Geode Capital Management LLC Has $9.49 Million Stock Holdings in Sleep Number Co. (NASDAQ:SNBR)

Geode Capital Management LLC grew its position in shares of Sleep Number Co. (NASDAQ:SNBR) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 518,045 shares of the company’s stock after acquiring an additional 18,182 shares during the quarter. Geode Capital Management LLC owned 2.32% of Sleep Number worth $9,493,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Sleep Number by 15.7% in the third quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock worth $106,000 after purchasing an additional 784 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its position in Sleep Number by 6.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after buying an additional 1,100 shares in the last quarter. State Street Corp boosted its stake in shares of Sleep Number by 0.6% during the 3rd quarter. State Street Corp now owns 440,547 shares of the company’s stock worth $8,071,000 after buying an additional 2,472 shares during the last quarter. Maverick Capital Ltd. grew its holdings in shares of Sleep Number by 17.4% in the 2nd quarter. Maverick Capital Ltd. now owns 20,136 shares of the company’s stock valued at $193,000 after acquiring an additional 2,980 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Sleep Number by 9.8% in the 2nd quarter. Rhumbline Advisers now owns 37,659 shares of the company’s stock valued at $360,000 after acquiring an additional 3,350 shares in the last quarter. 85.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on SNBR shares. StockNews.com cut Sleep Number from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Piper Sandler cut their price objective 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 Stock Performance

Shares of SNBR stock opened at $15.24 on Thursday. Sleep Number Co. has a 52-week low of $8.13 and a 52-week high of $20.75. The stock has a market cap of $340.93 million, a price-to-earnings ratio of -8.42 and a beta of 2.09. The firm’s 50-day moving average is $15.42 and its 200-day moving average is $14.04.

Insider Buying and Selling at Sleep Number

In related news, major shareholder Stadium Capital Management Llc acquired 59,011 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were purchased at an average cost of $13.83 per share, for a total transaction of $816,122.13. Following the completion of the acquisition, the insider now directly owns 1,920,000 shares in the company, valued at approximately $26,553,600. This trade represents a 3.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 169,373 shares of company stock worth $2,305,052 over the last 90 days. Company insiders own 6.80% of the company’s stock.

Sleep Number 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.