Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Best Buy Co. Inc shares valued at $6,048,925 were sold by Bilunas Matthew M on Dec 11 ’24. At $87.46 per share, Bilunas Matthew M sold 69,166 shares. The insider’s holdings dropped to 92,070 shares worth approximately $8.0 million following the completion of this transaction.
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Also, Bilunas Matthew M purchased 69,166 shares, netting a total of over 6,048,928 in proceeds.
Before that, Barry Corie S had sold 79,829 shares from its account. In a trade valued at $7,715,952, the CEO traded Best Buy Co. Inc shares for $96.66 each. Upon closing the transaction, the insider’s holdings decreased to 79,829 shares, worth approximately $31.11 million.
As published in a research note from Telsey Advisory Group on November 27, 2024, Best Buy Co. Inc [BBY] has been retained to an Outperform and the price target has been revised to $110. Analysts at Telsey Advisory Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in late August. As of June 17, 2024, UBS has increased its “Neutral” rating to a “Buy” for BBY. Earlier on June 03, 2024, Citigroup upgraded its rating. Their new recommendation was “a Buy” for BBY stock which previously was a “a Sell”.
Analyzing BBY Stock Performance
During the last five days, there has been a drop of approximately -0.72%. Over the course of the year, Best Buy Co. Inc shares have jumped approximately 10.95%. 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 $90.14, while a 200-day SMA reached $86.46. Nevertheless, trading volume fell to 1.03 million shares from 2.03 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 85.74, which, if violated, would cause prices to drop to 84.62. In the upper region, resistance lies at 87.41. The next price resistance is at 87.96. RSI (Relative Strength Index) is 45.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.24, which suggests the price will decrease in the coming days. Percent R is at 57.97%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
