AlphaQuest LLC Purchases 43,540 Shares of Sleep Number Corporation $SNBR

AlphaQuest LLC grew its holdings in shares of Sleep Number Corporation (NASDAQ:SNBR) by 209.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,367 shares of the company’s stock after purchasing an additional 43,540 shares during the quarter. AlphaQuest LLC owned approximately 0.28% of Sleep Number worth $452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SG Capital Management LLC bought a new stake in shares of Sleep Number during the 2nd quarter valued at $2,145,000. Mutual Advisors LLC bought a new position in Sleep Number in the 2nd quarter worth $459,000. Allianz Asset Management GmbH purchased a new position in Sleep Number during the second quarter valued at $525,000. Inspire Investing LLC lifted its position in Sleep Number by 6.4% during the second quarter. Inspire Investing LLC now owns 57,898 shares of the company’s stock valued at $391,000 after purchasing an additional 3,505 shares in the last quarter. Finally, Corton Capital Inc. bought a new stake in Sleep Number during the second quarter valued at about $114,000. Hedge funds and other institutional investors own 85.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SNBR shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Sleep Number in a report on Friday, January 9th. UBS Group dropped their price target on shares of Sleep Number from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, Piper Sandler increased their price objective on shares of Sleep Number from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sleep Number presently has an average rating of “Reduce” and a consensus target price of $10.00.

Sleep Number Stock Performance

SNBR opened at $11.94 on Friday. The stock has a market capitalization of $272.11 million, a price-to-earnings ratio of -3.50 and a beta of 1.89. The company has a fifty day moving average of $9.14 and a 200 day moving average of $8.05. Sleep Number Corporation has a fifty-two week low of $3.49 and a fifty-two week high of $18.67.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.08). The business had revenue of $342.88 million for the quarter, compared to analyst estimates of $362.48 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was down 19.6% on a year-over-year basis. On average, equities research analysts forecast that Sleep Number Corporation will post -0.42 earnings per share for the current year.

Sleep Number Profile

Sleep Number Corporation (NASDAQ: SNBR) is a Minneapolis?based company specializing in the design, manufacture and retail of adjustable air mattresses and bedding products. The company’s flagship Sleep Number® bed features dual air chambers that allow each side of the mattress to be tailored to an individual’s preferred firmness, supported by integrated SleepIQ® technology. This proprietary monitoring system tracks biometric data such as heart rate, breathing and motion, delivering personalized sleep insights through a connected app.

Founded in 1987 as Select Comfort, the business pioneered adjustable air mattress technology and has since grown into a direct-to-consumer retailer.