Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Stadium Capital Management Llc Purchases 11,540 Shares

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc bought 11,540 shares of the stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $12.71 per share, with a total value of $146,673.40. Following the purchase, the insider now owns 2,200,000 shares in the company, valued at $27,962,000. This trade represents a 0.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, November 18th, Stadium Capital Management Llc bought 15,000 shares of Sleep Number stock. The stock was bought at an average cost of $12.12 per share, for a total transaction of $181,800.00.
• On Wednesday, November 13th, Stadium Capital Management Llc purchased 22,000 shares of Sleep Number stock. The stock was bought at an average cost of $13.86 per share, with a total value of $304,920.00.
• On Monday, November 11th, Stadium Capital Management Llc acquired 25,325 shares of Sleep Number stock. The shares were purchased at an average cost of $14.90 per share, for a total transaction of $377,342.50.
• On Wednesday, November 6th, Stadium Capital Management Llc bought 400 shares of Sleep Number stock. The stock was purchased at an average price of $14.21 per share, for a total transaction of $5,684.00.
• On Monday, November 4th, Stadium Capital Management Llc purchased 36,097 shares of Sleep Number stock. The shares were purchased at an average cost of $13.09 per share, with a total value of $472,509.73.
• On Thursday, October 31st, Stadium Capital Management Llc acquired 59,011 shares of Sleep Number stock. The stock was acquired at an average cost of $13.83 per share, for a total transaction of $816,122.13.

Sleep Number Price Performance

NASDAQ SNBR opened at $12.18 on Tuesday. Sleep Number Co. has a 1-year low of $8.13 and a 1-year high of $20.75. The stock has a market capitalization of $272.48 million, a price-to-earnings ratio of -6.73 and a beta of 2.08. The business’s fifty day moving average price is $15.55 and its 200-day moving average price is $13.65.

Analyst Ratings Changes

Several research analysts have recently weighed in on SNBR shares. Piper Sandler decreased their price target on Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a research note on Tuesday.

Institutional Investors Weigh In On Sleep Number

A number of large investors have recently made changes to their positions in SNBR. Stadium Capital Management LLC lifted its stake in shares of Sleep Number by 8.8% in the 3rd quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock worth $36,793,000 after purchasing an additional 162,164 shares during the period. Hodges Capital Management Inc. increased its holdings in Sleep Number by 146.6% during the third quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock valued at $18,520,000 after buying an additional 601,005 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. raised its position in Sleep Number by 7.7% in 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 acquiring an additional 69,133 shares during the period. Geode Capital Management LLC boosted its stake in shares of Sleep Number by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 518,045 shares of the company’s stock worth $9,493,000 after acquiring an additional 18,182 shares during the last quarter. Finally, State Street Corp grew its position in shares of Sleep Number by 0.6% during the 3rd quarter. State Street Corp now owns 440,547 shares of the company’s stock valued at $8,071,000 after acquiring an additional 2,472 shares during the period. 85.67% of the stock is currently owned by institutional investors.

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.