Insider Sell: SEVP Damien Harmon Sells Shares of Best Buy Co Inc (BBY)
Best Buy Co Inc (NYSE:BBY), a leading provider of technology products, services, and solutions, witnessed an insider sell on March 22, 2024. Damien Harmon, the company's Senior Executive Vice President of Customer, Channel Expansion & Enterprise, sold 5,898 shares of the company's stock, according to a recent SEC filing.Damien Harmons transaction history over the past year shows a total of 12,147 shares sold and no shares purchased. This latest transaction continues a trend of insider selling at Best Buy Co Inc, with a total of 28 insider sells and no insider buys over the past year.
On the day of the insider's recent sell, shares of Best Buy Co Inc were trading at $81.8 each, giving the company a market capitalization of $17.39 billion. The price-earnings ratio stood at 14.19, below the industry median of 18.39 but above the company's historical median price-earnings ratio.Considering the stock's valuation, Best Buy Co Inc had a price-to-GF-Value ratio of 1.04, indicating that the stock was Fairly Valued in relation to its GF Value of $78.41. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which factors in historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The insider's decision to sell shares could be interpreted in various ways by investors, but it remains a single data point in the broader context of Best Buy Co Inc's financial health and market performance. Investors often look at insider transactions as one of many indicators to gauge the sentiment of executives and directors about the company's future prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
