Piper Sandler Cuts Sleep Number (NASDAQ:SNBR) Price Target to $11.00

Sleep Number (NASDAQ:SNBR) had its target price cut by Piper Sandler from $12.00 to $11.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently commented on SNBR. StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Wedbush decreased their price target on Sleep Number from $18.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday.

Sleep Number Trading Up 1.1 %

SNBR opened at $7.57 on Thursday. The stock has a fifty day moving average price of $15.81 and a 200-day moving average price of $15.70. Sleep Number has a 12 month low of $6.91 and a 12 month high of $20.75. The firm has a market cap of $169.35 million, a price-to-earnings ratio of -4.18 and a beta of 2.14.

Institutional Investors Weigh In On Sleep Number

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNBR. Summit Securities Group LLC purchased a new position in shares of Sleep Number in the fourth quarter worth about $33,000. GAMMA Investing LLC raised its stake in shares of Sleep Number by 28.8% in the fourth quarter. GAMMA Investing LLC now owns 7,443 shares of the company’s stock worth $113,000 after purchasing an additional 1,664 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Sleep Number by 6,582.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,551 shares of the company’s stock worth $115,000 after purchasing an additional 7,438 shares during the last quarter. Alpha Wealth Funds LLC purchased a new position in shares of Sleep Number in the fourth quarter worth about $153,000. Finally, Diametric Capital LP purchased a new position in shares of Sleep Number in the fourth quarter worth about $160,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

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.