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

Sleep Number Co. (NASDAQ:SNBR - Get Free Report) insider Gary T. Fazio bought 12,000 shares of Sleep Number stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $7.54 per share, with a total value of $90,480.00. Following the completion of the purchase, the insider now owns 71,125 shares in the company, valued at approximately $536,282.50. This trade represents a 20.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Sleep Number Stock Performance

Shares of NASDAQ SNBR traded down $0.29 during midday trading on Monday, reaching $7.06. 845,154 shares of the stock were exchanged, compared to its average volume of 465,642. The stock has a market capitalization of $158.07 million, a P/E ratio of -3.90 and a beta of 2.14. The company has a 50 day simple moving average of $14.98 and a 200 day simple moving average of $15.45. Sleep Number Co. has a twelve month low of $6.00 and a twelve month high of $20.75.

Hedge Funds Weigh In On Sleep Number

A number of hedge funds have recently modified their holdings of the business. Alpha Wealth Funds LLC acquired a new position in Sleep Number in the fourth quarter valued at about $153,000. Public Employees Retirement System of Ohio boosted its position in shares of Sleep Number by 34.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 39,377 shares of the company's stock worth $600,000 after purchasing an additional 10,028 shares during the period. Squarepoint Ops LLC increased its holdings in Sleep Number by 605.1% in the 4th quarter. Squarepoint Ops LLC now owns 79,836 shares of the company's stock valued at $1,217,000 after purchasing an additional 68,514 shares during the last quarter. Two Sigma Investments LP raised its position in Sleep Number by 6.0% in the fourth quarter. Two Sigma Investments LP now owns 109,981 shares of the company's stock valued at $1,676,000 after purchasing an additional 6,246 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new position in Sleep Number during the fourth quarter worth $339,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com raised shares of Sleep Number from a "hold" rating to a "buy" rating in a report on Thursday, January 9th. Wedbush decreased their price target on shares of Sleep Number from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Finally, Piper Sandler lowered their price objective on Sleep Number from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th.

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.