Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Stadium Capital Management Llc Acquires 59,011 Shares of Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 59,011 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were acquired at an average price of $13.83 per share, with a total value of $816,122.13. Following the purchase, the insider now owns 1,920,000 shares in the company, valued at $26,553,600. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Stadium Capital Management Llc also recently made the following trade(s):

• On Monday, November 4th, Stadium Capital Management Llc purchased 36,097 shares of Sleep Number stock. The shares were acquired at an average price of $13.09 per share, with a total value of $472,509.73.

Sleep Number Stock Performance

Sleep Number stock opened at $13.10 on Tuesday. Sleep Number Co. has a 1 year low of $8.13 and a 1 year high of $20.75. The firm has a 50 day moving average price of $15.61 and a 200 day moving average price of $13.62. The company has a market cap of $292.79 million, a price-to-earnings ratio of -7.24 and a beta of 2.08.

Institutional Investors Weigh In On Sleep Number

A number of institutional investors have recently bought and sold shares of the stock. Rice Hall James & Associates LLC grew its holdings in Sleep Number by 3.9% in the third quarter. Rice Hall James & Associates LLC now owns 187,469 shares of the company’s stock valued at $3,434,000 after purchasing an additional 7,080 shares during the period. Tectonic Advisors LLC grew its holdings in Sleep Number by 77.6% in the third quarter. Tectonic Advisors LLC now owns 76,080 shares of the company’s stock valued at $1,394,000 after purchasing an additional 33,250 shares during the period. NBC Securities Inc. grew its stake in Sleep Number by 5,000.0% during the third quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock worth $934,000 after buying an additional 50,000 shares during the period. Inspire Investing LLC purchased a new stake in Sleep Number during the third quarter worth approximately $419,000. Finally, GAMMA Investing LLC grew its stake 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 buying an additional 784 shares during the period. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SNBR shares. StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler cut their target price on shares of 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 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.