Sleep Number (NASDAQ:SNBR) Price Target Cut to $12.00 by Analysts at Piper Sandler

Sleep Number (NASDAQ:SNBR) had its price objective reduced by Piper Sandler from $13.00 to $12.00 in a research report sent to investors on Thursday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on SNBR. Wedbush reiterated a neutral rating and issued a $13.50 price target on shares of Sleep Number in a research note on Thursday, April 25th. UBS Group upped their target price on shares of Sleep Number from $12.00 to $13.00 and gave the stock a neutral rating in a research report on Thursday, April 25th.

Sleep Number Stock Performance

Shares of NASDAQ:SNBR traded down $2.20 during midday trading on Thursday, hitting $11.95. The company’s stock had a trading volume of 633,320 shares, compared to its average volume of 554,415. Sleep Number has a 12-month low of $8.13 and a 12-month high of $31.23. The company has a market cap of $266.84 million, a P/E ratio of -8.43 and a beta of 2.04. The business’s 50 day simple moving average is $11.50 and its 200 day simple moving average is $12.78.

Institutional Investors Weigh In On Sleep Number

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Boulder Hill Capital Management LP acquired a new position in shares of Sleep Number during the 4th quarter worth $758,000. Charles Schwab Investment Management Inc. raised its position in Sleep Number by 29.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock valued at $11,896,000 after purchasing an additional 184,038 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC raised its position in Sleep Number by 105.5% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 117,397 shares of the company’s stock worth $1,741,000 after purchasing an additional 60,280 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Sleep Number by 37.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,433 shares of the company’s stock worth $490,000 after buying an additional 8,779 shares during the period. Finally, Hodges Capital Management Inc. boosted its stake in Sleep Number by 4.7% during the 1st quarter. Hodges Capital Management Inc. now owns 171,900 shares of the company’s stock worth $2,755,000 after acquiring an additional 7,700 shares during the last quarter. Institutional investors and hedge funds 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.