StockNews.com upgraded shares of Sleep Number (NASDAQ:SNBR - Free Report) from a hold rating to a buy rating in a research note released on Tuesday.
Separately, Piper Sandler decreased their price objective on shares of Sleep Number from $16.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st.
Read Our Latest Research Report on SNBR
Sleep Number Stock Down 3.4 %
Shares of SNBR stock traded down $0.41 during mid-day trading on Tuesday, reaching $11.77. The company's stock had a trading volume of 598,415 shares, compared to its average volume of 511,393. The firm has a market capitalization of $263.29 million, a PE ratio of -6.57 and a beta of 2.08. The company's 50 day simple moving average is $15.51 and its 200-day simple moving average is $13.64. Sleep Number has a 12-month low of $8.13 and a 12-month high of $20.75.
Insider Buying and Selling
In related news, major shareholder Stadium Capital Management Llc bought 59,011 shares of Sleep Number stock in a transaction that occurred on Thursday, October 31st. The stock was purchased at an average cost of $13.83 per share, for a total transaction of $816,122.13. Following the acquisition, the insider now owns 1,920,000 shares in the company, valued at $26,553,600. This trade represents a 3.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders acquired 169,373 shares of company stock worth $2,305,052. Corporate insiders own 6.80% of the company's stock.
Institutional Investors Weigh In On Sleep Number
Several hedge funds have recently made changes to their positions in SNBR. Quarry LP bought a new stake in Sleep Number during the 2nd quarter worth approximately $43,000. GAMMA Investing LLC grew its holdings in Sleep Number by 15.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company's stock worth $106,000 after acquiring an additional 784 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Sleep Number in the 1st quarter valued at about $149,000. SG Americas Securities LLC bought a new position in shares of Sleep Number in the third quarter worth about $210,000. Finally, PDT Partners LLC acquired a new stake in shares of Sleep Number in the third quarter valued at approximately $241,000. Institutional investors own 85.67% of the company's stock.
Sleep Number Company Profile
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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.
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