Lord Abbett & CO. LLC lessened its stake in shares of Sleep Number Co. (NASDAQ:SNBR) by 28.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 153,681 shares of the company’s stock after selling 62,072 shares during the period. Lord Abbett & CO. LLC owned 0.65% of Sleep Number worth $16,897,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. lifted its holdings in shares of Sleep Number by 14.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,058,913 shares of the company’s stock worth $116,427,000 after acquiring an additional 129,822 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Sleep Number by 133.7% in the first quarter. Acadian Asset Management LLC now owns 273,508 shares of the company’s stock worth $39,248,000 after buying an additional 156,465 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Sleep Number by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 260,230 shares of the company’s stock worth $37,341,000 after buying an additional 57,608 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Sleep Number by 24.5% in the second quarter. Principal Financial Group Inc. now owns 230,221 shares of the company’s stock worth $25,313,000 after buying an additional 45,319 shares during the period. Finally, abrdn plc bought a new position in shares of Sleep Number in the second quarter worth about $25,271,000. 95.81% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. Zacks Investment Research lowered Sleep Number from a “buy” rating to a “hold” rating in a report on Thursday, September 16th. TheStreet lowered shares of Sleep Number from a “c+” rating to a “d-” rating in a report on Tuesday, July 20th. Finally, Piper Sandler restated an “overweight” rating and set a $135.00 target price (down previously from $165.00) on shares of Sleep Number in a report on Wednesday, July 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $121.80.
Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Monday, July 19th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.29). The company had revenue of $484.32 million during the quarter, compared to analyst estimates of $506.25 million. Sleep Number had a net margin of 9.37% and a negative return on equity of 75.84%. The business’s quarterly revenue was up 70.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.45) EPS. On average, analysts expect that Sleep Number Co. will post 7.28 EPS for the current year.
Sleep Number Profile
Sleep Number Corp. designs, manufactures, markets, and distributes beds, proprietary beds, and other sleep-related accessory products. It offers beds under the brand name Sleep Number. The company was founded by Robert Walker and JoAnn Walker in 1987 and is headquartered in Minneapolis, MN.
Further Reading: Death Cross
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