Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Stadium Capital Management Llc Purchases 15,000 Shares

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc acquired 15,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was bought at an average price of $12.12 per share, with a total value of $181,800.00. Following the completion of the acquisition, the insider now directly owns 2,215,000 shares in the company, valued at approximately $26,845,800. This represents a 0.68 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more 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 purchased 11,540 shares of Sleep Number stock. The shares were bought at an average price of $12.71 per share, for a total transaction of $146,673.40.
• On Wednesday, November 13th, Stadium Capital Management Llc acquired 22,000 shares of Sleep Number stock. The shares were purchased 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 bought 25,325 shares of Sleep Number stock. The stock was purchased 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 purchased 400 shares of Sleep Number stock. The stock was 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 acquired 36,097 shares of Sleep Number stock. The shares were purchased 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 stock was acquired at an average price of $13.83 per share, with a total value of $816,122.13.

Sleep Number Stock Performance

Shares of SNBR stock opened at $12.18 on Tuesday. The company’s 50-day moving average is $15.55 and its 200 day moving average is $13.65. The company has a market capitalization of $272.48 million, a price-to-earnings ratio of -6.73 and a beta of 2.08. Sleep Number Co. has a one year low of $8.13 and a one year high of $20.75.

Analysts Set New Price Targets

Several research firms recently commented on SNBR. Piper Sandler dropped their price objective 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 raised Sleep Number from a “hold” rating to a “buy” rating in a research report on Tuesday.

Institutional Investors Weigh In On Sleep Number

Several institutional investors and hedge funds have recently made changes to their positions in SNBR. Quarry LP bought a new stake in shares of Sleep Number in the 2nd quarter worth $43,000. GAMMA Investing LLC boosted its position in shares of Sleep Number by 15.7% during the third quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after buying an additional 784 shares during the last quarter. XTX Topco Ltd bought a new stake in Sleep Number in the 2nd quarter worth about $128,000. State Board of Administration of Florida Retirement System purchased a new position in Sleep Number in the 1st quarter worth about $149,000. Finally, Susquehanna Fundamental Investments LLC lifted 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 valued at $180,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 85.67% of the company’s stock.

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.