Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Stadium Capital Management Llc Purchases 22,000 Shares of Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc acquired 22,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $13.86 per share, with a total value of $304,920.00. Following the transaction, the insider now owns 2,171,860 shares in the company, valued at approximately $30,101,979.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more 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 Monday, November 11th, Stadium Capital Management Llc purchased 25,325 shares of Sleep Number stock. The stock was bought 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 bought 400 shares of Sleep Number stock. The shares were purchased at an average price 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 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 price of $13.83 per share, for a total transaction of $816,122.13.

Sleep Number Trading Down 1.9 %

Shares of NASDAQ:SNBR opened at $13.82 on Thursday. Sleep Number Co. has a 12 month low of $8.13 and a 12 month high of $20.75. The company has a market capitalization of $309.17 million, a price-to-earnings ratio of -7.64 and a beta of 2.08. The firm’s 50-day moving average is $15.60 and its 200 day moving average is $13.66.

Analysts Set New Price Targets

SNBR has been the subject of a number of research analyst reports. StockNews.com lowered shares of Sleep Number from a “buy” rating to a “hold” rating in a report on Monday. Piper Sandler reduced their price target on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SNBR. GAMMA Investing LLC increased 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 worth $106,000 after buying an additional 784 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Sleep Number by 5.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,122 shares of the company’s stock worth $323,000 after acquiring an additional 1,052 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Sleep Number by 4.3% during the second quarter. SummerHaven Investment Management LLC now owns 25,694 shares of the company’s stock valued at $246,000 after acquiring an additional 1,071 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in shares of Sleep Number by 6.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock valued at $180,000 after purchasing an additional 1,100 shares during the period. Finally, Maverick Capital Ltd. grew its stake in Sleep Number by 17.4% in the second quarter. Maverick Capital Ltd. now owns 20,136 shares of the company’s stock worth $193,000 after purchasing an additional 2,980 shares in the last quarter. 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.