Sleep Number (NASDAQ:SNBR) Price Target Raised to $16.00 at Piper Sandler

by · The Markets Daily

Sleep Number (NASDAQ:SNBR – Free Report) had its target price upped by Piper Sandler from $12.00 to $16.00 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, StockNews.com downgraded shares of Sleep Number from a buy rating to a hold rating in a research report on Friday, August 9th.

Read Our Latest Report on Sleep Number

Sleep Number Stock Down 8.7 %

Shares of SNBR opened at $17.36 on Tuesday. The company has a 50 day moving average of $13.35 and a two-hundred day moving average of $13.42. The company has a market cap of $387.58 million, a price-to-earnings ratio of -11.42 and a beta of 2.04. Sleep Number has a twelve month low of $8.13 and a twelve month high of $25.29.

Sleep Number (NASDAQ:SNBR – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.22. The business had revenue of $408.40 million during the quarter, compared to analysts’ expectations of $415.05 million. During the same quarter last year, the business posted $0.03 earnings per share. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, sell-side analysts expect that Sleep Number will post -0.13 EPS for the current year.

Insider Buying and Selling at Sleep Number

In other news, Director Stephen E. Macadam bought 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $12.35 per share, with a total value of $531,050.00. Following the completion of the acquisition, the director now directly owns 102,729 shares of the company’s stock, valued at approximately $1,268,703.15. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Sleep Number by 5.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,122 shares of the company’s stock worth $323,000 after purchasing an additional 1,052 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of Sleep Number by 4.3% in the second quarter. SummerHaven Investment Management LLC now owns 25,694 shares of the company’s stock worth $246,000 after buying an additional 1,071 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in Sleep Number by 6.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after acquiring an additional 1,100 shares during the period. Maverick Capital Ltd. raised its position in Sleep Number by 17.4% during the second quarter. Maverick Capital Ltd. now owns 20,136 shares of the company’s stock valued at $193,000 after acquiring an additional 2,980 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Sleep Number by 250.6% in the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock valued at $68,000 after acquiring an additional 3,027 shares during the period. Hedge funds and other institutional investors own 85.67% of the company’s stock.

About Sleep Number

(Get Free Report)

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.

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