Sleep Number Co. (NASDAQ:SNBR) Short Interest Update

Sleep Number Co. (NASDAQ:SNBR) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 2,060,000 shares, a decline of 13.8% from the February 28th total of 2,390,000 shares. Based on an average daily trading volume, of 515,700 shares, the short-interest ratio is presently 4.0 days. Currently, 9.9% of the company’s shares are sold short.

Insider Buying and Selling

In other Sleep Number news, insider Gary T. Fazio bought 12,000 shares of the stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $7.54 per share, with a total value of $90,480.00. Following the acquisition, the insider now owns 71,125 shares of the company’s stock, valued at approximately $536,282.50. The trade was a 20.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sleep Number

Several large investors have recently modified their holdings of SNBR. FMR LLC grew its position in shares of Sleep Number by 1,764.3% in the 3rd quarter. FMR LLC now owns 21,216 shares of the company’s stock valued at $389,000 after purchasing an additional 20,078 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Sleep Number by 32.3% in the third quarter. BNP Paribas Financial Markets now owns 90,170 shares of the company’s stock valued at $1,652,000 after buying an additional 22,022 shares during the period. PDT Partners LLC bought a new stake in shares of Sleep Number during the third quarter worth $241,000. RBF Capital LLC acquired a new stake in shares of Sleep Number during the third quarter worth $458,000. Finally, State Street Corp lifted its position in Sleep Number by 0.6% in 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 in the last quarter. 85.67% of the stock is currently owned by institutional investors.

Sleep Number Stock Up 0.3 %

SNBR opened at $6.88 on Thursday. The company has a fifty day simple moving average of $12.57 and a 200 day simple moving average of $14.70. The stock has a market cap of $154.04 million, a P/E ratio of -3.80 and a beta of 2.07. Sleep Number has a 12 month low of $5.94 and a 12 month high of $20.75.

Wall Street Analysts Forecast Growth

SNBR has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on Sleep Number from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Wedbush decreased their target price on Sleep Number from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, 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 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.