Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Buys $304,920.00 in Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 22,000 shares of Sleep Number stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $13.86 per share, with a total value of $304,920.00. Following the transaction, the insider now directly owns 2,171,860 shares of the company’s stock, valued at $30,101,979.60. This represents a 1.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, November 11th, Stadium Capital Management Llc bought 25,325 shares of Sleep Number stock. The stock was bought at an average cost of $14.90 per share, with a total value of $377,342.50.
• On Wednesday, November 6th, Stadium Capital Management Llc bought 400 shares of Sleep Number stock. The stock was bought 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 bought 36,097 shares of Sleep Number stock. The stock was bought at an average cost of $13.09 per share, with a total value 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 9.6 %

Shares of SNBR stock opened at $12.34 on Friday. The stock has a market cap of $276.05 million, a P/E ratio of -6.82 and a beta of 2.08. Sleep Number Co. has a 52 week low of $8.13 and a 52 week high of $20.75. The company’s fifty day simple moving average is $15.59 and its two-hundred day simple moving average is $13.66.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SNBR shares. Piper Sandler dropped 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 note on Thursday, October 31st. StockNews.com cut shares of Sleep Number from a “buy” rating to a “hold” rating in a research note on Monday, November 11th.

Institutional Trading of Sleep Number

A number of large investors have recently made changes to their positions in the business. Barclays PLC grew its holdings in Sleep Number by 276.5% during the 3rd quarter. Barclays PLC now owns 28,280 shares of the company’s stock valued at $518,000 after purchasing an additional 20,769 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Sleep Number during the 3rd quarter valued at about $296,000. Hodges Capital Management Inc. grew its holdings in Sleep Number by 146.6% during the 3rd quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock valued at $18,520,000 after purchasing an additional 601,005 shares during the last quarter. Stadium Capital Management LLC boosted its position in Sleep Number by 8.8% in the 3rd quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock valued at $36,793,000 after buying an additional 162,164 shares during the period. Finally, State Street Corp boosted 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 period. 85.67% of the stock is currently owned by institutional investors.

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.