Sleep Number Co. (NASDAQ:SNBR) – Investment analysts at Piper Sandler dropped their Q3 2021 earnings estimates for shares of Sleep Number in a research note issued to investors on Tuesday, June 8th. Piper Sandler analyst P. Keith now anticipates that the company will post earnings per share of $1.63 for the quarter, down from their previous forecast of $1.74. Piper Sandler also issued estimates for Sleep Number’s Q4 2021 earnings at $1.46 EPS, Q3 2022 earnings at $2.02 EPS and Q4 2022 earnings at $1.91 EPS.
SNBR has been the topic of several other research reports. Wedbush boosted their target price on shares of Sleep Number from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, February 18th. UBS Group raised shares of Sleep Number from a “sell” rating to a “neutral” rating and lifted their price target for the company from $65.00 to $135.00 in a research note on Thursday, February 18th. Finally, TheStreet downgraded shares of Sleep Number from a “b” rating to a “c+” rating in a research report on Friday, April 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $112.20.
Sleep Number (NASDAQ:SNBR) last posted its earnings results on Tuesday, April 20th. The company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.68. The firm had revenue of $568.26 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $1.36 earnings per share.
Several large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of Sleep Number by 1.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 9,725 shares of the company’s stock worth $1,395,000 after purchasing an additional 120 shares during the period. Comerica Bank lifted its position in shares of Sleep Number by 0.5% in the 4th quarter. Comerica Bank now owns 29,118 shares of the company’s stock worth $2,898,000 after purchasing an additional 139 shares during the period. BancorpSouth Bank lifted its position in shares of Sleep Number by 2.3% in the 1st quarter. BancorpSouth Bank now owns 8,096 shares of the company’s stock worth $1,162,000 after purchasing an additional 184 shares during the period. Aperio Group LLC lifted its position in Sleep Number by 3.3% during the 4th quarter. Aperio Group LLC now owns 9,231 shares of the company’s stock valued at $756,000 after acquiring an additional 298 shares during the period. Finally, Optimum Investment Advisors purchased a new position in Sleep Number during the 1st quarter valued at about $43,000. 92.67% of the stock is owned by hedge funds and other institutional investors.
In other Sleep Number news, EVP Melissa Barra sold 1,274 shares of the stock in a transaction on Thursday, March 25th. The shares were sold at an average price of $127.42, for a total transaction of $162,333.08. Following the completion of the sale, the executive vice president now owns 41,272 shares of the company’s stock, valued at approximately $5,258,878.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Shelly Radue Ibach sold 2,930 shares of the firm’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $144.75, for a total transaction of $424,117.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,056 shares of company stock worth $5,411,183. 5.70% of the stock is owned by insiders.
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.
Read More: Hold Rating
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