Insider Buying: Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Buys 15,000 Shares of Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $12.12 per share, for a total transaction of $181,800.00. Following the completion of the acquisition, the insider now directly owns 2,215,000 shares of the company’s stock, valued at $26,845,800. The trade was a 0.68 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, November 15th, Stadium Capital Management Llc bought 11,540 shares of Sleep Number stock. The stock was bought at an average cost of $12.71 per share, for a total transaction of $146,673.40.
• On Wednesday, November 13th, Stadium Capital Management Llc purchased 22,000 shares of Sleep Number stock. The stock was bought at an average cost of $13.86 per share, for a total transaction of $304,920.00.
• On Monday, November 11th, Stadium Capital Management Llc purchased 25,325 shares of Sleep Number stock. The shares were purchased at an average price of $14.90 per share, for a total transaction of $377,342.50.
• On Wednesday, November 6th, Stadium Capital Management Llc bought 400 shares of Sleep Number stock. The shares were purchased at an average cost of $14.21 per share, for a total transaction 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 acquired 59,011 shares of Sleep Number stock. The stock was acquired at an average cost of $13.83 per share, with a total value of $816,122.13.

Sleep Number Stock Down 0.8 %

NASDAQ SNBR opened at $11.67 on Thursday. Sleep Number Co. has a 52 week low of $8.13 and a 52 week high of $20.75. The firm has a 50 day moving average of $15.46 and a two-hundred day moving average of $13.63. The stock has a market capitalization of $261.06 million, a PE ratio of -6.50 and a beta of 2.08.

Hedge Funds Weigh In On Sleep Number

Several large investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in Sleep Number during the 2nd quarter worth about $43,000. GAMMA Investing LLC lifted its stake in 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 during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Sleep Number in the first quarter valued at approximately $149,000. SG Americas Securities LLC purchased a new position in Sleep Number in the third quarter valued at approximately $210,000. Finally, PDT Partners LLC acquired a new stake in Sleep Number during the third quarter worth approximately $241,000. Hedge funds and other institutional investors own 85.67% of the company’s stock.

Wall Street Analyst Weigh In

SNBR has been the topic of a number of research reports. Piper Sandler reduced 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. StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a report on Tuesday.

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.