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 research note released on Thursday morning.

Separately, Piper Sandler lowered their price target 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 Stock Performance

NASDAQ:SNBR opened at $14.97 on Thursday. Sleep Number has a fifty-two week low of $8.13 and a fifty-two week high of $20.75. The company has a 50 day moving average price of $15.64 and a 200 day moving average price of $14.24. The stock has a market capitalization of $334.89 million, a P/E ratio of -8.27 and a beta of 2.07.

Insiders Place Their Bets

In related news, major shareholder Stadium Capital Management Llc acquired 15,000 shares of the stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $12.12 per share, with a total value of $181,800.00. Following the completion of the transaction, the insider now owns 2,215,000 shares in the company, valued at $26,845,800. This represents a 0.68 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 169,373 shares of company stock worth $2,305,052 in the last ninety days. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNBR. Hodges Capital Management Inc. raised its holdings in shares of Sleep Number by 146.6% in the 3rd quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock valued at $18,520,000 after purchasing an additional 601,005 shares in the last quarter. Pacific Ridge Capital Partners LLC purchased a new stake in Sleep Number during the 2nd quarter worth about $3,342,000. Millennium Management LLC boosted its position in shares of Sleep Number by 326.7% during the 2nd quarter. Millennium Management LLC now owns 370,987 shares of the company’s stock worth $3,550,000 after acquiring an additional 284,052 shares in the last quarter. Stadium Capital Management LLC increased its holdings in shares of Sleep Number by 8.8% in the 3rd quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock valued at $36,793,000 after acquiring an additional 162,164 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings 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 valued at $2,249,000 after acquiring an additional 135,284 shares during the last quarter. 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.