Sleep Number (SNBR) Lowered to Hold at BidaskClub

BidaskClub cut shares of Sleep Number (NASDAQ:SNBR) from a buy rating to a hold rating in a report released on Monday.

SNBR has been the topic of several other reports. Piper Jaffray Companies set a $38.00 price objective on Sleep Number and gave the company a buy rating in a research report on Wednesday, October 11th. Bank of America set a $33.00 price objective on Sleep Number and gave the company a hold rating in a research report on Wednesday, October 18th. Zacks Investment Research cut Sleep Number from a hold rating to a sell rating in a research report on Thursday, November 2nd. Finally, ValuEngine raised Sleep Number from a hold rating to a buy rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $32.43.

Sleep Number (NASDAQ SNBR) opened at $35.00 on Monday. The stock has a market capitalization of $1,421.14, a P/E ratio of 24.82, a P/E/G ratio of 0.94 and a beta of 0.74. Sleep Number has a 12-month low of $19.64 and a 12-month high of $40.72.

In other news, SVP Mark A. Kimball sold 8,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.26, for a total transaction of $298,080.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Patricia Ann Dirks sold 8,560 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $33.90, for a total value of $290,184.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,560 shares of company stock worth $1,174,984 over the last three months. Insiders own 4.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in shares of Sleep Number during the 4th quarter valued at $1,124,000. Wells Fargo & Company MN bought a new position in shares of Sleep Number during the 4th quarter valued at $2,833,000. First Trust Advisors LP bought a new position in shares of Sleep Number during the 4th quarter valued at $1,651,000. Sei Investments Co. bought a new position in shares of Sleep Number during the 4th quarter valued at $7,000,000. Finally, Mckinley Capital Management LLC Delaware bought a new position in shares of Sleep Number during the 4th quarter valued at $3,609,000.

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About Sleep Number

Sleep Number Corporation, formerly Select Comfort Corporation, is a designer, manufacturer, marketer, retailer and servicer of a line of Sleep Number beds. The Company offers consumers individualized sleep solutions and services, which include a complete line of Sleep Number beds, bases and bedding accessories.

Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

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