Sleep Number Co. (NASDAQ:SNBR) Short Interest Update

Sleep Number Co. (NASDAQ:SNBR - Get Free Report) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,060,000 shares, a decrease of 13.8% from the February 28th total of 2,390,000 shares. Approximately 9.9% of the shares of the company are sold short. Based on an average daily volume of 515,700 shares, the days-to-cover ratio is currently 4.0 days.

Insider Activity

In other news, insider Gary T. Fazio bought 12,000 shares of the company's stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $7.54 per share, with a total value of $90,480.00. Following the completion of the acquisition, the insider now owns 71,125 shares of the company's stock, valued at $536,282.50. This represents a 20.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sleep Number

Several hedge funds have recently modified their holdings of SNBR. GAMMA Investing LLC boosted its stake in shares of Sleep Number by 116.1% during the first quarter. GAMMA Investing LLC now owns 16,085 shares of the company's stock valued at $102,000 after purchasing an additional 8,642 shares in the last quarter. Alpha Wealth Funds LLC acquired a new position in Sleep Number in the 4th quarter valued at approximately $153,000. Public Employees Retirement System of Ohio raised its stake in shares of Sleep Number by 34.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 39,377 shares of the company's stock valued at $600,000 after acquiring an additional 10,028 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Sleep Number by 605.1% during the fourth quarter. Squarepoint Ops LLC now owns 79,836 shares of the company's stock worth $1,217,000 after purchasing an additional 68,514 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Sleep Number by 6.0% in the fourth quarter. Two Sigma Investments LP now owns 109,981 shares of the company's stock worth $1,676,000 after purchasing an additional 6,246 shares during the last quarter. Institutional investors and hedge funds own 85.67% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SNBR shares. Wedbush dropped their price target on shares of Sleep Number from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. StockNews.com upgraded shares of Sleep Number from a "hold" rating to a "buy" rating in a research note on Thursday, January 9th. Finally, Piper Sandler cut their price target on shares of Sleep Number from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, March 6th.

Sleep Number Price Performance

SNBR stock traded down $0.02 during trading on Monday, reaching $5.21. 1,057,543 shares of the company were exchanged, compared to its average volume of 492,985. The company has a market capitalization of $116.65 million, a price-to-earnings ratio of -2.88 and a beta of 2.07. The company has a 50-day moving average of $12.04 and a two-hundred day moving average of $14.48. Sleep Number has a twelve month low of $4.65 and a twelve month high of $20.75.

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.