Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Bed Bath & Beyond Inc. shares valued at $374,375 were sold by Arnal Gustavo on Aug 17. At $29.95 per share, Arnal Gustavo sold 12,500 shares. The insider’s holdings dropped to 255,396 shares worth approximately $1.86 million following the completion of this transaction.
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Also, Arnal Gustavo sold 42,513 shares, netting a total of over 1,029,824 in proceeds. Following the sale of shares at $24.22 each, the insider now holds 267,896 shares.
Before that, Cohen Ryan had sold 5,000,000 shares from its account. In a trade valued at $105,845,055, the 10% Owner traded Bed Bath & Beyond Inc. shares for $21.17 each. Upon closing the transaction, the insider’s holdings decreased to 5,000,000 shares, worth approximately $20.21 million.
As published in a research note from Raymond James on September 01, 2022, Bed Bath & Beyond Inc. [BBBY] has been rated down from a Mkt perform to an Underperform. Analysts at Wedbush downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in mid August. As of August 16, 2022, Odeon has decreased its “Hold” rating to a “Sell” for BBBY. Earlier on August 16, 2022, B. Riley Securities downgraded its rating. Their new recommendation was “a Sell” for BBBY stock which previously was a “a Neutral”.
Analyzing BBBY’s Price Performance
On Wednesday, Bed Bath & Beyond Inc. [NASDAQ: BBBY] plunged -4.34% to $7.27. The stock’s lowest price that day was $7.27, but it reached a high of $7.715 in the same session. During the last five days, there has been a drop of approximately -17.01%. Over the course of the year, Bed Bath & Beyond Inc. shares have dropped approximately -50.14%. Shares of the company reached a 52-week high of $30.06 on 03/07/22 and a 52-week low of $4.38 on 07/01/22. A 50-day SMA is recorded $8.84, while a 200-day SMA reached $12.94. Nevertheless, trading volume fell to 8.68 million shares from 8.7 million shares the previous day.
Support And Resistance Levels for Bed Bath & Beyond Inc. (BBBY)
According to the 24-hour chart, there is a support level at 7.12, which, if violated, would cause prices to drop to 6.97. In the upper region, resistance lies at 7.57. The next price resistance is at 7.86. RSI (Relative Strength Index) is 42.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.61, which suggests the price will decrease in the coming days. Percent R is at 83.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Bed Bath & Beyond Inc. subject to short interest?
Stocks of Bed Bath & Beyond Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.94 million shares to 28.56 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 24.62 million shares. A jump of 13.8% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.12 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.12.
Which companies own the most shares of Bed Bath & Beyond Inc. (BBBY)?
According to BlackRock Fund Advisors filings, the company currently owns 11,654,148 shares, which is about 14.58% of the total BBBY shares outstanding. The investor’s shares have plunged by -2,774,111 from its previous 13-F filing of 14428259.0 shares. With the completion of the sale transaction, Fidelity Management & Research Co’s stake is now worth $79,336,707. The Vanguard Group, Inc. reduced a -22.52% interest valued at $73.73 million while SSgA Funds Management, Inc. sold a -371,421 stake. A total of 2,265,791 shares of Bed Bath & Beyond Inc. were sold by Citadel Advisors LLC during the quarter, and 1,369,659 were bought by Susquehanna Financial Group LLLP. In its current portfolio, Pacific Investment Management Co holds 1,786,530 shares valued at $17.03 million.
In terms of Bed Bath & Beyond Inc. share price expectations, FactSet research, analysts set an average price target of $3.91 in the next 12 months, down nearly -60.53% from the previous closing price of $7.60. Analysts anticipate Bed Bath & Beyond Inc. stock to reach $9.00 by 2022, with the lowest price target being $2.00. In spite of this, 17 analysts ranked Bed Bath & Beyond Inc. stock as an Underweight at the end of 2022. On August 09, 2022, Robert W. Baird assigned a price target of “an Underperform” to the stock and downgraded coverage with a $4.