Best Buy Co. Inc.’s filing revealed that its Chairman Emeritus SCHULZE RICHARD M unloaded Company’s shares for reported $27.74 million on Jul 23 ’24. In the deal valued at $89.05 per share,311,458 shares were sold. As a result of this transaction, SCHULZE RICHARD M now holds 13,691,395 shares worth roughly $1.16 billion.
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Then, SCHULZE RICHARD M sold 88,542 shares, generating $7,814,183 in total proceeds. Upon selling the shares at $88.25, the Chairman Emeritus now owns 13,602,853 shares.
Before that, SCHULZE RICHARD M sold 691,328 shares. Best Buy Co. Inc. shares valued at $61,156,447 were divested by the Chairman Emeritus at a price of $88.46 per share. As a result of the transaction, SCHULZE RICHARD M now holds 14,911,525 shares, worth roughly $1.27 billion.
UBS upgraded its Best Buy Co. Inc. [BBY] rating to a Buy from a a Neutral in a research note published on June 17, 2024; the price target was increased to $106 from $85. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in early June from “a Sell” to “a Buy”. Telsey Advisory Group also remained covering BBY and has decreased its forecast on May 23, 2024 with a “Market perform” recommendation from previously “an Outperform” rating. Jefferies maintained its rating on April 08, 2024. It rated BBY as “a Buy”.
Price Performance Review of BBY
On Monday, Best Buy Co. Inc. [NYSE:BBY] saw its stock fall -0.23% to $85.04. Over the last five days, the stock has gained 4.73%. Best Buy Co. Inc. shares have risen nearly 8.64% since the year began. Nevertheless, the stocks have risen 9.42% over the past one year. While a 52-week high of $93.72 was reached on 06/18/24, a 52-week low of $62.30 was recorded on 05/23/24. SMA at 50 days reached $85.88, while 200 days put it at $77.73.
Levels Of Support And Resistance For BBY Stock
The 24-hour chart illustrates a support level at 84.26, which if violated will result in even more drops to 83.49. On the upside, there is a resistance level at 85.85. A further resistance level may holdings at 86.67. The Relative Strength Index (RSI) on the 14-day chart is 52.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.54, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 26.67%. Stochastics%K at 69.63% indicates the stock is a holding.
How much short interest is there in Best Buy Co. Inc.?
A steep rise in short interest was recorded in Best Buy Co. Inc. stocks on 2024-07-31, dropping by -0.13 million shares to a total of 13.57 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 13.7 million shares. There was a decline of -0.95%, which implies that there is a negative sentiment for the stock.
