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

StockNews.com upgraded shares of Sleep Number (NASDAQ:SNBR) from a hold rating to a buy rating in a report issued on Friday.

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

Sleep Number Price Performance

Shares of SNBR opened at $13.10 on Friday. The firm has a 50 day simple moving average of $15.61 and a two-hundred day simple moving average of $13.62. Sleep Number has a one year low of $8.13 and a one year high of $20.75. The company has a market cap of $292.79 million, a P/E ratio of -7.24 and a beta of 2.08.

Insider Buying and Selling at Sleep Number

In other news, major shareholder Stadium Capital Management Llc purchased 59,011 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was bought at an average cost of $13.83 per share, for a total transaction of $816,122.13. Following the purchase, the insider now owns 1,920,000 shares of the company’s stock, valued at approximately $26,553,600. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Sleep Number in the second quarter worth $43,000. GAMMA Investing LLC increased its stake in shares of Sleep Number by 15.7% in the third quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after buying an additional 784 shares during the period. XTX Topco Ltd acquired a new stake in shares of Sleep Number in the second quarter valued at about $128,000. State Board of Administration of Florida Retirement System bought a new position in shares of Sleep Number during the first quarter worth about $149,000. Finally, Susquehanna Fundamental Investments LLC lifted its stake in shares of Sleep Number by 6.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after acquiring an additional 1,100 shares during the period. 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.