Jacobs Levy Equity Management Inc. Sells 95,029 Shares of Sleep Number Co. (NASDAQ:SNBR)

Jacobs Levy Equity Management Inc. trimmed its stake in shares of Sleep Number Co. (NASDAQ:SNBR) by 15.0% in the third quarter, HoldingsChannel reports. The firm owned 539,701 shares of the company’s stock after selling 95,029 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Sleep Number were worth $9,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of SNBR. Acadian Asset Management LLC grew its position in shares of Sleep Number by 135.3% during the 2nd quarter. Acadian Asset Management LLC now owns 235,305 shares of the company’s stock worth $2,249,000 after purchasing an additional 135,284 shares in the last quarter. Pacific Ridge Capital Partners LLC bought a new stake in shares of Sleep Number in the second quarter worth $3,342,000. NBC Securities Inc. raised its position in shares of Sleep Number by 5,000.0% during the third quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock worth $934,000 after acquiring an additional 50,000 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Sleep Number during the 2nd quarter valued at about $899,000. Finally, Hodges Capital Management Inc. increased its stake in shares of Sleep Number by 138.5% in the 2nd quarter. Hodges Capital Management Inc. now owns 409,915 shares of the company’s stock valued at $3,923,000 after acquiring an additional 238,015 shares in the last quarter. 85.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNBR has been the topic of a number of recent research reports. Piper Sandler cut their target price on Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. StockNews.com raised Sleep Number from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th.

Sleep Number Stock Up 9.5 %

Sleep Number stock opened at $18.57 on Friday. The business has a 50-day simple moving average of $14.86 and a 200 day simple moving average of $13.62. The stock has a market cap of $415.41 million, a price-to-earnings ratio of -10.26 and a beta of 2.08. Sleep Number Co. has a 52 week low of $8.13 and a 52 week high of $20.75.

Insider Buying and Selling at Sleep Number

In related news, major shareholder Stadium Capital Management Llc acquired 59,011 shares of Sleep Number stock in a transaction dated Thursday, October 31st. The shares were purchased at an average cost of $13.83 per share, with a total value of $816,122.13. Following the completion of the purchase, the insider now owns 1,920,000 shares of the company’s stock, valued at $26,553,600. This represents a 3.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 169,373 shares of company stock worth $2,305,052 over the last three months. 6.80% of the stock is owned by insiders.

Sleep Number Profile

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.