StockNews.com Upgrades Sleep Number (NASDAQ:SNBR) to Buy

StockNews.com upgraded shares of Sleep Number (NASDAQ:SNBR) from a hold rating to a buy rating in a research report report published on Monday morning.

Separately, Piper Sandler dropped their price target on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st.

Sleep Number Trading Down 3.0 %

Shares of NASDAQ SNBR opened at $19.25 on Monday. Sleep Number has a one year low of $8.13 and a one year high of $20.75. The business has a 50-day moving average price of $15.12 and a two-hundred day moving average price of $13.86. The firm has a market capitalization of $430.64 million, a PE ratio of -10.64 and a beta of 2.08.

Insider Activity

In other news, major shareholder Stadium Capital Management Llc purchased 15,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $12.12 per share, with a total value of $181,800.00. Following the acquisition, the insider now directly owns 2,215,000 shares of the company’s stock, valued at approximately $26,845,800. This represents a 0.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders bought 169,373 shares of company stock valued at $2,305,052. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Sleep Number

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of Sleep Number during the 2nd quarter worth approximately $43,000. GAMMA Investing LLC grew its position 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 worth $106,000 after purchasing an additional 784 shares in the last quarter. XTX Topco Ltd bought a new position in Sleep Number during the 2nd quarter worth $128,000. Susquehanna Fundamental Investments LLC increased its position in shares of Sleep Number by 6.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after purchasing an additional 1,100 shares during the period. Finally, Maverick Capital Ltd. raised its position in shares of Sleep Number by 17.4% in the 2nd quarter. Maverick Capital Ltd. now owns 20,136 shares of the company’s stock valued at $193,000 after buying an additional 2,980 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

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.