Shares of Best Buy Co. (NYSE:BBY) gapped up prior to trading on Thursday . The stock had previously closed at $33.68, but opened at $33.73. Best Buy shares last traded at $34.52, with a volume of 2,286,501 shares trading hands.

A number of analysts have commented on the stock. Vetr downgraded shares of Best Buy from a “hold” rating to a “sell” rating and set a $33.48 price objective for the company. in a report on Monday. BTIG Research reiterated a “buy” rating on shares of Best Buy in a report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of Best Buy from a “buy” rating to a “sell” rating in a report on Tuesday, July 26th. Morgan Stanley reiterated a “buy” rating and issued a $28.00 price objective on shares of Best Buy in a report on Wednesday, July 6th. Finally, Deutsche Bank AG restated a “buy” rating and set a $32.00 price target on shares of Best Buy in a report on Tuesday, June 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $34.23.

The company has a market cap of $11.25 billion and a PE ratio of 11.99. The company has a 50 day moving average of $32.17 and a 200 day moving average of $31.49.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, May 24th. The technology retailer reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The business had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Best Buy’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts predict that Best Buy Co. will post $2.89 earnings per share for the current fiscal year.

In other news, CEO Hubert Joly sold 398,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $32.24, for a total value of $12,831,520.00. Following the completion of the transaction, the chief executive officer now directly owns 511,139 shares in the company, valued at $16,479,121.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mathew Watson sold 1,363 shares of the company’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $32.10, for a total transaction of $43,752.30. Following the completion of the transaction, the chief accounting officer now owns 20,668 shares of the company’s stock, valued at $663,442.80. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently made changes to their positions in BBY. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of Best Buy by 5.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 42,022 shares of the technology retailer’s stock valued at $1,280,000 after buying an additional 2,303 shares during the period. Flippin Bruce & Porter Inc. increased its position in shares of Best Buy by 2.1% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 144,370 shares of the technology retailer’s stock valued at $4,396,000 after buying an additional 3,021 shares during the period. Victory Capital Management Inc. increased its position in shares of Best Buy by 33.8% in the fourth quarter. Victory Capital Management Inc. now owns 38,291 shares of the technology retailer’s stock valued at $1,166,000 after buying an additional 9,674 shares during the period. American International Group Inc. increased its position in shares of Best Buy by 9.0% in the fourth quarter. American International Group Inc. now owns 157,106 shares of the technology retailer’s stock valued at $4,783,000 after buying an additional 12,954 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Best Buy by 251.0% in the fourth quarter. Advisors Asset Management Inc. now owns 42,778 shares of the technology retailer’s stock valued at $1,303,000 after buying an additional 30,590 shares during the period.

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers service to the consumers, small business owners and educators, who visit its stores, engage with Geek Squad agents or use its Websites or mobile applications. It has retail and online operations in the United States, Canada and Mexico.

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