Gary T. Fazio Acquires 12,000 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) insider Gary T. Fazio bought 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $7.54 per share, with a total value of $90,480.00. Following the purchase, the insider now owns 71,125 shares of the company’s stock, valued at $536,282.50. The trade was a 20.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Sleep Number Stock Performance

Sleep Number stock traded down $0.29 during trading on Thursday, reaching $6.21. The company had a trading volume of 1,035,526 shares, compared to its average volume of 462,346. The firm has a market capitalization of $138.92 million, a price-to-earnings ratio of -3.43 and a beta of 2.14. Sleep Number Co. has a 12-month low of $6.00 and a 12-month high of $20.75. The stock’s 50 day moving average price is $15.31 and its two-hundred day moving average price is $15.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNBR. Wealthfront Advisers LLC purchased a new position in shares of Sleep Number in the 4th quarter worth about $14,861,000. Stadium Capital Management LLC increased its position in Sleep Number by 30.3% during the 4th quarter. Stadium Capital Management LLC now owns 2,616,459 shares of the company’s stock worth $39,875,000 after purchasing an additional 608,092 shares in the last quarter. Hodges Capital Management Inc. raised its holdings in Sleep Number by 146.6% in the third quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock valued at $18,520,000 after buying an additional 601,005 shares during the period. Formula Growth Ltd. grew its stake in Sleep Number by 31.8% during the fourth quarter. Formula Growth Ltd. now owns 485,206 shares of the company’s stock worth $7,395,000 after buying an additional 117,055 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Sleep Number by 98.0% in the fourth quarter. JPMorgan Chase & Co. now owns 226,144 shares of the company’s stock worth $3,446,000 after acquiring an additional 111,915 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

Analyst Ratings Changes

SNBR has been the topic of a number of analyst reports. StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Piper Sandler reduced their price objective on Sleep Number from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Finally, Wedbush cut their price objective on Sleep Number from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th.

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.