Insider Buying: Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Buys $472,509.73 in Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 36,097 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $13.09 per share, for a total transaction of $472,509.73. Following the acquisition, the insider now directly 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 purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

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

Sleep Number Trading Up 5.4 %

NASDAQ SNBR opened at $14.95 on Thursday. The firm has a market cap of $334.21 million, a PE ratio of -8.26 and a beta of 2.08. Sleep Number Co. has a 1-year low of $8.13 and a 1-year high of $20.75. The stock has a 50-day moving average of $15.60 and a 200-day moving average of $13.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SNBR shares. StockNews.com raised Sleep Number from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Piper Sandler lowered their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 31st.

Institutional Trading of Sleep Number

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in Sleep Number during the 2nd quarter valued at $43,000. GAMMA Investing LLC increased its position in shares of Sleep Number by 15.7% in the third 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. XTX Topco Ltd bought a new position in shares of Sleep Number during the second quarter valued at about $128,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Sleep Number during the first quarter worth about $149,000. Finally, Susquehanna Fundamental Investments LLC grew its stake 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 worth $180,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors 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.