Arizona State Retirement System Lowers Stake in Sleep Number Corp (SNBR)

Arizona State Retirement System reduced its stake in shares of Sleep Number Corp (NASDAQ:SNBR) by 8.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,084 shares of the company’s stock after selling 4,068 shares during the period. Arizona State Retirement System owned approximately 0.16% of Sleep Number worth $2,213,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Sleep Number by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,755,694 shares of the company’s stock worth $55,709,000 after buying an additional 6,014 shares during the period. Rothschild & Co. Asset Management US Inc. lifted its stake in shares of Sleep Number by 1.5% during the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 923,421 shares of the company’s stock worth $29,300,000 after buying an additional 13,839 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of Sleep Number by 53.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 739,871 shares of the company’s stock worth $23,477,000 after buying an additional 259,177 shares during the period. Norges Bank acquired a new position in Sleep Number during the fourth quarter valued at $16,774,000. Finally, Geode Capital Management LLC lifted its position in Sleep Number by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 416,283 shares of the company’s stock valued at $13,207,000 after purchasing an additional 4,251 shares during the period.

A number of research analysts recently issued reports on SNBR shares. Barclays started coverage on shares of Sleep Number in a research report on Monday, January 28th. They set an “equal weight” rating and a $36.00 target price for the company. SunTrust Banks boosted their target price on shares of Sleep Number to $35.00 and gave the company a “hold” rating in a research report on Thursday, February 14th. Piper Jaffray Companies boosted their target price on shares of Sleep Number to $43.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. They noted that the move was a valuation call. ValuEngine upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Finally, BidaskClub upgraded shares of Sleep Number from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 6th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Sleep Number presently has an average rating of “Hold” and an average target price of $42.80.

In other Sleep Number news, EVP Andrew P. Carlin sold 34,190 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $42.42, for a total value of $1,450,339.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Kevin Kennedy Brown sold 3,500 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $43.41, for a total transaction of $151,935.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,764 shares of company stock valued at $6,850,756. Insiders own 5.60% of the company’s stock.

NASDAQ SNBR opened at $34.96 on Friday. The firm has a market cap of $1.06 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.02 and a beta of 1.14. Sleep Number Corp has a 1 year low of $26.22 and a 1 year high of $49.56.

Sleep Number (NASDAQ:SNBR) last posted its earnings results on Wednesday, April 17th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $426.45 million during the quarter, compared to the consensus estimate of $427.53 million. Sleep Number had a net margin of 4.74% and a negative return on equity of 92.30%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. Equities analysts anticipate that Sleep Number Corp will post 2.45 EPS for the current fiscal year.

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About Sleep Number

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

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Institutional Ownership by Quarter for Sleep Number (NASDAQ:SNBR)

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