Sleep Number (SNBR) Hits New 52-Week High at $44.39

Sleep Number Corp (NASDAQ:SNBR) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $44.39 and last traded at $43.80, with a volume of 19991 shares trading hands. The stock had previously closed at $43.45.

SNBR has been the topic of a number of recent research reports. Zacks Investment Research cut Sleep Number from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. BidaskClub upgraded Sleep Number from a “hold” rating to a “buy” rating in a research note on Friday, January 11th. Barclays initiated coverage on Sleep Number in a research note on Monday, January 28th. They issued an “equal weight” rating and a $36.00 target price on the stock. Piper Jaffray Companies raised their target price on Sleep Number to $43.00 and gave the company a “neutral” rating in a research note on Thursday, February 14th. They noted that the move was a valuation call. Finally, SunTrust Banks raised their target price on Sleep Number to $35.00 and gave the company a “hold” rating in a research note on Thursday, February 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Sleep Number has an average rating of “Hold” and a consensus target price of $37.17.

The company has a market cap of $1.43 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 0.93 and a beta of 1.25.

In related news, EVP Andrew P. Carlin sold 34,190 shares of Sleep Number stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $42.42, for a total transaction of $1,450,339.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Kevin Kennedy Brown sold 3,500 shares of Sleep Number stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $43.41, for a total transaction of $151,935.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,690 shares of company stock worth $4,048,198. Company insiders own 4.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Disciplined Growth Investors Inc. MN raised its stake in shares of Sleep Number by 1.9% during the third quarter. Disciplined Growth Investors Inc. MN now owns 3,651,363 shares of the company’s stock valued at $134,297,000 after purchasing an additional 68,752 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Sleep Number by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,755,694 shares of the company’s stock valued at $55,709,000 after purchasing an additional 6,014 shares in the last quarter. Rothschild & Co. Asset Management US Inc. raised its stake in shares of Sleep Number by 1.5% during the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 923,421 shares of the company’s stock valued at $29,300,000 after purchasing an additional 13,839 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Sleep Number by 53.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 739,871 shares of the company’s stock valued at $23,477,000 after purchasing an additional 259,177 shares in the last quarter. Finally, Man Group plc raised its stake in shares of Sleep Number by 16.6% during the third quarter. Man Group plc now owns 524,328 shares of the company’s stock valued at $19,284,000 after purchasing an additional 74,591 shares in the last quarter.

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Sleep Number Company Profile (NASDAQ:SNBR)

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows and sheets, as well as other bedding products, including mattresses, box springs, and foundations under the Sleep Number name.

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