Rice Hall James & Associates LLC Reduces Position in Sleep Number Co. (NASDAQ:SNBR)

Rice Hall James & Associates LLC decreased its stake in shares of Sleep Number Co. (NASDAQ:SNBR) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,254 shares of the company’s stock after selling 10,215 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Sleep Number were worth $2,701,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SNBR. GAMMA Investing LLC increased its stake in 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 purchasing an additional 1,664 shares in the last quarter. SG Americas Securities LLC acquired a new position in Sleep Number during the 3rd quarter valued at approximately $210,000. PDT Partners LLC acquired a new position in Sleep Number during the 3rd quarter valued at approximately $241,000. Y Intercept Hong Kong Ltd acquired a new position in Sleep Number during the 3rd quarter valued at approximately $296,000. Finally, FMR LLC increased its stake in Sleep Number by 1,764.3% during the 3rd quarter. FMR LLC now owns 21,216 shares of the company’s stock valued at $389,000 after purchasing an additional 20,078 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

Wall Street Analysts Forecast Growth

SNBR has been the topic of several recent research reports. StockNews.com raised shares of Sleep Number from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Piper Sandler dropped their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

Sleep Number Stock Performance

Shares of NASDAQ SNBR opened at $18.14 on Wednesday. The company’s fifty day moving average price is $16.99 and its 200 day moving average price is $15.61. Sleep Number Co. has a 1 year low of $8.13 and a 1 year high of $20.75. The company has a market capitalization of $405.79 million, a PE ratio of -10.02 and a beta of 2.09.

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.