Shares of Sotheby’s (NYSE:BID) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.14 and last traded at $40.85, with a volume of 607,817 shares. The stock had previously closed at $39.89.

Several analysts have issued reports on BID shares. TheStreet upgraded shares of Sotheby’s from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Zacks Investment Research upgraded shares of Sotheby’s from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.20.

The company has a market cap of $2.24 billion and a PE ratio of 78.36. The firm’s 50 day moving average is $30.69 and its 200-day moving average is $27.65.

Sotheby’s (NYSE:BID) last announced its earnings results on Monday, August 8th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.46. The business had revenue of $298.67 million for the quarter, compared to the consensus estimate of $291.22 million. During the same quarter last year, the firm posted $1.04 earnings per share. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. On average, equities analysts expect that Sotheby’s will post $2.24 earnings per share for the current year.

In other Sotheby’s news, Director Dennis M. Weibling bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was bought at an average cost of $28.03 per share, for a total transaction of $56,060.00. Following the completion of the transaction, the director now owns 77,000 shares of the company’s stock, valued at approximately $2,158,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis M. Weibling bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The shares were acquired at an average price of $27.89 per share, with a total value of $111,560.00. Following the completion of the transaction, the director now directly owns 79,000 shares of the company’s stock, valued at approximately $2,203,310. The disclosure for this purchase can be found here.

A hedge fund recently raised its stake in Sotheby’s stock. California Public Employees Retirement System raised its stake in shares of Sotheby’s (NYSE:BID) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,700 shares of the company’s stock after buying an additional 13,700 shares during the period. California Public Employees Retirement System owned about 0.25% of Sotheby’s worth $4,320,000 at the end of the most recent reporting period.

Sotheby’s is a global art business company. The Company operates in two segments: Agency and Finance. The Agency segment earns commissions by matching buyers and sellers of authenticated fine art, decorative art, jewelry, wine and collectibles (collectively, art or works of art or artwork or property) through the auction or private sale process.

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