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

StockNews.com upgraded shares of Sleep Number (NASDAQ:SNBR) from a hold rating to a buy rating in a research report report published on Monday.

Separately, Piper Sandler dropped their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st.

Sleep Number Stock Down 3.0 %

Shares of NASDAQ:SNBR opened at $19.25 on Monday. The company has a market cap of $430.64 million, a P/E ratio of -10.64 and a beta of 2.08. The business has a fifty day simple moving average of $15.12 and a 200-day simple moving average of $13.86. Sleep Number has a 52 week low of $8.13 and a 52 week high of $20.75.

Insider Transactions at Sleep Number

In related news, major shareholder Stadium Capital Management Llc purchased 59,011 shares of Sleep Number stock in a transaction that occurred on Thursday, October 31st. The shares were purchased at an average cost of $13.83 per share, with a total value of $816,122.13. Following the transaction, the insider now owns 1,920,000 shares of the company’s stock, valued at approximately $26,553,600. The trade was a 3.17 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders acquired 169,373 shares of company stock valued at $2,305,052 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Sleep Number

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC grew its stake in Sleep Number by 276.5% during the 3rd quarter. Barclays PLC now owns 28,280 shares of the company’s stock valued at $518,000 after purchasing an additional 20,769 shares in the last quarter. Geode Capital Management LLC increased its stake in Sleep Number by 3.6% during the third quarter. Geode Capital Management LLC now owns 518,045 shares of the company’s stock valued at $9,493,000 after purchasing an additional 18,182 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Sleep Number in the third quarter worth about $296,000. Hodges Capital Management Inc. grew its stake in Sleep Number by 146.6% during 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. Finally, Stadium Capital Management LLC increased its holdings in shares of Sleep Number by 8.8% in the 3rd quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock worth $36,793,000 after acquiring an additional 162,164 shares during the period. 85.67% of the stock is owned by hedge funds and other 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.