Dynamic Technology Lab Private Ltd Acquires 42,923 Shares of Sleep Number Co. (NASDAQ:SNBR)

Dynamic Technology Lab Private Ltd boosted its holdings in Sleep Number Co. (NASDAQ:SNBR) by 144.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,714 shares of the company’s stock after acquiring an additional 42,923 shares during the quarter. Dynamic Technology Lab Private Ltd owned 0.33% of Sleep Number worth $1,108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SNBR. Wells Fargo & Company MN raised its stake in Sleep Number by 26.7% in the fourth quarter. Wells Fargo & Company MN now owns 13,063 shares of the company’s stock valued at $199,000 after purchasing an additional 2,756 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in shares of Sleep Number in the 4th quarter worth $320,000. Diametric Capital LP purchased a new stake in shares of Sleep Number during the 4th quarter valued at $160,000. Summit Securities Group LLC bought a new stake in shares of Sleep Number during the 4th quarter worth $33,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Sleep Number by 18.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 385,599 shares of the company’s stock worth $5,877,000 after acquiring an additional 60,410 shares in the last quarter. Hedge funds and other institutional investors own 85.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Piper Sandler dropped their target price on Sleep Number from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, Wedbush reduced their price target 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.

Sleep Number Trading Down 6.8 %

Shares of NASDAQ:SNBR opened at $5.23 on Friday. Sleep Number Co. has a 12-month low of $4.65 and a 12-month high of $20.75. The stock’s 50-day moving average price is $12.04 and its 200-day moving average price is $14.52. The stock has a market capitalization of $117.09 million, a P/E ratio of -2.89 and a beta of 2.07.

Insider Transactions at Sleep Number

In other news, insider Gary T. Fazio bought 12,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $7.54 per share, for a total transaction of $90,480.00. Following the completion of the acquisition, the insider now owns 71,125 shares in the company, valued at approximately $536,282.50. This trade represents a 20.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 6.80% of the company’s stock.

Sleep Number Company 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.