Sleep Number (NASDAQ:SNBR) Given New $12.00 Price Target at Piper Sandler

Sleep Number (NASDAQ:SNBRGet Free Report) had its price objective dropped by investment analysts at Piper Sandler from $16.00 to $12.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 0.76% from the company’s previous close.

Separately, StockNews.com cut Sleep Number from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Check Out Our Latest Stock Analysis on Sleep Number

Sleep Number Stock Performance

Shares of SNBR opened at $11.91 on Thursday. Sleep Number has a 1 year low of $8.13 and a 1 year high of $20.75. The stock has a market capitalization of $265.90 million, a PE ratio of -8.34 and a beta of 2.06. The stock has a 50-day simple moving average of $15.67 and a 200-day simple moving average of $13.61.

Sleep Number (NASDAQ:SNBRGet Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.22. The firm had revenue of $408.40 million during the quarter, compared to analysts’ expectations of $415.05 million. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. Analysts predict that Sleep Number will post -0.13 EPS for the current year.

Insiders Place Their Bets

In related news, Director Stephen E. Macadam bought 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of $12.35 per share, with a total value of $531,050.00. Following the transaction, the director now directly owns 102,729 shares of the company’s stock, valued at approximately $1,268,703.15. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNBR. Van Lanschot Kempen Investment Management N.V. boosted its stake in shares of Sleep Number by 7.7% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 968,810 shares of the company’s stock worth $9,272,000 after buying an additional 69,133 shares during the period. Hodges Capital Management Inc. increased its position in Sleep Number by 138.5% during the 2nd quarter. Hodges Capital Management Inc. now owns 409,915 shares of the company’s stock worth $3,923,000 after purchasing an additional 238,015 shares during the period. Millennium Management LLC raised its position in Sleep Number by 326.7% in the second quarter. Millennium Management LLC now owns 370,987 shares of the company’s stock worth $3,550,000 after acquiring an additional 284,052 shares in the last quarter. SW Investment Management LLC lifted its stake in shares of Sleep Number by 16.7% in the second quarter. SW Investment Management LLC now owns 350,000 shares of the company’s stock valued at $3,350,000 after purchasing an additional 50,000 shares during the period. Finally, Pacific Ridge Capital Partners LLC acquired a new stake in shares of Sleep Number in the 2nd quarter worth approximately $3,342,000. 85.67% of the stock is owned by hedge funds and other institutional investors.

Sleep Number Company Profile

(Get Free Report)

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.

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