Rhumbline Advisers Increases Stake in Sleep Number Co. (NASDAQ:SNBR)

Rhumbline Advisers boosted its stake in shares of Sleep Number Co. (NASDAQ:SNBR) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,128 shares of the company’s stock after purchasing an additional 3,342 shares during the period. Rhumbline Advisers owned approximately 0.18% of Sleep Number worth $612,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Sleep Number by 28.8% during the fourth quarter. GAMMA Investing LLC now owns 7,443 shares of the company’s stock worth $113,000 after buying an additional 1,664 shares during the period. PDT Partners LLC acquired a new stake in Sleep Number during the 3rd quarter worth about $241,000. Y Intercept Hong Kong Ltd purchased a new stake in Sleep Number during the 3rd quarter valued at about $296,000. FMR LLC increased its holdings in shares of Sleep Number by 1,764.3% in the third quarter. FMR LLC now owns 21,216 shares of the company’s stock valued at $389,000 after purchasing an additional 20,078 shares during the period. Finally, Inspire Investing LLC raised its stake in shares of Sleep Number by 13.4% in the fourth quarter. Inspire Investing LLC now owns 25,917 shares of the company’s stock worth $395,000 after purchasing an additional 3,071 shares during the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number Trading Up 1.1 %

Shares of SNBR stock opened at $7.57 on Friday. Sleep Number Co. has a twelve month low of $6.91 and a twelve month high of $20.75. The stock has a market cap of $169.35 million, a P/E ratio of -4.18 and a beta of 2.14. The stock has a 50 day moving average of $15.81 and a 200 day moving average of $15.69.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SNBR shares. StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Piper Sandler dropped their price objective on shares of Sleep Number from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Wedbush reduced their target price on shares of Sleep Number from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday.

About Sleep Number

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.