Jean Michel Valette Sells 25,000 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) Director Jean Michel Valette sold 25,000 shares of Sleep Number stock in a transaction on Monday, April 5th. The stock was sold at an average price of $137.70, for a total transaction of $3,442,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of NASDAQ SNBR opened at $130.00 on Thursday. The company’s fifty day moving average is $136.20 and its 200-day moving average is $92.51. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 36.93, a P/E/G ratio of 1.09 and a beta of 2.07. Sleep Number Co. has a twelve month low of $20.61 and a twelve month high of $151.44.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings results on Tuesday, February 16th. The company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.66. The company had revenue of $567.90 million for the quarter, compared to analysts’ expectations of $558.55 million. Sleep Number had a net margin of 5.89% and a negative return on equity of 70.15%. As a group, analysts forecast that Sleep Number Co. will post 4.11 EPS for the current fiscal year.

SNBR has been the subject of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating on shares of Sleep Number in a report on Tuesday, January 26th. Bank of America lowered shares of Sleep Number from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $73.00 to $88.00 in a report on Thursday, February 4th. Wedbush lifted their target price on shares of Sleep Number from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, February 18th. UBS Group raised shares of Sleep Number from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $65.00 to $135.00 in a report on Thursday, February 18th. Finally, Piper Sandler lifted their target price on shares of Sleep Number from $108.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $112.20.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank boosted its position in shares of Sleep Number by 0.5% during the fourth quarter. Comerica Bank now owns 29,118 shares of the company’s stock worth $2,898,000 after purchasing an additional 139 shares in the last quarter. California State Teachers Retirement System lifted its position in Sleep Number by 0.4% in the 3rd quarter. California State Teachers Retirement System now owns 40,973 shares of the company’s stock valued at $2,004,000 after acquiring an additional 143 shares in the last quarter. Aperio Group LLC lifted its position in Sleep Number by 3.3% in the 4th quarter. Aperio Group LLC now owns 9,231 shares of the company’s stock valued at $756,000 after acquiring an additional 298 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Sleep Number by 3.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,605 shares of the company’s stock valued at $786,000 after acquiring an additional 350 shares in the last quarter. Finally, US Bancorp DE lifted its position in Sleep Number by 0.6% in the 4th quarter. US Bancorp DE now owns 61,001 shares of the company’s stock valued at $4,994,000 after acquiring an additional 379 shares in the last quarter. 94.32% of the stock is currently owned by institutional investors.

About Sleep Number

Sleep Number Corporation, together with its subsidiaries, provides 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 offers adjustable bases under the FlextFit name; temperature-balancing products, including DualTemp layer; SleepIQ Kids k2 beds for kids; and smart beds under the Sleep Number 360 and 360 names.

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