State of New Jersey Common Pension Fund D Invests $2.30 Million in Sleep Number Corp (NASDAQ:SNBR)

State of New Jersey Common Pension Fund D bought a new position in shares of Sleep Number Corp (NASDAQ:SNBR) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 55,600 shares of the company’s stock, valued at approximately $2,297,000. State of New Jersey Common Pension Fund D owned 0.19% of Sleep Number at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SNBR. Alberta Investment Management Corp increased its position in shares of Sleep Number by 37.6% during the third quarter. Alberta Investment Management Corp now owns 36,600 shares of the company’s stock worth $1,512,000 after purchasing an additional 10,000 shares in the last quarter. Bridge City Capital LLC increased its position in shares of Sleep Number by 27.7% during the third quarter. Bridge City Capital LLC now owns 126,846 shares of the company’s stock worth $5,241,000 after purchasing an additional 27,514 shares in the last quarter. Virginia Retirement Systems ET AL increased its position in shares of Sleep Number by 70.1% during the third quarter. Virginia Retirement Systems ET AL now owns 13,100 shares of the company’s stock worth $541,000 after purchasing an additional 5,400 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Sleep Number during the third quarter worth approximately $212,000. Finally, Pacer Advisors Inc. increased its position in shares of Sleep Number by 13.5% during the third quarter. Pacer Advisors Inc. now owns 10,554 shares of the company’s stock worth $436,000 after purchasing an additional 1,259 shares in the last quarter.

In other news, Director Brenda J. Lauderback sold 4,565 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $47.25, for a total value of $215,696.25. Also, SVP Andrea Lee Bloomquist sold 26,520 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $47.25, for a total value of $1,253,070.00. 5.60% of the stock is owned by corporate insiders.

SNBR has been the subject of several research reports. Piper Jaffray Companies boosted their price target on Sleep Number from $43.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Raymond James upgraded Sleep Number from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research report on Wednesday, October 9th. ValuEngine cut Sleep Number from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. SunTrust Banks boosted their price target on Sleep Number to $43.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research upgraded Sleep Number from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Friday, October 18th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $41.75.

Shares of NASDAQ:SNBR opened at $51.26 on Friday. The business has a fifty day moving average of $44.97 and a two-hundred day moving average of $41.12. The stock has a market cap of $1.38 billion, a P/E ratio of 18.35, a PEG ratio of 1.57 and a beta of 1.12. Sleep Number Corp has a 52-week low of $30.70 and a 52-week high of $52.15.

Sleep Number (NASDAQ:SNBR) last issued its earnings results on Tuesday, October 15th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.15. The company had revenue of $474.78 million during the quarter, compared to analysts’ expectations of $462.06 million. Sleep Number had a negative return on equity of 60.10% and a net margin of 5.08%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. Analysts predict that Sleep Number Corp will post 2.6 EPS for the current year.

Sleep Number Company Profile

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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