Sleep Number (NASDAQ:SNBR) Upgraded to “Buy” at StockNews.com

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

Separately, Piper Sandler reduced their price objective on 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 Price Performance

Shares of SNBR opened at $11.77 on Tuesday. The business’s fifty day moving average price is $15.51 and its 200 day moving average price is $13.64. Sleep Number has a 12-month low of $8.13 and a 12-month high of $20.75. The stock has a market capitalization of $263.29 million, a PE ratio of -6.57 and a beta of 2.08.

Insider Buying and Selling at Sleep Number

In related news, major shareholder Stadium Capital Management Llc bought 15,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $12.12 per share, for a total transaction of $181,800.00. Following the completion of the purchase, the insider now owns 2,215,000 shares of the company’s stock, valued at $26,845,800. This represents a 0.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have purchased 169,373 shares of company stock worth $2,305,052. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Barclays PLC increased its holdings in shares of Sleep Number by 276.5% during the third quarter. Barclays PLC now owns 28,280 shares of the company’s stock valued at $518,000 after purchasing an additional 20,769 shares during the period. Geode Capital Management LLC increased its holdings in shares of Sleep Number by 3.6% during the third quarter. Geode Capital Management LLC now owns 518,045 shares of the company’s stock valued at $9,493,000 after purchasing an additional 18,182 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Sleep Number during the third quarter valued at $296,000. Hodges Capital Management Inc. increased its holdings in shares of Sleep Number by 146.6% during the third quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock valued at $18,520,000 after purchasing an additional 601,005 shares during the period. Finally, Stadium Capital Management LLC increased its holdings in shares of Sleep Number by 8.8% during the third quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock valued at $36,793,000 after purchasing an additional 162,164 shares during the period. 85.67% of the stock is owned by institutional investors and hedge funds.

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.