Maverick Capital Ltd. Acquires 30,341 Shares of Sleep Number Co. (NASDAQ:SNBR)

Maverick Capital Ltd. increased its holdings in shares of Sleep Number Co. (NASDAQ:SNBR) by 150.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 50,477 shares of the company’s stock after buying an additional 30,341 shares during the period. Maverick Capital Ltd.’s holdings in Sleep Number were worth $925,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Sleep Number by 5.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,122 shares of the company’s stock worth $323,000 after buying an additional 1,052 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Sleep Number by 4.3% in the second quarter. SummerHaven Investment Management LLC now owns 25,694 shares of the company’s stock worth $246,000 after buying an additional 1,071 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of 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 buying an additional 69,133 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Sleep Number by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 85,776 shares of the company’s stock worth $821,000 after buying an additional 5,550 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Sleep Number by 9.8% in the second quarter. Rhumbline Advisers now owns 37,659 shares of the company’s stock worth $360,000 after buying an additional 3,350 shares in the last quarter. Institutional investors own 85.67% of the company’s stock.

Insider Activity

In other Sleep Number news, major shareholder Stadium Capital Management Llc bought 36,097 shares of Sleep Number stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $13.09 per share, with a total value of $472,509.73. Following the completion of the acquisition, the insider now owns 2,054,802 shares in the company, valued at approximately $26,897,358.18. This represents a 1.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased 169,373 shares of company stock valued at $2,305,052 over the last three months. Insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Piper Sandler decreased their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 31st.

Sleep Number Stock Down 1.1 %

SNBR opened at $15.00 on Monday. The firm has a 50 day moving average price of $14.86 and a 200-day moving average price of $13.56. Sleep Number Co. has a twelve month low of $8.13 and a twelve month high of $20.75. The stock has a market capitalization of $335.55 million, a price-to-earnings ratio of -8.29 and a beta of 2.08.

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.