Lido Advisors LLC Makes New $467,000 Investment in Sleep Number Co. (NASDAQ:SNBR)

Lido Advisors LLC bought a new position in shares of Sleep Number Co. (NASDAQ:SNBR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,258 shares of the company’s stock, valued at approximately $467,000.

Other institutional investors have also added to or reduced their stakes in the company. Penserra Capital Management LLC raised its holdings in shares of Sleep Number by 24.0% in the 1st quarter. Penserra Capital Management LLC now owns 5,518 shares of the company’s stock valued at $791,000 after purchasing an additional 1,068 shares in the last quarter. Origin Asset Management LLP acquired a new stake in shares of Sleep Number in the 1st quarter valued at $261,000. Federated Hermes Inc. raised its holdings in shares of Sleep Number by 40,790.9% in the 1st quarter. Federated Hermes Inc. now owns 8,996 shares of the company’s stock valued at $1,291,000 after purchasing an additional 8,974 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Sleep Number by 6.6% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 56,925 shares of the company’s stock valued at $8,168,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Ergoteles LLC acquired a new stake in shares of Sleep Number in the 1st quarter valued at $2,320,000. Institutional investors own 92.67% of the company’s stock.

In other Sleep Number news, CEO Shelly Radue Ibach sold 2,930 shares of the firm’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $144.75, for a total transaction of $424,117.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jean Michel Valette sold 25,000 shares of the firm’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $137.70, for a total transaction of $3,442,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 40,782 shares of company stock worth $5,248,850 over the last three months. 5.70% of the stock is currently owned by insiders.

NASDAQ SNBR opened at $111.43 on Friday. The firm has a fifty day moving average of $111.12. The stock has a market cap of $2.73 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 1.31 and a beta of 1.97. Sleep Number Co. has a 12 month low of $40.26 and a 12 month high of $151.44.

Sleep Number (NASDAQ:SNBR) last posted its earnings results on Tuesday, April 20th. The company reported $2.51 EPS for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.68. The firm had revenue of $568.26 million for the quarter, compared to the consensus estimate of $582.34 million. Sleep Number had a net margin of 8.54% and a negative return on equity of 81.06%. The company’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm posted $1.36 EPS. Analysts expect that Sleep Number Co. will post 6.77 earnings per share for the current year.

A number of brokerages have recently weighed in on SNBR. Zacks Investment Research lowered shares of Sleep Number from a “buy” rating to a “hold” rating in a report on Wednesday. TheStreet lowered shares of Sleep Number from a “b” rating to a “c+” rating in a report on Friday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Sleep Number has an average rating of “Hold” and an average price target of $129.50.

About Sleep Number

Sleep Number Corporation, together with its subsidiaries, provides 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 offers adjustable bases under the FlextFit name; temperature-balancing products, including DualTemp layer; SleepIQ Kids k2 beds for kids; and smart beds under the Sleep Number 360 and 360 names.

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

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