Sleep Number (NASDAQ:SNBR) Rating Increased to Buy at StockNews.com

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

Separately, Piper Sandler cut their target price 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 Stock Performance

SNBR stock opened at $12.49 on Tuesday. The stock has a market capitalization of $279.41 million, a price-to-earnings 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 stock’s fifty day moving average is $15.35 and its two-hundred day moving average is $13.60.

Insider Activity at Sleep Number

In other Sleep Number news, major shareholder Stadium Capital Management Llc acquired 15,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $12.12 per share, for a total transaction of $181,800.00. Following the transaction, the insider now owns 2,215,000 shares of the company’s stock, valued at $26,845,800. The trade was a 0.68 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 169,373 shares of company stock worth $2,305,052 in the last quarter. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sleep Number

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Sleep Number by 15.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after acquiring an additional 784 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Sleep Number by 5.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,122 shares of the company’s stock valued at $323,000 after acquiring an additional 1,052 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Sleep Number by 4.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 25,694 shares of the company’s stock valued at $246,000 after acquiring an additional 1,071 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of Sleep Number by 6.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock valued at $180,000 after acquiring an additional 1,100 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Sleep Number by 0.6% in the 3rd quarter. State Street Corp now owns 440,547 shares of the company’s stock valued at $8,071,000 after acquiring an additional 2,472 shares in 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.