Wedbush Cuts Sleep Number (NASDAQ:SNBR) Price Target to $12.00

Sleep Number (NASDAQ:SNBR) had its price objective cut by analysts at Wedbush from $18.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price objective points to a potential downside of 6.90% from the company’s previous close.

Separately, StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th.

Sleep Number Price Performance

SNBR opened at $12.89 on Thursday. The firm has a market cap of $288.36 million, a P/E ratio of -7.12 and a beta of 2.14. Sleep Number has a 1-year low of $8.13 and a 1-year high of $20.75. The company has a 50 day simple moving average of $16.12 and a two-hundred day simple moving average of $15.79.

Hedge Funds Weigh In On Sleep Number

A number of hedge funds and other institutional investors have recently modified their holdings of SNBR. FMR LLC boosted its position in shares of Sleep Number by 1,764.3% during the third quarter. FMR LLC now owns 21,216 shares of the company’s stock worth $389,000 after acquiring an additional 20,078 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Sleep Number by 32.3% during the third quarter. BNP Paribas Financial Markets now owns 90,170 shares of the company’s stock valued at $1,652,000 after purchasing an additional 22,022 shares during the last quarter. PDT Partners LLC bought a new position in Sleep Number during the third quarter valued at $241,000. Maverick Capital Ltd. lifted its position in Sleep Number by 150.7% during the third quarter. Maverick Capital Ltd. now owns 50,477 shares of the company’s stock valued at $925,000 after purchasing an additional 30,341 shares during the last quarter. Finally, RBF Capital LLC bought a new position in Sleep Number during the third quarter valued at $458,000. 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.