Sleep Number (NASDAQ:SNBR) Rating Lowered to “Hold” at StockNews.com

Sleep Number (NASDAQ:SNBR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Separately, Piper Sandler decreased their price target on Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st.

Sleep Number Stock Down 0.2 %

SNBR opened at $16.29 on Tuesday. The firm has a market cap of $364.42 million, a PE ratio of -9.00 and a beta of 2.09. The business has a fifty day simple moving average of $15.38 and a 200-day simple moving average of $13.95. Sleep Number has a fifty-two week low of $8.13 and a fifty-two week high of $20.75.

Insiders Place Their Bets

In other Sleep Number news, major shareholder Stadium Capital Management Llc bought 36,097 shares of the stock in a transaction on Monday, November 4th. The shares were bought at an average price of $13.09 per share, with a total value of $472,509.73. Following the purchase, the insider now directly owns 2,054,802 shares in the company, valued at $26,897,358.18. The trade was a 1.79 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 169,373 shares of company stock worth $2,305,052. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Sleep Number

A number of hedge funds have recently made changes to their positions in SNBR. Quarry LP acquired a new position in Sleep Number in the 2nd quarter valued at approximately $43,000. GAMMA Investing LLC boosted its stake in shares of Sleep Number by 15.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after buying an additional 784 shares during the period. SG Americas Securities LLC purchased a new position in shares of Sleep Number during the 3rd quarter valued at $210,000. PDT Partners LLC acquired a new position in shares of Sleep Number in the third quarter worth $241,000. Finally, XTX Topco Ltd acquired a new position in shares of Sleep Number in the second quarter worth $128,000. 85.67% of the stock is 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.