Best Buy Stock Soars as Upward Trend Persists

After this evening's 4.6% surge to $91.26 per share, Best Buy might just keep moving past its target price of $87.58. With an average analyst rating of hold, and target prices from $70.0 to $100.0, the stock's next move is anyone's guess.

Best Buy has an average level of shares sold short, at 9.3% of its total share float. The stock's short ratio (also called days to cover) is 6.9. The company's insiders own 8.78% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Institutional investors own 85.3% of Best Buy's shares, which indicates they have a high level of confidence in the company.

Institutions Invested in Best Buy

Date Reported Holder Percentage Shares Value
2024-03-31 Blackrock Inc. 12% 24,815,012 $2,264,618,048
2024-03-31 Vanguard Group Inc 10% 22,349,234 $2,039,591,142
2024-03-31 State Street Corporation 6% 13,788,807 $1,258,366,556
2024-03-31 JP Morgan Chase & Company 5% 11,539,816 $1,053,123,632
2024-03-31 Charles Schwab Investment Management, Inc. 3% 5,874,720 $536,126,959
2024-03-31 Invesco Ltd. 2% 4,654,870 $424,803,446
2024-03-31 Geode Capital Management, LLC 2% 4,602,564 $420,030,000
2024-03-31 Amundi 2% 4,589,092 $418,800,545
2024-03-31 Morgan Stanley 1% 3,004,598 $274,199,619
2024-03-31 Raymond James & Associates, Inc. 1% 2,886,962 $263,464,158
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.