ExodusPoint Capital Management LP Takes Position in Sleep Number Co. (NASDAQ:SNBR)

ExodusPoint Capital Management LP acquired a new stake in Sleep Number Co. (NASDAQ:SNBR) in the fourth quarter, Holdings Channel reports. The firm acquired 21,026 shares of the company’s stock, valued at approximately $320,000.

Other large investors have also bought and sold shares of the company. Diametric Capital LP acquired a new stake in shares of Sleep Number in the fourth quarter valued at about $160,000. Summit Securities Group LLC bought a new stake in Sleep Number in the fourth quarter valued at approximately $33,000. Arrowstreet Capital Limited Partnership increased its position in Sleep Number by 18.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 385,599 shares of the company’s stock valued at $5,877,000 after purchasing an additional 60,410 shares during the period. Pacific Ridge Capital Partners LLC raised its holdings in Sleep Number by 11.1% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 442,412 shares of the company’s stock worth $6,742,000 after purchasing an additional 44,170 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Sleep Number by 98.0% in the 4th quarter. JPMorgan Chase & Co. now owns 226,144 shares of the company’s stock worth $3,446,000 after purchasing an additional 111,915 shares during the period. 85.67% of the stock is owned by institutional investors.

Insider Activity at Sleep Number

In other news, insider Gary T. Fazio acquired 12,000 shares of Sleep Number 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 purchase, the insider now owns 71,125 shares of the company’s stock, valued at approximately $536,282.50. The trade was a 20.30 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is currently owned by corporate insiders.

Sleep Number Trading Down 7.1 %

NASDAQ:SNBR opened at $4.99 on Monday. The firm has a fifty day simple moving average of $10.26 and a two-hundred day simple moving average of $13.91. Sleep Number Co. has a 12 month low of $4.48 and a 12 month high of $20.75. The stock has a market capitalization of $111.72 million, a price-to-earnings ratio of -2.76 and a beta of 2.07.

Wall Street Analyst Weigh In

SNBR has been the subject of a number of analyst reports. StockNews.com raised shares of Sleep Number from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Piper Sandler lowered their price objective on Sleep Number from $11.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Wedbush cut their target price on Sleep Number from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th.

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.