Wedbush Issues Pessimistic Forecast for Sleep Number (NASDAQ:SNBR) Stock Price

Sleep Number (NASDAQ:SNBR) had its price objective cut by Wedbush from $18.00 to $12.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th.

Sleep Number Stock Down 41.9 %

Shares of SNBR stock opened at $7.49 on Thursday. The company has a market cap of $167.56 million, a P/E ratio of -4.14 and a beta of 2.14. The business has a 50 day moving average of $15.96 and a two-hundred day moving average of $15.73. Sleep Number has a 52 week low of $7.31 and a 52 week high of $20.75.

Institutional Investors Weigh In On Sleep Number

A number of hedge funds have recently made changes to their positions in the business. Hodges Capital Management Inc. grew its holdings 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 buying an additional 229,587 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Sleep Number by 1,071.9% in the third quarter. JPMorgan Chase & Co. now owns 114,229 shares of the company’s stock worth $2,093,000 after purchasing an additional 104,482 shares in the last quarter. Barclays PLC grew its stake in shares of Sleep Number by 276.5% in the third quarter. Barclays PLC now owns 28,280 shares of the company’s stock worth $518,000 after purchasing an additional 20,769 shares in the last quarter. FMR LLC increased its holdings in shares of Sleep Number by 1,764.3% during the third quarter. FMR LLC now owns 21,216 shares of the company’s stock valued at $389,000 after purchasing an additional 20,078 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Sleep Number by 3.6% during the third quarter. Geode Capital Management LLC now owns 518,045 shares of the company’s stock valued at $9,493,000 after purchasing an additional 18,182 shares in the last quarter. Institutional investors own 85.67% of the company’s stock.

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.