Summit Securities Group LLC Invests $33,000 in Sleep Number Co. (NASDAQ:SNBR)

Summit Securities Group LLC acquired a new stake in shares of Sleep Number Co. (NASDAQ:SNBR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,137 shares of the company’s stock, valued at approximately $33,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Stadium Capital Management LLC boosted its stake in shares of Sleep Number by 8.8% during the 3rd quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock valued at $36,793,000 after buying an additional 162,164 shares during the period. Vanguard Group Inc. grew its stake in Sleep Number by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,254,866 shares of the company’s stock valued at $19,124,000 after purchasing an additional 9,232 shares in the last quarter. Hodges Capital Management Inc. increased its position in Sleep Number by 22.7% in the 4th quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company’s stock worth $18,905,000 after purchasing an additional 229,587 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Sleep Number during the 4th quarter worth about $14,861,000. Finally, Geode Capital Management LLC lifted its holdings 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 valued at $9,493,000 after buying an additional 18,182 shares during the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number Stock Performance

SNBR opened at $6.44 on Monday. Sleep Number Co. has a twelve month low of $6.00 and a twelve month high of $20.75. The business has a 50 day moving average price of $13.22 and a 200 day moving average price of $14.90. The firm has a market cap of $144.19 million, a P/E ratio of -3.56 and a beta of 2.14.

Insider Transactions at Sleep Number

In other news, insider Gary T. Fazio bought 12,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $7.54 per share, for a total transaction of $90,480.00. Following the purchase, the insider now owns 71,125 shares of the company’s stock, valued at $536,282.50. This represents a 20.30 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNBR has been the topic of a number of research reports. Wedbush dropped their price objective on Sleep Number from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Finally, Piper Sandler reduced their price objective on shares of Sleep Number from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th.

Sleep Number 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.