Sleep Number (NASDAQ:SNBR) Upgraded at StockNews.com

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

Separately, Piper Sandler lowered 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.

Sleep Number Trading Up 5.8 %

Shares of SNBR stock opened at $12.35 on Tuesday. The firm has a market capitalization of $276.28 million, a P/E ratio of -6.82 and a beta of 2.08. Sleep Number has a 1 year low of $8.13 and a 1 year high of $20.75. The firm’s fifty day simple moving average is $15.41 and its 200 day simple moving average is $13.61.

Insider Buying and Selling at Sleep Number

In related news, major shareholder Stadium Capital Management Llc bought 15,000 shares of Sleep Number stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $12.12 per share, for a total transaction of $181,800.00. Following the completion of the acquisition, the insider now owns 2,215,000 shares in the company, valued at approximately $26,845,800. This represents a 0.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 169,373 shares of company stock worth $2,305,052 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Sleep Number

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC grew its stake in shares of Sleep Number by 135.3% during the 2nd quarter. Acadian Asset Management LLC now owns 235,305 shares of the company’s stock worth $2,249,000 after acquiring an additional 135,284 shares in the last quarter. Pacific Ridge Capital Partners LLC acquired a new stake in shares of Sleep Number during the second quarter worth $3,342,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Sleep Number by 37.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,433 shares of the company’s stock valued at $490,000 after acquiring an additional 8,779 shares in the last quarter. NBC Securities Inc. raised its stake in Sleep Number by 5,000.0% in the 3rd quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock worth $934,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in Sleep Number in the 2nd quarter valued at about $899,000. 85.67% of the stock is currently owned by institutional investors and hedge funds.

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.