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

Sleep Number (NASDAQ:SNBR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

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

Sleep Number Stock Performance

NASDAQ:SNBR opened at $14.97 on Thursday. Sleep Number has a fifty-two week low of $8.13 and a fifty-two week high of $20.75. The firm has a market cap of $334.89 million, a PE ratio of -8.27 and a beta of 2.07. The business has a 50 day moving average price of $15.64 and a 200-day moving average price of $14.21.

Insider Buying and Selling

In other Sleep Number news, major shareholder Stadium Capital Management Llc bought 15,000 shares of Sleep Number stock in a transaction dated Monday, November 18th. The shares were purchased at an average cost of $12.12 per share, with a total value of $181,800.00. Following the transaction, the insider now directly owns 2,215,000 shares of the company’s stock, valued at $26,845,800. This represents a 0.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 169,373 shares of company stock valued at $2,305,052 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its position in shares of Sleep Number by 135.3% in the 2nd 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 last quarter. Hodges Capital Management Inc. raised its holdings in Sleep Number by 146.6% in the third quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock worth $18,520,000 after buying an additional 601,005 shares during the last quarter. Pacific Ridge Capital Partners LLC bought a new position in shares of Sleep Number in the second quarter worth approximately $3,342,000. NBC Securities Inc. grew its holdings in shares of 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 buying an additional 50,000 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in shares of Sleep Number during the second quarter valued at approximately $899,000. 85.67% of the stock is owned by hedge funds and other institutional investors.

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.