Sleep Number (NASDAQ:SNBR) Upgraded at StockNews.com

StockNews.com upgraded shares of Sleep Number (NASDAQ:SNBR) from a hold rating to a buy rating in a report released on Friday.

Separately, Piper Sandler dropped their price objective on Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday.

Sleep Number Stock Performance

NASDAQ SNBR opened at $12.71 on Friday. Sleep Number has a one year low of $8.13 and a one year high of $20.75. The firm has a 50 day simple moving average of $15.65 and a 200-day simple moving average of $13.62. The firm has a market cap of $284.07 million, a price-to-earnings ratio of -7.02 and a beta of 2.08.

Insider Activity

In related news, Director Stephen E. Macadam acquired 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $12.35 per share, for a total transaction of $531,050.00. Following the transaction, the director now owns 102,729 shares in the company, valued at $1,268,703.15. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Sleep Number

A number of institutional investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC boosted its holdings in Sleep Number by 3.9% in the 3rd quarter. Rice Hall James & Associates LLC now owns 187,469 shares of the company’s stock worth $3,434,000 after acquiring an additional 7,080 shares during the period. Tectonic Advisors LLC raised its stake in Sleep Number by 77.6% during the third quarter. Tectonic Advisors LLC now owns 76,080 shares of the company’s stock worth $1,394,000 after acquiring an additional 33,250 shares during the period. NBC Securities Inc. lifted its holdings 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 worth $934,000 after purchasing an additional 50,000 shares during the last quarter. Inspire Investing LLC bought a new stake in Sleep Number in the third quarter valued at $419,000. Finally, GAMMA Investing LLC boosted its stake in 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 purchasing an additional 784 shares during the period. Hedge funds and other institutional investors own 85.67% of the company’s stock.

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.