Sleep Number (NASDAQ:SNBR) Upgraded at StockNews.com

Sleep Number (NASDAQ:SNBR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Separately, Piper Sandler cut their price target on Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 31st.

Sleep Number Trading Down 1.3 %

SNBR opened at $12.18 on Tuesday. Sleep Number has a 12 month low of $8.13 and a 12 month high of $20.75. The company has a market cap of $272.48 million, a PE ratio of -6.73 and a beta of 2.08. The company has a 50 day moving average of $15.55 and a 200 day moving average of $13.65.

Insider Activity

In other Sleep Number news, major shareholder Stadium Capital Management Llc acquired 36,097 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $13.09 per share, for a total transaction of $472,509.73. Following the completion of the transaction, the insider now owns 2,054,802 shares of the company’s stock, valued at approximately $26,897,358.18. This represents a 1.79 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 169,373 shares of company stock worth $2,305,052. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sleep Number

Several hedge funds have recently bought and sold shares of SNBR. Hodges Capital Management Inc. increased its holdings in shares of Sleep Number by 146.6% in the 3rd quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock worth $18,520,000 after buying an additional 601,005 shares during the last quarter. Pacific Ridge Capital Partners LLC bought a new position in Sleep Number in the second quarter valued at $3,342,000. Millennium Management LLC raised its position in Sleep Number by 326.7% during the second quarter. Millennium Management LLC now owns 370,987 shares of the company’s stock valued at $3,550,000 after purchasing an additional 284,052 shares in the last quarter. Stadium Capital Management LLC lifted its stake in Sleep Number by 8.8% during the third quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock worth $36,793,000 after purchasing an additional 162,164 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Sleep Number by 135.3% during the second quarter. Acadian Asset Management LLC now owns 235,305 shares of the company’s stock worth $2,249,000 after purchasing an additional 135,284 shares during the last quarter. 85.67% of the stock is currently owned by institutional investors.

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.