Sleep Number Corporation $SNBR Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its position in shares of Sleep Number Corporation (NASDAQ:SNBR) by 123.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 173,341 shares of the company’s stock after buying an additional 95,683 shares during the period. Allianz Asset Management GmbH owned 0.76% of Sleep Number worth $1,217,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. SG Capital Management LLC acquired a new position in Sleep Number in the 2nd quarter valued at $2,145,000. AQR Capital Management LLC grew its position in shares of Sleep Number by 283.3% in the first quarter. AQR Capital Management LLC now owns 403,061 shares of the company’s stock valued at $2,555,000 after purchasing an additional 297,916 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Sleep Number by 1,103.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 143,781 shares of the company’s stock valued at $971,000 after purchasing an additional 131,838 shares during the period. Bank of America Corp DE increased its stake in Sleep Number by 28.4% in the second quarter. Bank of America Corp DE now owns 475,623 shares of the company’s stock valued at $3,213,000 after purchasing an additional 105,329 shares during the last quarter. Finally, Mutual Advisors LLC purchased a new position in Sleep Number during the second quarter worth about $459,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number Price Performance

Shares of Sleep Number stock opened at $9.42 on Friday. Sleep Number Corporation has a 1-year low of $3.49 and a 1-year high of $18.67. The company has a market capitalization of $214.68 million, a PE ratio of -2.76 and a beta of 1.89. The business has a 50-day moving average of $9.52 and a 200-day moving average of $8.11.

Analyst Ratings Changes

Several brokerages have recently issued reports on SNBR. Piper Sandler boosted their price objective on shares of Sleep Number from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. UBS Group reiterated a “neutral” rating and issued a $10.00 target price on shares of Sleep Number in a report on Thursday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sleep Number in a research note on Friday, January 9th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sleep Number presently has a consensus rating of “Reduce” and an average price target of $11.33.

About Sleep Number

Sleep Number Corporation (NASDAQ: SNBR) is a Minneapolis‐based company specializing in the design, manufacture and retail of adjustable air mattresses and bedding products. The company’s flagship Sleep Number® bed features dual air chambers that allow each side of the mattress to be tailored to an individual’s preferred firmness, supported by integrated SleepIQ® technology. This proprietary monitoring system tracks biometric data such as heart rate, breathing and motion, delivering personalized sleep insights through a connected app.

Founded in 1987 as Select Comfort, the business pioneered adjustable air mattress technology and has since grown into a direct-to-consumer retailer.