Sleep Number Corp (NASDAQ:SNBR) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 6,026,600 shares, an increase of 11.3% from the June 30th total of 5,414,000 shares. Based on an average daily trading volume, of 515,300 shares, the days-to-cover ratio is presently 11.7 days. Approximately 20.4% of the shares of the stock are short sold.

In other news, CFO David R. Callen purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $33.57 per share, for a total transaction of $67,140.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shelly Radue Ibach sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $48.87, for a total value of $1,954,800.00. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SNBR. Acadian Asset Management LLC purchased a new stake in Sleep Number during the first quarter valued at about $5,704,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Sleep Number in the 1st quarter worth $695,000. Norges Bank purchased a new stake in shares of Sleep Number in the 4th quarter worth $16,774,000. Deutsche Bank AG increased its stake in shares of Sleep Number by 56.9% in the 4th quarter. Deutsche Bank AG now owns 135,066 shares of the company’s stock worth $4,283,000 after purchasing an additional 48,969 shares in the last quarter. Finally, GAM Holding AG bought a new position in Sleep Number in the 1st quarter worth $581,000.

SNBR traded down $0.87 during midday trading on Thursday, reaching $43.31. 462,255 shares of the company were exchanged, compared to its average volume of 632,349. Sleep Number has a one year low of $30.44 and a one year high of $52.08. The stock has a market capitalization of $1.29 billion, a P/E ratio of 22.56, a PEG ratio of 1.06 and a beta of 1.13. The stock’s 50-day simple moving average is $43.04 and its 200 day simple moving average is $41.08.

Sleep Number (NASDAQ:SNBR) last issued its earnings results on Thursday, July 25th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.07. Sleep Number had a negative return on equity of 66.17% and a net margin of 4.66%. The firm had revenue of $355.96 million for the quarter, compared to analysts’ expectations of $336.30 million. During the same quarter last year, the business earned $0.10 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. Equities analysts expect that Sleep Number will post 2.55 EPS for the current year.

Several equities analysts recently issued reports on SNBR shares. TheStreet upgraded Sleep Number from a “d-” rating to a “c+” rating in a report on Thursday, April 18th. ValuEngine cut Sleep Number from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Zacks Investment Research cut Sleep Number from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. SunTrust Banks raised their price target on Sleep Number to $43.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Barclays reiterated an “equal weight” rating and issued a $38.00 price target (up previously from $36.00) on shares of Sleep Number in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $44.75.

Sleep Number Company Profile

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

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