Tectonic Advisors LLC Reduces Stake in Sleep Number Co. (NASDAQ:SNBR)

Tectonic Advisors LLC lessened its position in shares of Sleep Number Co. (NASDAQ:SNBR) by 10.1% in the fourth quarter, Holdings Channel reports. The fund owned 68,394 shares of the company’s stock after selling 7,686 shares during the quarter. Tectonic Advisors LLC’s holdings in Sleep Number were worth $1,042,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Hodges Capital Management Inc. grew its stake in shares of Sleep Number by 146.6% during the 3rd quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock valued at $18,520,000 after purchasing an additional 601,005 shares during the period. Millennium Management LLC increased its holdings in Sleep Number by 326.7% during the second quarter. Millennium Management LLC now owns 370,987 shares of the company’s stock valued at $3,550,000 after buying an additional 284,052 shares during the last quarter. Stadium Capital Management LLC raised its position in Sleep Number by 8.8% in the third quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock worth $36,793,000 after acquiring an additional 162,164 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sleep Number by 1,071.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 114,229 shares of the company’s stock worth $2,093,000 after acquiring an additional 104,482 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Sleep Number by 166.1% during the 2nd quarter. AQR Capital Management LLC now owns 107,905 shares of the company’s stock valued at $1,033,000 after acquiring an additional 67,354 shares during the period. Institutional investors own 85.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com raised Sleep Number from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Piper Sandler decreased their price objective on Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st.

Insider Buying and Selling at Sleep Number

In other news, major shareholder Stadium Capital Management Llc bought 11,540 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $12.71 per share, for a total transaction of $146,673.40. Following the completion of the transaction, the insider now owns 2,200,000 shares of the company’s stock, valued at approximately $27,962,000. This represents a 0.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased a total of 73,865 shares of company stock valued at $1,010,736 in the last three months. 6.80% of the stock is currently owned by corporate insiders.

Sleep Number Stock Up 3.3 %

NASDAQ SNBR opened at $18.00 on Thursday. The business has a 50-day moving average price of $16.97 and a 200-day moving average price of $15.23. The firm has a market cap of $402.66 million, a price-to-earnings ratio of -9.94 and a beta of 2.08. Sleep Number Co. has a twelve month low of $8.13 and a twelve month high of $20.75.

About Sleep Number

Sleep Number Corporation, together with its subsidiaries, offers 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 provides smart adjustable bases under the FlextFit brand, and smart beds under the Climate 360 name.