Sleep Number Co. (NASDAQ:SNBR) Shares Sold by Blue Grotto Capital LLC

Blue Grotto Capital LLC lessened its holdings in shares of Sleep Number Co. (NASDAQ:SNBR) by 18.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 289,425 shares of the company’s stock after selling 63,384 shares during the period. Sleep Number accounts for approximately 0.8% of Blue Grotto Capital LLC’s investment portfolio, making the stock its 27th biggest position. Blue Grotto Capital LLC’s holdings in Sleep Number were worth $4,411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNBR. GAMMA Investing LLC raised its position in shares of Sleep Number by 28.8% during the 4th quarter. GAMMA Investing LLC now owns 7,443 shares of the company’s stock valued at $113,000 after buying an additional 1,664 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Sleep Number in the fourth quarter worth $183,000. Olympiad Research LP acquired a new stake in Sleep Number in the 4th quarter valued at about $221,000. PDT Partners LLC acquired a new position in Sleep Number during the 3rd quarter worth approximately $241,000. Finally, Semanteon Capital Management LP acquired a new stake in Sleep Number in the fourth quarter valued at $245,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number Stock Down 8.6 %

SNBR opened at $6.30 on Wednesday. Sleep Number Co. has a 52 week low of $6.00 and a 52 week high of $20.75. The firm has a market cap of $141.05 million, a P/E ratio of -3.48 and a beta of 2.14. The business’s fifty day simple moving average is $13.82 and its 200 day simple moving average is $15.07.

Insider Activity

In other news, insider Gary T. Fazio purchased 12,000 shares of the stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $7.54 per share, with a total value of $90,480.00. Following the completion of the transaction, the insider now owns 71,125 shares in the company, valued at approximately $536,282.50. The trade was a 20.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

SNBR has been the topic of a number of recent analyst reports. Piper Sandler dropped their target price on shares of Sleep Number from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. StockNews.com raised shares of Sleep Number from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Finally, Wedbush cut their price target on shares of Sleep Number from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 6th.

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.