StockNews.com Upgrades Sleep Number (NASDAQ:SNBR) to “Buy”

StockNews.com upgraded shares of Sleep Number (NASDAQ:SNBRFree Report) from a hold rating to a buy rating in a report published on Thursday.

Separately, Piper Sandler dropped their price target 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.

Get Our Latest Research Report on Sleep Number

Sleep Number Price Performance

NASDAQ SNBR opened at $14.97 on Thursday. The company has a fifty day moving average of $15.64 and a two-hundred day moving average of $14.24. Sleep Number has a 1 year low of $8.13 and a 1 year high of $20.75. The company has a market capitalization of $334.89 million, a PE ratio of -8.27 and a beta of 2.07.

Insider Buying and Selling at Sleep Number

In related news, major shareholder Stadium Capital Management Llc bought 36,097 shares of the stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $13.09 per share, for a total transaction of $472,509.73. Following the purchase, the insider now owns 2,054,802 shares of the company’s stock, valued at $26,897,358.18. This trade represents a 1.79 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have acquired 169,373 shares of company stock worth $2,305,052. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sleep Number

Hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in Sleep Number during the 2nd quarter worth $43,000. GAMMA Investing LLC raised its holdings in 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 in the last quarter. XTX Topco Ltd acquired a new stake in Sleep Number in the second quarter valued at about $128,000. Susquehanna Fundamental Investments LLC boosted its holdings 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 in the last quarter. Finally, Maverick Capital Ltd. increased its position in Sleep Number by 17.4% during the 2nd quarter. Maverick Capital Ltd. now owns 20,136 shares of the company’s stock worth $193,000 after purchasing an additional 2,980 shares during the period. 85.67% of the stock is owned by institutional investors and hedge funds.

About Sleep Number

(Get Free Report)

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.

See Also

Receive News & Ratings for Sleep Number Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sleep Number and related companies with MarketBeat.com's FREE daily email newsletter.