Sleep Number Corp (NASDAQ:SNBR) was the recipient of unusually large options trading on Thursday. Stock investors bought 5,136 put options on the stock. This represents an increase of 5,364% compared to the typical volume of 94 put options.

Several brokerages have issued reports on SNBR. BidaskClub cut Sleep Number from a “strong-buy” rating to a “buy” rating in a report on Tuesday. ValuEngine cut Sleep Number from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded Sleep Number from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Wednesday, September 26th. TheStreet cut Sleep Number from a “b-” rating to a “c” rating in a report on Thursday, July 26th. Finally, Stifel Nicolaus dropped their target price on Sleep Number from $47.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Sleep Number currently has a consensus rating of “Hold” and a consensus target price of $35.25.

In other Sleep Number news, SVP Joseph Hunter Saklad sold 7,912 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $31.05, for a total value of $245,667.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David R. Callen bought 1,000 shares of the company’s stock in a transaction on Monday, July 30th. The stock was bought at an average price of $27.88 per share, with a total value of $27,880.00. The disclosure for this purchase can be found here. 4.30% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Riverhead Capital Management LLC lifted its stake in shares of Sleep Number by 36.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,384 shares of the company’s stock valued at $185,000 after purchasing an additional 1,700 shares during the last quarter. Tyers Asset Management LLC lifted its stake in shares of Sleep Number by 37.6% in the 2nd quarter. Tyers Asset Management LLC now owns 6,972 shares of the company’s stock valued at $202,000 after purchasing an additional 1,904 shares during the last quarter. Flinton Capital Management LLC lifted its stake in shares of Sleep Number by 37.6% in the 2nd quarter. Flinton Capital Management LLC now owns 8,466 shares of the company’s stock valued at $246,000 after purchasing an additional 2,312 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Sleep Number by 0.6% in the 1st quarter. Northern Trust Corp now owns 538,998 shares of the company’s stock valued at $18,945,000 after purchasing an additional 3,385 shares during the last quarter. Finally, Balter Liquid Alternatives LLC lifted its stake in shares of Sleep Number by 9.9% in the 2nd quarter. Balter Liquid Alternatives LLC now owns 38,246 shares of the company’s stock valued at $1,142,000 after purchasing an additional 3,454 shares during the last quarter.

Shares of NASDAQ:SNBR opened at $32.40 on Friday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 1.10 and a beta of 1.15. Sleep Number has a 52-week low of $26.22 and a 52-week high of $40.72.

Sleep Number (NASDAQ:SNBR) last issued its earnings results on Wednesday, July 25th. The company reported $0.02 earnings per share (EPS) for the quarter. Sleep Number had a return on equity of 115.80% and a net margin of 4.47%. The company had revenue of $316.34 million during the quarter, compared to analysts’ expectations of $314.81 million. During the same period in the prior year, the business earned ($0.02) EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Sleep Number will post 1.81 earnings per share for the current year.

About Sleep Number

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows and sheets, as well as other bedding products, including mattresses, box springs, and foundations under the Sleep Number name.

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