Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Stadium Capital Management Llc Buys 36,097 Shares

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 36,097 shares of Sleep Number stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $13.09 per share, with a total value of $472,509.73. Following the transaction, the insider now owns 2,054,802 shares in the company, valued at approximately $26,897,358.18. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, October 31st, Stadium Capital Management Llc acquired 59,011 shares of Sleep Number stock. The stock was purchased at an average price of $13.83 per share, for a total transaction of $816,122.13.

Sleep Number Price Performance

Shares of Sleep Number stock opened at $14.19 on Wednesday. Sleep Number Co. has a 1-year low of $8.13 and a 1-year high of $20.75. The stock has a market cap of $317.22 million, a P/E ratio of -7.84 and a beta of 2.08. The stock’s 50 day simple moving average is $15.59 and its 200-day simple moving average is $13.62.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Piper Sandler lowered their target price 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.

Hedge Funds Weigh In On Sleep Number

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNBR. Quarry LP purchased a new position in shares of Sleep Number during the 2nd quarter worth $43,000. GAMMA Investing LLC raised 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 period. State Board of Administration of Florida Retirement System acquired a new position in Sleep Number in the 1st quarter valued at about $149,000. SG Americas Securities LLC purchased a new stake in shares of Sleep Number in the 3rd quarter valued at approximately $210,000. Finally, XTX Topco Ltd purchased a new stake in shares of Sleep Number in the 2nd quarter valued at approximately $128,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

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.