Deutsche Bank AG Sells 424,780 Shares of Beyond, Inc. $BYON

Key Points

• Deutsche Bank AG significantly reduced its stake in Beyond, Inc. by 88.4%, selling 424,780 shares and now holding only 55,644 shares worth $323,000.
• Analysts have set a new price target for Beyond, with Wedbush increasing it from $10.00 to $13.00, while the consensus rating remains a "hold" with an average target of $8.86.
• Beyond, Inc. reported $282.25 million in revenue for the last quarter, beating estimates and showing improvement from previous quarters despite a 29.1% decline year-over-year.

Deutsche Bank AG trimmed its holdings in Beyond, Inc. (NYSE:BYON - Free Report) by 88.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,644 shares of the company's stock after selling 424,780 shares during the period. Deutsche Bank AG owned 0.10% of Beyond worth $323,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BYON. Platform Technology Partners acquired a new stake in shares of Beyond in the first quarter valued at approximately $59,000. CWM LLC lifted its holdings in Beyond by 188.8% during the 1st quarter. CWM LLC now owns 10,745 shares of the company's stock worth $62,000 after purchasing an additional 7,025 shares during the last quarter. Focus Partners Wealth acquired a new stake in Beyond during the 4th quarter worth approximately $71,000. Haven Private LLC acquired a new stake in Beyond during the 1st quarter worth approximately $71,000. Finally, Register Financial Advisors LLC acquired a new stake in Beyond during the 1st quarter worth approximately $74,000. 76.30% of the stock is owned by institutional investors and hedge funds.

Beyond Trading Down 4.6%

NYSE BYON traded down $0.43 during midday trading on Monday, hitting $9.01. The company had a trading volume of 1,880,416 shares, compared to its average volume of 2,587,103. The company has a market capitalization of $517.23 million, a PE ratio of -2.21 and a beta of 2.76. The firm has a 50-day moving average price of $8.54 and a 200-day moving average price of $6.58. Beyond, Inc. has a twelve month low of $3.54 and a twelve month high of $12.24.

Beyond (NYSE:BYON - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.15. The firm had revenue of $282.25 million during the quarter, compared to analysts' expectations of $250.37 million. Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%.The company's quarterly revenue was down 29.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.76) EPS. On average, equities analysts anticipate that Beyond, Inc. will post -3.75 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on BYON. Wedbush lifted their price target on Beyond from $10.00 to $13.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Needham & Company LLC reissued a "hold" rating on shares of Beyond in a report on Tuesday, July 29th. Finally, Wall Street Zen raised Beyond from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $8.86.

Beyond Profile

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.