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

Sleep Number (NASDAQ:SNBR) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Separately, Piper Sandler lowered their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

Sleep Number Price Performance

NASDAQ:SNBR opened at $11.67 on Tuesday. The stock has a market capitalization of $261.06 million, a PE ratio of -6.50 and a beta of 2.08. The business’s 50-day simple moving average is $15.46 and its 200-day simple moving average is $13.63. Sleep Number has a fifty-two week low of $8.13 and a fifty-two week high of $20.75.

Insider Buying and Selling at Sleep Number

In other Sleep Number news, major shareholder Stadium Capital Management Llc acquired 25,325 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $14.90 per share, for a total transaction of $377,342.50. Following the acquisition, the insider now directly owns 2,120,000 shares in the company, valued at $31,588,000. This represents a 1.21 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have bought a total of 169,373 shares of company stock valued at $2,305,052 in the last ninety days. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sleep Number

Several large investors have recently modified their holdings of SNBR. Hodges Capital Management Inc. raised its position in shares of Sleep Number by 146.6% during the third quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock worth $18,520,000 after purchasing an additional 601,005 shares during the period. Pacific Ridge Capital Partners LLC bought a new position in shares of Sleep Number during the second quarter valued at about $3,342,000. Millennium Management LLC boosted its holdings in Sleep Number by 326.7% during the second quarter. Millennium Management LLC now owns 370,987 shares of the company’s stock worth $3,550,000 after purchasing an additional 284,052 shares during the last quarter. Stadium Capital Management LLC lifted its position in shares of Sleep Number by 8.8% during the 3rd quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock worth $36,793,000 after buying an additional 162,164 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Sleep Number by 135.3% in the 2nd quarter. Acadian Asset Management LLC now owns 235,305 shares of the company’s stock worth $2,249,000 after buying an additional 135,284 shares during the last quarter. 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.