Sleep Number (NASDAQ:SNBR) Raised 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 issued to investors on Thursday.

Separately, Piper Sandler lowered their target price on shares of 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 Stock Up 0.3 %

SNBR stock opened at $15.07 on Thursday. The company has a market cap of $337.13 million, a price-to-earnings ratio of -8.33 and a beta of 2.07. Sleep Number has a twelve month low of $8.13 and a twelve month high of $20.75. The business has a 50 day moving average price of $15.60 and a two-hundred day moving average price of $14.18.

Insider Buying and Selling at Sleep Number

In related news, major shareholder Stadium Capital Management Llc acquired 59,011 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were purchased at an average cost of $13.83 per share, for a total transaction of $816,122.13. Following the completion of the acquisition, the insider now directly owns 1,920,000 shares in the company, valued at approximately $26,553,600. This trade represents a 3.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 169,373 shares of company stock worth $2,305,052 over the last 90 days. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Sleep Number during the second quarter worth approximately $43,000. GAMMA Investing LLC increased its stake in shares of Sleep Number by 15.7% during the third quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock worth $106,000 after purchasing an additional 784 shares during the period. XTX Topco Ltd acquired a new stake in Sleep Number during the 2nd quarter worth approximately $128,000. Susquehanna Fundamental Investments LLC boosted its stake in Sleep Number by 6.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock valued at $180,000 after purchasing an additional 1,100 shares during the period. Finally, Maverick Capital Ltd. grew its holdings in Sleep Number by 17.4% in the 2nd quarter. Maverick Capital Ltd. now owns 20,136 shares of the company’s stock valued at $193,000 after buying an additional 2,980 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

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.