State Street Corp Has $8.07 Million Stock Position in Sleep Number Co. (NASDAQ:SNBR)

State Street Corp grew its stake in Sleep Number Co. (NASDAQ:SNBR) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 440,547 shares of the company’s stock after purchasing an additional 2,472 shares during the quarter. State Street Corp’s holdings in Sleep Number were worth $8,071,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SNBR. Acadian Asset Management LLC boosted its holdings in Sleep Number by 135.3% during the second quarter. Acadian Asset Management LLC now owns 235,305 shares of the company’s stock worth $2,249,000 after buying an additional 135,284 shares during the last quarter. Pacific Ridge Capital Partners LLC bought a new position in Sleep Number during the 2nd quarter worth approximately $3,342,000. NBC Securities Inc. grew its holdings in Sleep Number by 5,000.0% during the third quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock valued at $934,000 after purchasing an additional 50,000 shares during the period. Federated Hermes Inc. bought a new stake in Sleep Number in the second quarter valued at approximately $899,000. Finally, Hodges Capital Management Inc. raised its holdings in Sleep Number by 138.5% in the second quarter. Hodges Capital Management Inc. now owns 409,915 shares of the company’s stock worth $3,923,000 after purchasing an additional 238,015 shares during the period. 85.67% of the stock is currently owned by institutional investors.

Insider Activity

In other Sleep Number news, major shareholder Stadium Capital Management Llc purchased 36,097 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was bought at an average cost 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 of the company’s stock, valued at $26,897,358.18. The trade was a 1.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought a total of 169,373 shares of company stock worth $2,305,052 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNBR. Piper Sandler lowered their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. StockNews.com lowered Sleep Number from a “buy” rating to a “hold” rating in a research report on Tuesday.

Sleep Number Trading Down 2.4 %

SNBR opened at $15.20 on Friday. The stock has a market capitalization of $340.04 million, a P/E ratio of -8.40 and a beta of 2.08. Sleep Number Co. has a 12 month low of $8.13 and a 12 month high of $20.75. The firm’s fifty day simple moving average is $15.36 and its 200 day simple moving average is $14.00.

Sleep Number 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.