the quarter, compared to the consensus estimate of $233.80 million. Sleep Number had a net margin of 4.70% and a negative return on equity of 48.94%. The firm’s revenue for the quarter was down 20.0% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. As a group, equities research analysts predict that Sleep Number Corp will post 2.77 earnings per share for the current fiscal year.

Sleep Number Profile

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

Read More: Understanding dividend yield and dividend payout ratio

Want to see what other hedge funds are holding SNBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sleep Number Corp (NASDAQ:SNBR).

Institutional Ownership by Quarter for Sleep Number (NASDAQ:SNBR)

Receive News & Ratings for Sleep Number Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sleep Number and related companies with MarketBeat.com's FREE daily email newsletter.