Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Purchases $146,673.40 in Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 11,540 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $12.71 per share, with a total value of $146,673.40. Following the acquisition, the insider now owns 2,200,000 shares in the company, valued at $27,962,000. The trade was a 0.53 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Stadium Capital Management Llc also recently made the following trade(s):

• On Monday, November 18th, Stadium Capital Management Llc acquired 15,000 shares of Sleep Number stock. The shares were acquired at an average cost of $12.12 per share, for a total transaction of $181,800.00.
• On Wednesday, November 13th, Stadium Capital Management Llc bought 22,000 shares of Sleep Number stock. The stock was purchased at an average price of $13.86 per share, with a total value of $304,920.00.
• On Monday, November 11th, Stadium Capital Management Llc bought 25,325 shares of Sleep Number stock. The shares were acquired at an average price of $14.90 per share, with a total value of $377,342.50.
• On Wednesday, November 6th, Stadium Capital Management Llc acquired 400 shares of Sleep Number stock. The stock was purchased at an average cost of $14.21 per share, with a total value of $5,684.00.
• On Monday, November 4th, Stadium Capital Management Llc purchased 36,097 shares of Sleep Number stock. The shares were acquired at an average price of $13.09 per share, for a total transaction of $472,509.73.
• On Thursday, October 31st, Stadium Capital Management Llc purchased 59,011 shares of Sleep Number stock. The shares were acquired at an average price of $13.83 per share, for a total transaction of $816,122.13.

Sleep Number Stock Down 1.3 %

NASDAQ:SNBR traded down $0.16 on Monday, hitting $12.18. The stock had a trading volume of 450,515 shares, compared to its average volume of 510,981. The stock has a market cap of $272.48 million, a price-to-earnings ratio of -6.73 and a beta of 2.08. The company has a fifty day moving average price of $15.55 and a two-hundred day moving average price of $13.65. Sleep Number Co. has a 1-year low of $8.13 and a 1-year high of $20.75.

Hedge Funds Weigh In On Sleep Number

Several large investors have recently made changes to their positions in SNBR. Quarry LP acquired a new position in shares of Sleep Number in the 2nd quarter worth approximately $43,000. GAMMA Investing LLC lifted its holdings in shares of Sleep Number by 15.7% in 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. XTX Topco Ltd acquired a new position in shares of Sleep Number in the 2nd quarter worth approximately $128,000. State Board of Administration of Florida Retirement System purchased a new stake in Sleep Number during the 1st quarter worth approximately $149,000. Finally, Susquehanna Fundamental Investments LLC increased its stake in Sleep Number by 6.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after buying an additional 1,100 shares during the period. 85.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNBR has been the topic of a number of recent research reports. StockNews.com lowered shares of Sleep Number from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Piper Sandler decreased their target price 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.

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.