Analyzing Market Sentiment for BBY Stock

After this afternoon's -2.1% drop to $90.4 per share, Best Buy might just keep moving past its target price of $88.63. With an average analyst rating of hold, and target prices from $70.0 to $106.0, the stock's next move is anyone's guess.

The stock has an above average percentage of its shares sold short at 9.3%, and a short ratio of 6.9. The company's insiders own 8.79% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 85.3% of Best Buy's shares being owned by this investor type.

Institutions Invested in Best Buy

Date Reported Holder Percentage Shares Value
2024-03-31 Blackrock Inc. 12% 24,815,012 $2,243,277,122
2024-03-31 Vanguard Group Inc 10% 22,349,234 $2,020,370,787
2024-03-31 State Street Corporation 6% 13,788,807 $1,246,508,173
2024-03-31 JP Morgan Chase & Company 5% 11,539,816 $1,043,199,384
2024-03-31 Charles Schwab Investment Management, Inc. 3% 5,874,720 $531,074,696
2024-03-31 Invesco Ltd. 2% 4,654,870 $420,800,255
2024-03-31 Geode Capital Management, LLC 2% 4,602,564 $416,071,792
2024-03-31 Amundi 2% 4,589,092 $414,853,923
2024-03-31 Morgan Stanley 1% 3,004,598 $271,615,663
2024-03-31 Raymond James & Associates, Inc. 1% 2,886,962 $260,981,369

Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Best Buy.

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.