Sleep Number Co. (NASDAQ:SNBR – Get Rating)'s share price traded down 5.7% on Thursday . The stock traded as low as $36.65 and last traded at $36.71. 252,392 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 396,532 shares. The stock had previously closed at $38.93.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group increased their price objective on Sleep Number from $31.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, February 23rd. Wedbush increased their price objective on Sleep Number from $27.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, February 23rd. Finally, Piper Sandler increased their price objective on Sleep Number from $26.00 to $35.00 and gave the company a "neutral" rating in a research note on Thursday, February 2nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat.com, Sleep Number currently has an average rating of "Hold" and an average price target of $37.75.

Sleep Number Price Performance

The company has a 50-day moving average of $32.53 and a two-hundred day moving average of $34.06. The stock has a market capitalization of $800.28 million, a PE ratio of 22.68, a P/E/G ratio of 1.23 and a beta of 1.86.

Sleep Number (NASDAQ:SNBR – Get Rating) last released its earnings results on Wednesday, February 22nd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Sleep Number had a negative return on equity of 8.19% and a net margin of 1.73%. The business had revenue of $497.53 million for the quarter, compared to analysts' expectations of $495.75 million. During the same quarter last year, the company posted $0.47 earnings per share. The business's quarterly revenue was up 1.1% compared to the same quarter last year. On average, research analysts forecast that Sleep Number Co. will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Brenda J. Lauderback sold 6,107 shares of the firm's stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $37.01, for a total value of $226,020.07. Following the transaction, the director now directly owns 34,966 shares in the company, valued at approximately $1,294,091.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sleep Number

A number of large investors have recently modified their holdings of the company. DDFG Inc purchased a new position in shares of Sleep Number in the 4th quarter worth about $330,000. Voya Investment Management LLC raised its holdings in shares of Sleep Number by 8.8% in the 4th quarter. Voya Investment Management LLC now owns 12,486 shares of the company's stock worth $324,000 after purchasing an additional 1,005 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Sleep Number by 272.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,262 shares of the company's stock worth $241,000 after purchasing an additional 6,777 shares during the period. Chimera Capital Management LLC raised its holdings in shares of Sleep Number by 139.3% in the 4th quarter. Chimera Capital Management LLC now owns 62,684 shares of the company's stock worth $1,629,000 after purchasing an additional 36,491 shares during the period. Finally, State of Wisconsin Investment Board raised its holdings in shares of Sleep Number by 44.2% during the 4th quarter. State of Wisconsin Investment Board now owns 30,638 shares of the company's stock valued at $796,000 after buying an additional 9,394 shares during the period.

Sleep Number Company Profile

(Get Rating)

Sleep Number Corp. designs, manufactures, markets, and distributes beds, proprietary beds, and other sleep-related accessory products. It offers beds under the brand name Sleep Number. The company was founded by Robert Walker and JoAnn Walker in 1987 and is headquartered in Minneapolis, MN.

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