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 $7,715,952 were sold by Barry Corie S on Sep 11 ’24. At $96.66 per share, Barry Corie S sold 79,829 shares. The insider’s holdings dropped to 358,241 shares worth approximately $32.03 million following the completion of this transaction.
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Also, Barry Corie S purchased 79,829 shares, netting a total of over 7,715,953 in proceeds.
Before that, Scarlett Kathleen had sold 40,169 shares from its account. In a trade valued at $4,000,732, the SEVP, HR, Corp Affair & Canada traded Best Buy Co. Inc shares for $99.60 each. Upon closing the transaction, the insider’s holdings decreased to 40,169 shares, worth approximately $6.88 million.
As published in a research note from Telsey Advisory Group on August 30, 2024, Best Buy Co. Inc [BBY] has been retained to an Outperform and the price target has been revised to $115. Analysts at UBS upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid June. As of June 03, 2024, Citigroup has increased its “Sell” rating to a “Buy” for BBY. Earlier on May 23, 2024, Telsey Advisory Group downgraded its rating. Their new recommendation was “a Market perform” for BBY stock which previously was a “an Outperform”.
Analyzing BBY Stock Performance
During the last five days, there has been a drop of approximately -1.12%. Over the course of the year, Best Buy Co. Inc shares have jumped approximately 14.21%. Shares of the company reached a 52-week high of $103.71 on 08/29/24 and a 52-week low of $69.29 on 05/23/24. A 50-day SMA is recorded $96.77, while a 200-day SMA reached $84.34. Nevertheless, trading volume fell to 4.75 million shares from 2.26 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 86.81, which, if violated, would cause prices to drop to 84.21. In the upper region, resistance lies at 91.00. The next price resistance is at 92.59. RSI (Relative Strength Index) is 35.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.57, which suggests the price will decrease in the coming days. Percent R is at 67.24%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
