Comerica Bank Increases Stock Holdings in Sleep Number Co. (NASDAQ:SNBR)

Comerica Bank lifted its stake in shares of Sleep Number Co. (NASDAQ:SNBRGet Rating) by 57.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,270 shares of the company’s stock after purchasing an additional 11,022 shares during the quarter. Comerica Bank’s holdings in Sleep Number were worth $1,558,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. CWM LLC raised its position in Sleep Number by 164.8% during the 1st quarter. CWM LLC now owns 511 shares of the company’s stock worth $26,000 after buying an additional 318 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Sleep Number by 13.0% during the fourth quarter. Teacher Retirement System of Texas now owns 4,621 shares of the company’s stock worth $354,000 after purchasing an additional 533 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in Sleep Number in the fourth quarter valued at about $42,000. Virginia Retirement Systems ET AL boosted its holdings in Sleep Number by 5.7% in the 4th quarter. Virginia Retirement Systems ET AL now owns 11,100 shares of the company’s stock valued at $850,000 after purchasing an additional 600 shares in the last quarter. Finally, CNA Financial Corp increased its position in Sleep Number by 7.0% during the 4th quarter. CNA Financial Corp now owns 10,980 shares of the company’s stock worth $841,000 after purchasing an additional 720 shares during the period. 98.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wedbush decreased their price target on Sleep Number from $80.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, March 28th. Piper Sandler lowered their price target on shares of Sleep Number from $49.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 14th. Bank of America cut their price target on shares of Sleep Number from $55.00 to $45.00 and set an “underperform” rating for the company in a report on Monday, April 18th. Finally, StockNews.com assumed coverage on shares of Sleep Number in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.00.

Sleep Number Stock Performance

SNBR opened at $37.51 on Tuesday. Sleep Number Co. has a one year low of $29.68 and a one year high of $105.98. The company has a market cap of $833.92 million, a price-to-earnings ratio of 10.25, a PEG ratio of 0.62 and a beta of 1.82. The business’s fifty day moving average is $37.14 and its two-hundred day moving average is $51.82.

About Sleep Number

(Get Rating)

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 adjustable bases under the FlextFit, and smart beds under the Sleep Number 360 brands.

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Institutional Ownership by Quarter for Sleep Number (NASDAQ:SNBR)

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