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

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

Separately, 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.

Sleep Number Price Performance

Shares of Sleep Number stock opened at $13.65 on Monday. Sleep Number has a 1-year low of $8.13 and a 1-year high of $20.75. The company has a market capitalization of $305.36 million, a PE ratio of -7.81 and a beta of 2.08. The business has a 50-day moving average of $15.60 and a 200-day moving average of $13.66.

Insiders Place Their Bets

In other news, major shareholder Stadium Capital Management Llc bought 36,097 shares of Sleep Number stock in a transaction on Monday, November 4th. The shares were bought at an average price of $13.09 per share, with a total value of $472,509.73. Following the acquisition, the insider now directly owns 2,054,802 shares in the company, valued at approximately $26,897,358.18. This represents a 1.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 142,833 shares of company stock valued at $1,976,578 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Sleep Number

Institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Sleep Number during the 2nd quarter valued at about $43,000. GAMMA Investing LLC raised its stake in Sleep Number by 15.7% during 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. XTX Topco Ltd acquired a new stake in Sleep Number in the second quarter worth about $128,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Sleep Number in the 1st quarter worth approximately $149,000. Finally, Susquehanna Fundamental Investments LLC lifted its position in Sleep Number by 6.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after purchasing an additional 1,100 shares during the period. 85.67% of the stock is currently owned by institutional investors.

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.