State Street Corp Has $8.07 Million Stock Holdings in Sleep Number Co. (NASDAQ:SNBR)

State Street Corp raised its stake in shares of Sleep Number Co. (NASDAQ:SNBR) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 440,547 shares of the company’s stock after purchasing an additional 2,472 shares during the quarter. State Street Corp owned 1.97% of Sleep Number worth $8,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SNBR. Quarry LP acquired a new stake in Sleep Number in the 2nd quarter valued at $43,000. GAMMA Investing LLC lifted its holdings in shares of Sleep Number by 15.7% during the third quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after acquiring an additional 784 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Sleep Number in the 3rd quarter valued at $210,000. PDT Partners LLC acquired a new stake in shares of Sleep Number during the 3rd quarter worth about $241,000. Finally, XTX Topco Ltd bought a new position in Sleep Number during the 2nd quarter valued at about $128,000. 85.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Stadium Capital Management Llc acquired 36,097 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $13.09 per share, for a total transaction of $472,509.73. Following the completion of the transaction, the insider now directly owns 2,054,802 shares in the company, valued at $26,897,358.18. This trade represents a 1.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 169,373 shares of company stock worth $2,305,052 in the last quarter. Insiders own 6.80% of the company’s stock.

Sleep Number Trading Down 2.4 %

Shares of SNBR stock opened at $15.20 on Friday. Sleep Number Co. has a 1 year low of $8.13 and a 1 year high of $20.75. The firm’s 50 day moving average is $15.36 and its 200-day moving average is $14.00. The firm has a market capitalization of $340.04 million, a price-to-earnings ratio of -8.40 and a beta of 2.08.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. 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 report on Thursday, October 31st. StockNews.com cut Sleep Number from a “buy” rating to a “hold” rating in a report on Tuesday.

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.