Sleep Number (NASDAQ:SNBR) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Sleep Number (NASDAQ:SNBR) from a buy rating to a hold rating in a research report released on Monday morning.

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

Sleep Number Trading Down 1.2 %

Sleep Number stock opened at $13.65 on Monday. The stock has a fifty day moving average price of $15.60 and a 200 day moving average price of $13.66. Sleep Number has a 52 week low of $8.13 and a 52 week high of $20.75. The firm has a market capitalization of $305.36 million, a P/E ratio of -7.81 and a beta of 2.08.

Insiders Place Their Bets

In other Sleep Number news, major shareholder Stadium Capital Management Llc acquired 36,097 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $13.09 per share, for a total transaction of $472,509.73. Following the completion of the purchase, the insider now directly owns 2,054,802 shares in the company, valued at $26,897,358.18. This represents a 1.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders bought 142,833 shares of company stock worth $1,976,578 over the last three months. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Sleep Number

A number of hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in Sleep Number during the 2nd quarter worth $43,000. GAMMA Investing LLC lifted its stake in shares of Sleep Number by 15.7% during the third quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock worth $106,000 after purchasing an additional 784 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Sleep Number in the first quarter worth about $149,000. SG Americas Securities LLC acquired a new stake in shares of Sleep Number in the third quarter valued at about $210,000. Finally, PDT Partners LLC purchased a new stake in shares of Sleep Number during the 3rd quarter valued at about $241,000. Hedge funds and other institutional investors 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.