Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of BEST (NYSE:BSTI) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 540,268 shares of the company’s stock after purchasing an additional 65,241 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.15% of BEST worth $5,565,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Huntington National Bank bought a new stake in shares of BEST during the 4th quarter valued at $135,000. Two Sigma Investments LP bought a new stake in shares of BEST during the 4th quarter valued at $166,000. Nwam LLC bought a new stake in shares of BEST during the 4th quarter valued at $226,000. Ellington Management Group LLC bought a new stake in shares of BEST during the 4th quarter valued at $280,000. Finally, Deutsche Bank AG bought a new stake in shares of BEST during the 4th quarter valued at $651,000. 12.07% of the stock is currently owned by institutional investors and hedge funds.
BSTI has been the topic of a number of research reports. Citigroup cut shares of BEST from a “buy” rating to a “neutral” rating in a report on Thursday, May 10th. Zacks Investment Research cut shares of BEST from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. KeyCorp set a $14.00 target price on shares of BEST and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, ValuEngine upgraded shares of BEST from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. BEST currently has an average rating of “Buy” and an average target price of $14.52.
Shares of BEST stock opened at $11.29 on Friday. BEST has a 1 year low of $11.33 and a 1 year high of $11.46.
BEST Company Profile
BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.
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