Fmr LLC Has $389,000 Position in Sleep Number Co. (NASDAQ:SNBR)

Fmr LLC raised its stake in shares of Sleep Number Co. (NASDAQ:SNBR) by 1,764.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,216 shares of the company’s stock after acquiring an additional 20,078 shares during the quarter. Fmr LLC’s holdings in Sleep Number were worth $389,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SNBR. Pacific Ridge Capital Partners LLC acquired a new stake in shares of Sleep Number during the 2nd quarter worth about $3,342,000. Millennium Management LLC grew its stake in Sleep Number by 326.7% during the second quarter. Millennium Management LLC now owns 370,987 shares of the company’s stock worth $3,550,000 after buying an additional 284,052 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in shares of Sleep Number by 138.5% during the second quarter. Hodges Capital Management Inc. now owns 409,915 shares of the company’s stock worth $3,923,000 after buying an additional 238,015 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Sleep Number by 135.3% in the second quarter. Acadian Asset Management LLC now owns 235,305 shares of the company’s stock valued at $2,249,000 after acquiring an additional 135,284 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in shares of Sleep Number in the 2nd quarter worth approximately $899,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SNBR. StockNews.com raised Sleep Number from a “hold” rating to a “buy” rating in a report on Monday. Piper Sandler decreased their target price on Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

Sleep Number Trading Down 6.7 %

Shares of SNBR stock opened at $16.68 on Friday. Sleep Number Co. has a 1 year low of $8.13 and a 1 year high of $20.75. The firm’s 50 day moving average is $15.31 and its 200-day moving average is $13.96. The firm has a market capitalization of $373.15 million, a price-to-earnings ratio of -9.22 and a beta of 2.08.

Insider Buying and Selling

In other news, major shareholder Stadium Capital Management Llc acquired 36,097 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $13.09 per share, for a total transaction of $472,509.73. Following the completion of the transaction, the insider now directly owns 2,054,802 shares in the company, valued at $26,897,358.18. This trade represents a 1.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 169,373 shares of company stock worth $2,305,052 in the last quarter. Insiders own 6.80% of the company’s stock.

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.