First Dallas Securities Inc. Grows Stock Holdings in Sleep Number Co. (NASDAQ:SNBR)

First Dallas Securities Inc. grew its stake in shares of Sleep Number Co. (NASDAQ:SNBR) by 40.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,500 shares of the company’s stock after acquiring an additional 12,000 shares during the quarter. First Dallas Securities Inc.’s holdings in Sleep Number were worth $632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC increased 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 acquiring an additional 784 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Sleep Number during the 2nd quarter worth approximately $195,000. SG Americas Securities LLC purchased a new stake in Sleep Number during the third quarter worth approximately $210,000. PDT Partners LLC acquired a new stake in Sleep Number in the 3rd quarter valued at $241,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Sleep Number in the third quarter valued at about $296,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. 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.

Insider Buying and Selling

In other Sleep Number news, major shareholder Stadium Capital Management Llc purchased 22,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $13.86 per share, with a total value of $304,920.00. Following the acquisition, the insider now owns 2,171,860 shares of the company’s stock, valued at approximately $30,101,979.60. This represents a 1.02 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders have bought 74,265 shares of company stock worth $1,016,420 over the last ninety days. 6.80% of the stock is owned by insiders.

Sleep Number Stock Performance

NASDAQ:SNBR opened at $16.95 on Tuesday. The stock has a 50-day simple moving average of $16.80 and a 200 day simple moving average of $15.12. Sleep Number Co. has a one year low of $8.13 and a one year high of $20.75. The company has a market capitalization of $379.17 million, a price-to-earnings ratio of -9.36 and a beta of 2.08.

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.