Rice Hall James & Associates LLC Has $3.43 Million Stock Position in Sleep Number Co. (NASDAQ:SNBR)

Rice Hall James & Associates LLC lifted its position in Sleep Number Co. (NASDAQ:SNBR) by 3.9% in the 3rd quarter, Holdings Channel reports. The fund owned 187,469 shares of the company’s stock after buying an additional 7,080 shares during the period. Rice Hall James & Associates LLC’s holdings in Sleep Number were worth $3,434,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SNBR. Tectonic Advisors LLC boosted its position in shares of Sleep Number by 77.6% in the third quarter. Tectonic Advisors LLC now owns 76,080 shares of the company’s stock worth $1,394,000 after buying an additional 33,250 shares during the period. NBC Securities Inc. grew its stake in Sleep Number by 5,000.0% during the 3rd quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock valued at $934,000 after acquiring an additional 50,000 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Sleep Number in the 3rd quarter valued at about $419,000. GAMMA Investing LLC increased its holdings in shares of Sleep Number by 15.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after purchasing an additional 784 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Sleep Number in the third quarter worth approximately $210,000. 85.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Stephen E. Macadam purchased 43,000 shares of Sleep Number stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $12.35 per share, with a total value of $531,050.00. Following the completion of the transaction, the director now directly owns 102,729 shares of the company’s stock, valued at approximately $1,268,703.15. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on SNBR. Piper Sandler lowered their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday. StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a report on Friday.

Sleep Number Stock Performance

NASDAQ:SNBR opened at $12.71 on Friday. The company has a market capitalization of $284.13 million, a P/E ratio of -7.02 and a beta of 2.06. The stock’s 50 day moving average price is $15.65 and its 200 day moving average price is $13.61. Sleep Number Co. has a 52 week low of $8.13 and a 52 week high of $20.75.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.22. The business had revenue of $408.40 million for the quarter, compared to the consensus estimate of $415.05 million. During the same quarter in the prior year, the business posted $0.03 EPS. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Sleep Number Co. will post -0.13 earnings per share for the current fiscal year.

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.