Insider Buying: Sleep Number Co. (NASDAQ:SNBR) Insider Purchases 12,000 Shares of Stock

Sleep Number Co. (NASDAQ:SNBR) insider Gary T. Fazio purchased 12,000 shares of Sleep Number stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $7.54 per share, for a total transaction of $90,480.00. Following the transaction, the insider now directly owns 71,125 shares in the company, valued at $536,282.50. This represents a 20.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Sleep Number Trading Down 4.5 %

SNBR traded down $0.29 during trading hours on Thursday, hitting $6.21. The company’s stock had a trading volume of 1,035,526 shares, compared to its average volume of 462,346. The business’s 50-day moving average price is $15.31 and its 200-day moving average price is $15.56. The stock has a market cap of $138.92 million, a price-to-earnings ratio of -3.43 and a beta of 2.14. Sleep Number Co. has a 12 month low of $6.00 and a 12 month high of $20.75.

Wall Street Analyst Weigh In

SNBR has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on shares of Sleep Number from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Wedbush cut their price target on shares of Sleep Number from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th.

Hedge Funds Weigh In On Sleep Number

Several hedge funds have recently added to or reduced their stakes in SNBR. FMR LLC raised its holdings in shares of Sleep Number by 1,764.3% in the 3rd quarter. FMR LLC now owns 21,216 shares of the company’s stock valued at $389,000 after purchasing an additional 20,078 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Sleep Number by 32.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 90,170 shares of the company’s stock worth $1,652,000 after purchasing an additional 22,022 shares during the period. PDT Partners LLC acquired a new position in Sleep Number during the third quarter worth $241,000. Maverick Capital Ltd. increased its position in shares of Sleep Number by 150.7% during the third quarter. Maverick Capital Ltd. now owns 50,477 shares of the company’s stock worth $925,000 after purchasing an additional 30,341 shares in the last quarter. Finally, RBF Capital LLC acquired a new stake in shares of Sleep Number in the third quarter valued at approximately $458,000. 85.67% of the stock is currently owned by institutional investors.

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.