Sleep Number (NASDAQ:SNBR) Given New $12.00 Price Target at Piper Sandler

Sleep Number (NASDAQ:SNBR) had its price objective trimmed by Piper Sandler from $16.00 to $12.00 in a report issued on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

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

Sleep Number Price Performance

Shares of SNBR traded down $0.15 during trading hours on Thursday, reaching $13.55. 197,393 shares of the company traded hands, compared to its average volume of 510,695. The business has a fifty day moving average price of $15.68 and a 200-day moving average price of $13.61. Sleep Number has a 12-month low of $8.13 and a 12-month high of $20.75.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.22. The firm had revenue of $408.40 million during the quarter, compared to analysts’ expectations of $415.05 million. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, equities research analysts predict that Sleep Number will post -0.13 EPS for the current year.

Insider Activity at Sleep Number

In related news, Director Stephen E. Macadam acquired 43,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were acquired at an average price of $12.35 per share, for a total transaction of $531,050.00. Following the transaction, the director now owns 102,729 shares in the company, valued at approximately $1,268,703.15. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sleep Number

Hedge funds have recently modified their holdings of the company. Rice Hall James & Associates LLC increased its stake in shares of Sleep Number by 3.9% in the 3rd quarter. Rice Hall James & Associates LLC now owns 187,469 shares of the company’s stock valued at $3,434,000 after purchasing an additional 7,080 shares in the last quarter. Tectonic Advisors LLC increased its position in shares of Sleep Number by 77.6% in the third quarter. Tectonic Advisors LLC now owns 76,080 shares of the company’s stock valued at $1,394,000 after buying an additional 33,250 shares in the last quarter. NBC Securities Inc. raised its stake in shares of Sleep Number by 5,000.0% during the 3rd quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock worth $934,000 after buying an additional 50,000 shares during the period. Inspire Investing LLC purchased a new position in shares of Sleep Number during the 3rd quarter valued at approximately $419,000. Finally, GAMMA Investing LLC grew its stake in Sleep Number by 15.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after acquiring an additional 784 shares during the period. 85.67% of the stock is owned by hedge funds and other 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.