Barclays PLC Acquires 20,769 Shares of Sleep Number Co. (NASDAQ:SNBR)

Barclays PLC grew its stake in Sleep Number Co. (NASDAQ:SNBR) by 276.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,280 shares of the company’s stock after purchasing an additional 20,769 shares during the quarter. Barclays PLC owned about 0.13% of Sleep Number worth $518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SNBR. Acadian Asset Management LLC lifted its stake in Sleep Number by 135.3% in the second quarter. Acadian Asset Management LLC now owns 235,305 shares of the company’s stock valued at $2,249,000 after buying an additional 135,284 shares during the period. Hodges Capital Management Inc. increased its stake 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 valued at $18,520,000 after acquiring an additional 601,005 shares during the last quarter. Pacific Ridge Capital Partners LLC bought a new stake in shares of Sleep Number in the 2nd quarter valued at about $3,342,000. NBC Securities Inc. raised its position in shares of Sleep Number by 5,000.0% in the 3rd quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock valued at $934,000 after acquiring an additional 50,000 shares during the period. Finally, Federated Hermes Inc. bought a new position in Sleep Number during the 2nd quarter worth approximately $899,000. 85.67% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Stadium Capital Management Llc purchased 15,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $12.12 per share, for a total transaction of $181,800.00. Following the completion of the acquisition, the insider now directly owns 2,215,000 shares in the company, valued at approximately $26,845,800. This trade represents a 0.68 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 169,373 shares of company stock worth $2,305,052 over the last quarter. 6.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNBR shares. Piper Sandler lowered their target price 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. StockNews.com cut shares of Sleep Number from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th.

Sleep Number Stock Performance

Shares of SNBR opened at $14.95 on Friday. The firm has a market capitalization of $334.45 million, a PE ratio of -8.26 and a beta of 2.09. The stock has a 50 day simple moving average of $15.44 and a 200 day simple moving average of $14.04. Sleep Number Co. has a 52-week low of $8.13 and a 52-week high of $20.75.

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.