The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Best Buy Co. Inc. shares valued at $290,154 were sold by Watson Mathew on Apr 09 ’24. At $82.43 per share, Watson Mathew sold 3,520 shares. The insider’s holdings dropped to 22,118 shares worth approximately $1.69 million following the completion of this transaction.
Also, Barry Corie S sold 28,042 shares, netting a total of over 2,293,695 in proceeds. Following the sale of shares at $81.80 each, the insider now holds 429,159 shares.
Before that, Bilunas Matthew M had sold 8,258 shares from its account. In a trade valued at $675,463, the SEVP Enterprise Strategy & CFO traded Best Buy Co. Inc. shares for $81.80 each. Upon closing the transaction, the insider’s holdings decreased to 8,258 shares, worth approximately $6.91 million.
As published in a research note from Jefferies on April 08, 2024, Best Buy Co. Inc. [BBY] has been retained to a Buy and the price target has been revised to $94. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in late March. As of March 20, 2024, Telsey Advisory Group has increased its “Market perform” rating to a “an Outperform” for BBY. Earlier on March 01, 2024, Telsey Advisory Group resumed its rating. Their recommendation was “a Market perform” for BBY stock.
Analyzing BBY Stock Performance
During the last five days, there has been a drop of approximately -4.58%. Over the course of the year, Best Buy Co. Inc. shares have dropped approximately -2.62%. Shares of the company reached a 52-week high of $86.11 on 02/29/24 and a 52-week low of $69.66 on 01/19/24. A 50-day SMA is recorded $77.83, while a 200-day SMA reached $74.88. Nevertheless, trading volume fell to 2.31 million shares from 3.94 million shares the previous day.
Support And Resistance Levels for Best Buy Co. Inc. (BBY)
According to the 24-hour chart, there is a support level at 75.48, which, if violated, would cause prices to drop to 74.74. In the upper region, resistance lies at 76.83. The next price resistance is at 77.44. RSI (Relative Strength Index) is 42.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.39, which suggests the price will decrease in the coming days. Percent R is at 86.99%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
