Insider transaction details
Matthew M. Bilunas, who serves as Senior Executive Vice President of Enterprise Strategy and Chief Financial Officer at Best Buy Co. Inc. (NASDAQ: BBY), reported the sale of 11,356 shares of the company's common stock on March 23, 2026. The shares were sold at a price of $64.019 per share, producing gross proceeds of $726,999, according to a Form 4 filing with the Securities and Exchange Commission.
Concurrent restricted award
The Form 4 also records that on March 20, 2026, Bilunas received 29,857 shares of Best Buy common stock with a $0.00 purchase price. Those shares are restricted and are scheduled to vest in three equal annual installments, with the first vesting date set for one year from the grant date.
Post-transaction ownership
When both the sale and the restricted grant are accounted for, Bilunas is listed as directly owning 76,884 shares of Best Buy common stock.
Market context and valuation signals
The insider sale coincides with Best Buy trading at $61.71, which is reported to be below InvestingPro's Fair Value estimate, placing the stock among those deemed undervalued by that measure. The company's valuation metrics cited alongside the trade include a price-to-earnings ratio of 12.22 and a dividend yield of 6.09%. Best Buy is noted to have increased its dividend for eight consecutive years.
Recent operating results and analyst responses
Best Buy's fourth-quarter results contained a mix of outcomes: revenue came in below expectations, while operating profits and earnings per share exceeded forecasts. The company attributed the profit beat to improved gross margins and disciplined expense management, according to the summary of results.
Sell-side reactions have been varied. D.A. Davidson reiterated a Buy rating for Best Buy and set a price target of $85, highlighting the contribution of the company's media and membership initiatives to the stronger profitability. Piper Sandler, by contrast, reduced its price target to $68 and kept a Neutral rating, citing a soft sales outlook and full-year guidance that was slightly under expectations.
Evercore ISI increased its price target to $75, pointing to Best Buy's ability to sustain margins despite weak demand and emphasizing the rising importance of alternative profit streams. The firm characterized fiscal 2027 as appearing to be an investment year focused on gross margin expansion to support higher-margin initiatives.
Argus held onto a Hold rating and revised its fiscal 2027 earnings-per-share estimate to $6.55 from $6.68, reflecting slightly lower sales expectations. Argus also initiated a fiscal 2028 EPS estimate of $7.24, projecting about 2% sales growth.
D.A. Davidson additionally adjusted its EPS forecasts for Best Buy, lowering fiscal 2026 and 2027 estimates to $6.59 and $7.15, respectively, while continuing to maintain a Buy recommendation based on the company's most recent results and guidance.
What is clear from the filings
The SEC Form 4 entries provide a factual ledger of the CFO's recent transactions: a cash sale on March 23, 2026, and a zero-cost restricted grant dated March 20, 2026 with a three-year vesting schedule. The filings also establish Bilunas' direct ownership position following these events.