Piper Sandler Lowers Sleep Number (NASDAQ:SNBR) Price Target to $6.00

Sleep Number (NASDAQ:SNBR - Get Free Report) had its price target lowered by investment analysts at Piper Sandler from $11.00 to $6.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price target points to a potential upside of 26.32% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Wedbush dropped their price objective on Sleep Number from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. StockNews.com upgraded shares of Sleep Number from a "hold" rating to a "buy" rating in a research report on Thursday, January 9th.

Sleep Number Stock Performance

NASDAQ:SNBR traded down $0.32 during mid-day trading on Friday, reaching $4.75. 177,467 shares of the company's stock were exchanged, compared to its average volume of 498,844. The firm has a market capitalization of $106.35 million, a PE ratio of -2.62 and a beta of 2.07. Sleep Number has a one year low of $4.48 and a one year high of $20.75. The business's fifty day simple moving average is $9.77 and its two-hundred day simple moving average is $13.76.

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Insider Activity

In other news, insider Gary T. Fazio purchased 12,000 shares of Sleep Number stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $7.54 per share, for a total transaction of $90,480.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sleep Number

Hedge funds have recently modified their holdings of the business. Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in Sleep Number by 1.1% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 137,463 shares of the company's stock worth $2,095,000 after buying an additional 1,496 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Sleep Number by 28.8% in the fourth quarter. GAMMA Investing LLC now owns 7,443 shares of the company's stock valued at $113,000 after purchasing an additional 1,664 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Sleep Number during the fourth quarter valued at approximately $33,000. Northern Trust Corp grew its holdings in Sleep Number by 1.1% during the fourth quarter. Northern Trust Corp now owns 198,667 shares of the company's stock worth $3,028,000 after buying an additional 2,167 shares in the last quarter. Finally, State Street Corp raised its position in Sleep Number by 0.6% in the 3rd quarter. State Street Corp now owns 440,547 shares of the company's stock valued at $8,071,000 after buying an additional 2,472 shares during the last quarter. Institutional investors and hedge funds own 85.67% of the company's stock.

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.