Sleep Number Co. (NASDAQ:SNBR) Holdings Trimmed by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lowered its position in shares of Sleep Number Co. (NASDAQ:SNBR) by 20.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,474 shares of the company’s stock after selling 1,966 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Sleep Number were worth $821,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SNBR. Los Angeles Capital Management LLC raised its holdings in shares of Sleep Number by 2.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 7,401 shares of the company’s stock worth $814,000 after purchasing an additional 170 shares in the last quarter. BancorpSouth Bank grew its position in Sleep Number by 2.3% during the first quarter. BancorpSouth Bank now owns 8,096 shares of the company’s stock valued at $1,162,000 after purchasing an additional 184 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Sleep Number by 17.6% during the second quarter. Teacher Retirement System of Texas now owns 3,631 shares of the company’s stock valued at $399,000 after purchasing an additional 543 shares during the last quarter. Schmidt P J Investment Management Inc. boosted its position in Sleep Number by 11.7% during the second quarter. Schmidt P J Investment Management Inc. now owns 5,360 shares of the company’s stock valued at $502,000 after purchasing an additional 560 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Sleep Number during the first quarter valued at approximately $81,000. 95.81% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Sleep Number from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Tuesday, July 20th. TheStreet cut Sleep Number from a “c+” rating to a “d-” rating in a research report on Tuesday, July 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $135.00 target price (down previously from $165.00) on shares of Sleep Number in a research report on Wednesday, July 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Sleep Number has a consensus rating of “Hold” and an average price target of $121.80.

NASDAQ SNBR opened at $93.83 on Wednesday. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 0.94 and a beta of 1.93. The company’s fifty day moving average is $98.70 and its two-hundred day moving average is $112.64. Sleep Number Co. has a 52-week low of $45.66 and a 52-week high of $151.44.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Monday, July 19th. The company reported $0.88 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.29). Sleep Number had a negative return on equity of 75.84% and a net margin of 9.37%. The firm had revenue of $484.32 million during the quarter, compared to the consensus estimate of $506.25 million. During the same quarter in the prior year, the business posted ($0.45) EPS. Sleep Number’s revenue was up 70.0% compared to the same quarter last year. Sell-side analysts forecast that Sleep Number Co. will post 7.28 earnings per share for the current year.

Sleep Number Company Profile

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.

Further Reading: Average Daily Trade Volume Explained

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

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