Sleep Number (NASDAQ:SNBR) Lowered to “Hold” Rating by StockNews.com

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

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

Sleep Number Trading Down 1.0 %

Shares of NASDAQ SNBR opened at $16.13 on Tuesday. The stock has a market cap of $360.84 million, a P/E ratio of -8.91 and a beta of 2.09. Sleep Number has a twelve month low of $8.13 and a twelve month high of $20.75. The stock has a 50 day moving average of $15.38 and a two-hundred day moving average of $13.95.

Insider Buying and Selling at Sleep Number

In other news, major shareholder Stadium Capital Management Llc purchased 15,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were acquired 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 directly owns 2,215,000 shares in the company, valued at $26,845,800. The trade was a 0.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 169,373 shares of company stock worth $2,305,052. 6.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sleep Number

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of Sleep Number by 6.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 85,776 shares of the company’s stock valued at $821,000 after buying an additional 5,550 shares during the period. Rhumbline Advisers boosted its position in shares of Sleep Number by 9.8% during the 2nd quarter. Rhumbline Advisers now owns 37,659 shares of the company’s stock worth $360,000 after purchasing an additional 3,350 shares in the last quarter. Hodges Capital Management Inc. grew its stake in shares of Sleep Number by 138.5% during the 2nd 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. First Dallas Securities Inc. acquired a new position in shares of Sleep Number during the 2nd quarter worth $282,000. Finally, Acadian Asset Management LLC lifted 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 purchasing an additional 135,284 shares during the period. Hedge funds and other institutional investors 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.