Geode Capital Management LLC Purchases 18,182 Shares of Sleep Number Co. (NASDAQ:SNBR)

Geode Capital Management LLC boosted its position in Sleep Number Co. (NASDAQ:SNBR) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 518,045 shares of the company’s stock after buying an additional 18,182 shares during the period. Geode Capital Management LLC’s holdings in Sleep Number were worth $9,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNBR. Hodges Capital Management Inc. boosted its position in shares of Sleep Number by 146.6% in the third quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock valued at $18,520,000 after acquiring an additional 601,005 shares during the period. Pacific Ridge Capital Partners LLC acquired a new stake in Sleep Number in the 2nd quarter worth about $3,342,000. Millennium Management LLC boosted its holdings in Sleep Number by 326.7% in the 2nd quarter. Millennium Management LLC now owns 370,987 shares of the company’s stock valued at $3,550,000 after purchasing an additional 284,052 shares during the period. Stadium Capital Management LLC grew its position in shares of Sleep Number by 8.8% during the 3rd quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock worth $36,793,000 after purchasing an additional 162,164 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of 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 purchasing an additional 135,284 shares during the period. 85.67% of the stock is owned by institutional investors and hedge funds.

Sleep Number Trading Down 0.2 %

Shares of NASDAQ:SNBR opened at $15.24 on Thursday. The firm has a 50 day moving average of $15.42 and a 200-day moving average of $14.04. Sleep Number Co. has a 12 month low of $8.13 and a 12 month high of $20.75. The stock has a market capitalization of $340.93 million, a PE ratio of -8.42 and a beta of 2.09.

Insider Buying and Selling at Sleep Number

In other Sleep Number news, major shareholder Stadium Capital Management Llc bought 36,097 shares of Sleep Number stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $13.09 per share, with a total value of $472,509.73. Following the acquisition, the insider now owns 2,054,802 shares in the company, valued at $26,897,358.18. This trade represents a 1.79 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SNBR shares. Piper Sandler cut their price target on Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com downgraded Sleep Number from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th.

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.