PDT Partners LLC Makes New Investment in Sleep Number Co. (NASDAQ:SNBR)

PDT Partners LLC bought a new position in shares of Sleep Number Co. (NASDAQ:SNBR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,137 shares of the company’s stock, valued at approximately $241,000. PDT Partners LLC owned approximately 0.06% of Sleep Number at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of Sleep Number by 32.3% in the third quarter. BNP Paribas Financial Markets now owns 90,170 shares of the company’s stock valued at $1,652,000 after buying an additional 22,022 shares during the period. FMR LLC increased its stake in shares of Sleep Number by 1,764.3% in the third quarter. FMR LLC now owns 21,216 shares of the company’s stock valued at $389,000 after buying an additional 20,078 shares during the period. Rice Hall James & Associates LLC increased its stake in shares of 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 buying an additional 7,080 shares during the period. Tectonic Advisors LLC increased its stake in shares of 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 buying an additional 33,250 shares during the period. Finally, NBC Securities Inc. increased its stake in shares of Sleep Number by 5,000.0% in the third quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock valued at $934,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 85.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SNBR shares. Piper Sandler lowered their price objective on Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th.

Insider Activity at Sleep Number

In other Sleep Number news, major shareholder Stadium Capital Management Llc purchased 59,011 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were purchased at an average cost of $13.83 per share, for a total transaction of $816,122.13. Following the acquisition, the insider now owns 1,920,000 shares of the company’s stock, valued at approximately $26,553,600. This represents a 3.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 169,373 shares of company stock worth $2,305,052 over the last ninety days. Insiders own 6.80% of the company’s stock.

Sleep Number Price Performance

Shares of SNBR stock opened at $16.45 on Wednesday. The business’s 50 day simple moving average is $14.81 and its 200 day simple moving average is $13.56. Sleep Number Co. has a one year low of $8.13 and a one year high of $20.75. The stock has a market capitalization of $367.99 million, a PE ratio of -9.09 and a beta of 2.08.

About Sleep Number

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.