Sleep Number (NASDAQ:SNBR) Rating Lowered to “Hold” at StockNews.com

Sleep Number (NASDAQ:SNBR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Separately, Piper Sandler decreased 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 Stock Performance

Sleep Number stock opened at $16.13 on Tuesday. The business’s fifty day moving average is $15.39 and its two-hundred day moving average is $13.96. The firm has a market cap of $360.84 million, a P/E ratio of -8.91 and a beta of 2.09. Sleep Number has a 52 week low of $8.13 and a 52 week high of $20.75.

Insider Transactions at Sleep Number

In other Sleep Number news, major shareholder Stadium Capital Management Llc bought 15,000 shares of Sleep Number stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $12.12 per share, with a total value of $181,800.00. Following the purchase, the insider now owns 2,215,000 shares of the company’s stock, valued at $26,845,800. This trade represents a 0.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders bought a total of 169,373 shares of company stock worth $2,305,052 over the last 90 days. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Sleep Number

Several large investors have recently bought and sold shares of the business. Barclays PLC raised its position in shares of Sleep Number by 276.5% during the 3rd quarter. Barclays PLC now owns 28,280 shares of the company’s stock valued at $518,000 after acquiring an additional 20,769 shares during the last quarter. Geode Capital Management LLC lifted its stake in Sleep Number by 3.6% in the third quarter. Geode Capital Management LLC now owns 518,045 shares of the company’s stock valued at $9,493,000 after buying an additional 18,182 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Sleep Number during the 3rd quarter worth about $296,000. Hodges Capital Management Inc. increased its stake 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 acquiring an additional 601,005 shares during the last quarter. Finally, Stadium Capital Management LLC raised its position 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 period. 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.