Sleep Number (NASDAQ:SNBR) Releases Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Sleep Number (NASDAQ:SNBR) issued its quarterly earnings results on Wednesday. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.44, reports. Sleep Number had a negative return on equity of 1.05% and a negative net margin of 1.87%. The firm had revenue of $470.45 million during the quarter, compared to the consensus estimate of $475.17 million.

Sleep Number Stock Down 0.4 %

NASDAQ SNBR opened at $14.18 on Friday. Sleep Number has a 52 week low of $9.00 and a 52 week high of $39.98. The company has a 50-day moving average price of $14.40 and a 200-day moving average price of $13.89.

Institutional Investors Weigh In On Sleep Number

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stadium Capital Management LLC grew its stake in shares of Sleep Number by 51.2% during the 3rd quarter. Stadium Capital Management LLC now owns 2,002,227 shares of the company’s stock valued at $49,235,000 after acquiring an additional 678,001 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Sleep Number by 29.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock valued at $11,896,000 after acquiring an additional 184,038 shares during the period. SW Investment Management LLC grew its stake in shares of Sleep Number by 6.3% during the 3rd quarter. SW Investment Management LLC now owns 584,672 shares of the company’s stock valued at $14,377,000 after acquiring an additional 34,672 shares during the period. Partnership Wealth Management LLC bought a new position in shares of Sleep Number during the 4th quarter valued at approximately $3,836,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Sleep Number by 588.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 239,838 shares of the company’s stock valued at $5,898,000 after acquiring an additional 205,015 shares during the period. Hedge funds and other institutional investors own 85.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNBR shares. Wedbush reissued a “neutral” rating and issued a $13.50 target price on shares of Sleep Number in a research report on Thursday. UBS Group boosted their target price on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Piper Sandler boosted their target price on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday.

About Sleep Number

Sleep Number Corporation, together with its subsidiaries, offers 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 provides smart adjustable bases under the FlextFit brand, and smart beds under the Climate 360 name.