Sleep Number (NASDAQ:SNBR) Rating Lowered to Hold at StockNews.com

Sleep Number (NASDAQ:SNBR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, Piper Sandler reduced their target price 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 Stock Down 6.7 %

Shares of SNBR traded down $1.06 on Monday, reaching $14.86. The stock had a trading volume of 436,090 shares, compared to its average volume of 469,917. The firm has a market capitalization of $332.42 million, a PE ratio of -8.21 and a beta of 2.08. The firm has a 50-day moving average of $15.62 and a 200 day moving average of $13.65. Sleep Number has a twelve month low of $8.13 and a twelve month high of $20.75.

Insider Activity at Sleep Number

In related news, major shareholder Stadium Capital Management Llc bought 36,097 shares of Sleep Number stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $13.09 per share, with a total value of $472,509.73. Following the purchase, the insider now owns 2,054,802 shares in the company, valued at $26,897,358.18. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have purchased 95,508 shares of company stock valued at $1,294,316. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Sleep Number during the 2nd quarter worth $43,000. GAMMA Investing LLC lifted its stake in shares of Sleep Number by 15.7% during the 3rd 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 purchased a new position in shares of Sleep Number during the 2nd quarter worth $128,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Sleep Number during the 1st quarter worth $149,000. Finally, Susquehanna Fundamental Investments LLC lifted its stake in shares of Sleep Number by 6.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after purchasing an additional 1,100 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.