Sleep Number Target of Unusually Large Options Trading (NASDAQ:SNBR)

Sleep Number Corp (NASDAQ:SNBR) was the recipient of unusually large options trading on Wednesday. Traders acquired 771 call options on the stock. This is an increase of approximately 928% compared to the average volume of 75 call options.

A number of analysts have issued reports on SNBR shares. Bank of America downgraded Sleep Number from a “neutral” rating to an “underperform” rating in a research report on Friday, November 3rd. Zacks Investment Research lowered Sleep Number from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. ValuEngine raised Sleep Number from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, BidaskClub lowered Sleep Number from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $32.43.

Shares of Sleep Number (SNBR) traded up $0.17 during trading on Friday, reaching $35.17. The company had a trading volume of 494,371 shares, compared to its average volume of 542,702. Sleep Number has a one year low of $19.64 and a one year high of $40.72. The company has a market cap of $1,400.43, a PE ratio of 22.99, a P/E/G ratio of 0.92 and a beta of 0.74.

In related news, SVP Mark A. Kimball sold 8,000 shares of Sleep Number stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.26, for a total transaction of $298,080.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Patricia Ann Dirks sold 8,560 shares of Sleep Number stock in a transaction on Friday, November 17th. The stock was sold at an average price of $33.90, for a total value of $290,184.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,560 shares of company stock valued at $1,174,984. Corporate insiders own 4.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Dalton Greiner Hartman Maher & Co. purchased a new stake in Sleep Number in the 4th quarter worth $22,295,000. Fuller & Thaler Asset Management Inc. increased its stake in Sleep Number by 40.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 48,625 shares of the company’s stock worth $1,510,000 after buying an additional 13,996 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Sleep Number by 15.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 351,474 shares of the company’s stock worth $10,914,000 after buying an additional 48,344 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Sleep Number by 14.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 413,001 shares of the company’s stock worth $12,824,000 after buying an additional 51,456 shares in the last quarter. Finally, Engineers Gate Manager LP increased its stake in Sleep Number by 1,031.3% in the 3rd quarter. Engineers Gate Manager LP now owns 71,432 shares of the company’s stock worth $2,218,000 after buying an additional 65,118 shares in the last quarter.

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About Sleep Number

Sleep Number Corporation, formerly Select Comfort Corporation, is a designer, manufacturer, marketer, retailer and servicer of a line of Sleep Number beds. The Company offers consumers individualized sleep solutions and services, which include a complete line of Sleep Number beds, bases and bedding accessories.

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