Sleep Number (NASDAQ:SNBR) Stock Rating Lowered by StockNews.com

by · The Cerbat Gem

Sleep Number (NASDAQ:SNBR – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, Piper Sandler decreased their price target on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st.

Check Out Our Latest Report on Sleep Number

Sleep Number Stock Down 6.7 %

Sleep Number stock traded down $1.06 during mid-day trading on Monday, hitting $14.86. The company’s stock had a trading volume of 436,090 shares, compared to its average volume of 469,917. The stock has a market capitalization of $332.42 million, a P/E ratio of -8.21 and a beta of 2.08. Sleep Number has a twelve month low of $8.13 and a twelve month high of $20.75. The stock’s fifty day moving average price is $15.62 and its two-hundred day moving average price is $13.65.

Insiders Place Their Bets

In other news, major shareholder Stadium Capital Management Llc acquired 36,097 shares of the stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $13.09 per share, for a total transaction of $472,509.73. Following the transaction, the insider now owns 2,054,802 shares in the company, valued at approximately $26,897,358.18. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have bought 95,508 shares of company stock worth $1,294,316. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Sleep Number

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNBR. Rice Hall James & Associates LLC boosted its stake in shares of Sleep Number by 3.9% during the 3rd quarter. Rice Hall James & Associates LLC now owns 187,469 shares of the company’s stock valued at $3,434,000 after buying an additional 7,080 shares during the period. Tectonic Advisors LLC boosted its stake in shares of Sleep Number by 77.6% during the 3rd quarter. Tectonic Advisors LLC now owns 76,080 shares of the company’s stock valued at $1,394,000 after buying an additional 33,250 shares during the period. NBC Securities Inc. boosted its stake in shares of Sleep Number by 5,000.0% during the 3rd quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock valued at $934,000 after buying an additional 50,000 shares during the period. Inspire Investing LLC acquired a new stake in shares of Sleep Number during the 3rd quarter valued at $419,000. Finally, GAMMA Investing LLC boosted its stake in shares of Sleep Number by 15.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after buying an additional 784 shares during the period. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

About Sleep Number

(Get Free Report)

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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