Wealthfront Advisers LLC Buys New Shares in Sleep Number Co. (NASDAQ:SNBR)

Wealthfront Advisers LLC bought a new stake in Sleep Number Co. (NASDAQ:SNBR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 975,156 shares of the company’s stock, valued at approximately $14,861,000.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Sleep Number by 28.8% during the 4th quarter. GAMMA Investing LLC now owns 7,443 shares of the company’s stock valued at $113,000 after acquiring an additional 1,664 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Sleep Number in the 4th quarter valued at approximately $183,000. Olympiad Research LP purchased a new stake in Sleep Number during the 4th quarter valued at $221,000. PDT Partners LLC purchased a new stake in Sleep Number during the 3rd quarter valued at $241,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Sleep Number in the 3rd quarter worth $296,000. Hedge funds and other institutional investors own 85.67% of the company’s stock.

Sleep Number Stock Performance

SNBR opened at $7.01 on Wednesday. The stock has a market capitalization of $156.82 million, a price-to-earnings ratio of -3.87 and a beta of 2.14. The company has a fifty day moving average of $15.49 and a two-hundred day moving average of $15.62. Sleep Number Co. has a fifty-two week low of $6.83 and a fifty-two week high of $20.75.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Sleep Number from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Wedbush reduced their target price on shares of Sleep Number from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Finally, Piper Sandler reduced their target price on shares of Sleep Number from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th.

Sleep Number Profile

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.