Sleep Number (NASDAQ:SNBR) PT Raised to $16.00

Sleep Number (NASDAQ:SNBR) had its price target hoisted by equities research analysts at Piper Sandler from $12.00 to $16.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential downside of 18.33% from the company’s current price.

Separately, StockNews.com cut shares of Sleep Number from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Sleep Number Stock Up 3.2 %

SNBR opened at $19.59 on Tuesday. Sleep Number has a twelve month low of $8.13 and a twelve month high of $26.34. The company’s 50-day moving average price is $13.00 and its two-hundred day moving average price is $13.37. The stock has a market cap of $437.37 million, a price-to-earnings ratio of -12.89 and a beta of 2.04.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.22. The firm had revenue of $408.40 million during the quarter, compared to the consensus estimate of $415.05 million. The company’s revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, sell-side analysts anticipate that Sleep Number will post -0.13 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Stephen E. Macadam bought 43,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $12.35 per share, with a total value of $531,050.00. Following the completion of the acquisition, the director now owns 102,729 shares of the company’s stock, valued at $1,268,703.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sleep Number

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its stake in shares of Sleep Number by 85.2% during the 4th quarter. Russell Investments Group Ltd. now owns 46,154 shares of the company’s stock valued at $684,000 after purchasing an additional 21,233 shares during the period. Charles Schwab Investment Management Inc. grew its position in Sleep Number by 29.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock valued at $11,896,000 after buying an additional 184,038 shares during the period. BNP Paribas Financial Markets increased its holdings in Sleep Number by 22.5% during the fourth quarter. BNP Paribas Financial Markets now owns 34,756 shares of the company’s stock valued at $515,000 after buying an additional 6,390 shares during the last quarter. Jump Financial LLC purchased a new stake in Sleep Number during the fourth quarter valued at approximately $307,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Sleep Number in the fourth quarter worth approximately $473,000. Institutional investors own 85.67% of the company’s stock.

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.