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

Posted by Stanley Muller on Jun 3rd, 2026

Sleep Number Corporation (NASDAQ:SNBR – Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 3,223 put options on the company. This is an increase of approximately 116% compared to the average daily volume of 1,492 put options.

Sleep Number Price Performance

NASDAQ:SNBR traded down $0.15 during trading hours on Wednesday, hitting $1.12. The company had a trading volume of 1,598,865 shares, compared to its average volume of 1,902,473. The company has a market capitalization of $25.70 million, a PE ratio of -0.15 and a beta of 2.48. The stock has a 50-day moving average price of $2.05 and a 200 day moving average price of $5.70. Sleep Number has a 52 week low of $1.06 and a 52 week high of $13.94.

Sleep Number (NASDAQ:SNBR – Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($2.19) EPS for the quarter, missing the consensus estimate of ($0.39) by ($1.80). The business had revenue of $318.99 million for the quarter, compared to analyst estimates of $320.72 million. Analysts anticipate that Sleep Number will post -0.82 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Stadium Capital Management Llc sold 390,676 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $1.78, for a total value of $695,403.28. Following the transaction, the insider owned 341,515 shares in the company, valued at approximately $607,896.70. This trade represents a 53.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Sleep Number

A number of institutional investors have recently bought and sold shares of SNBR. Royal Bank of Canada grew its holdings in shares of Sleep Number by 20.1% during the 1st quarter. Royal Bank of Canada now owns 355,843 shares of the company’s stock worth $2,256,000 after acquiring an additional 59,510 shares during the period. AQR Capital Management LLC lifted its stake in shares of Sleep Number by 283.3% in the 1st 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. Acadian Asset Management LLC boosted its position in shares of Sleep Number by 1,009.4% during the first quarter. Acadian Asset Management LLC now owns 34,304 shares of the company’s stock valued at $216,000 after purchasing an additional 31,212 shares in the last quarter. Strs Ohio bought a new stake in shares of Sleep Number during the first quarter valued at approximately $130,000. Finally, Geode Capital Management LLC grew its stake in Sleep Number by 1.4% in the second quarter. Geode Capital Management LLC now owns 530,764 shares of the company’s stock worth $3,586,000 after purchasing an additional 7,570 shares during the period. 85.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNBR has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Sleep Number from a “sell” rating to a “strong sell” rating in a report on Sunday, April 19th. Zacks Research downgraded shares of Sleep Number from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 13th. UBS Group dropped their target price on shares of Sleep Number from $4.00 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Piper Sandler reduced their price target on Sleep Number from $12.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Sleep Number currently has a consensus rating of “Reduce” and an average price target of $3.50.

Read Our Latest Analysis on Sleep Number

Sleep Number Company Profile

(Get Free Report)

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.