124,441 Sony Corporation $SONY Shares Sold by Arnhold LLC

Key Points

• Arnhold LLC reduced its Sony stake by 14.9%, selling 124,441 shares and retaining 710,915 shares valued at approximately $16.7 million. Other institutional investors increased their positions, while institutions collectively own 14.05% of the stock.
• Sony’s latest quarterly results exceeded expectations, with EPS of $0.36 versus a $0.28 consensus and revenue of $17.45 billion, up 8.2% year over year. Shares opened at $26.05, within a 12-month range of $19.32 to $30.34.
• Analyst sentiment remains generally favorable, with a consensus “Moderate Buy” rating from 17 analysts, although some firms recently downgraded the stock or lowered price targets. Insiders sold roughly $13.5 million of shares over the past 90 days, primarily to cover tax obligations from vested equity awards.

Arnhold LLC trimmed its holdings in shares of Sony Corporation (NYSE:SONY - Free Report) by 14.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 710,915 shares of the company's stock after selling 124,441 shares during the period. Arnhold LLC's holdings in Sony were worth $16,728,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SONY. Apollon Wealth Management LLC raised its position in shares of Sony by 4.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 34,698 shares of the company's stock worth $816,000 after purchasing an additional 1,366 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Sony by 6.7% during the third quarter. Signaturefd LLC now owns 156,398 shares of the company's stock valued at $3,680,000 after purchasing an additional 9,826 shares in the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Sony by 29.2% during the third quarter. Sowell Financial Services LLC now owns 14,216 shares of the company's stock valued at $334,000 after purchasing an additional 3,209 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in Sony by 5.1% in the 3rd quarter. Evergreen Capital Management LLC now owns 112,851 shares of the company's stock worth $2,655,000 after buying an additional 5,448 shares in the last quarter. Finally, Gibbs Wealth Management increased its holdings in Sony by 7.7% in the 3rd quarter. Gibbs Wealth Management now owns 19,472 shares of the company's stock worth $458,000 after buying an additional 1,395 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Stock Down 0.1%

SONY stock opened at $26.05 on Tuesday. Sony Corporation has a twelve month low of $19.32 and a twelve month high of $30.34. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The business's 50-day moving average price is $24.09 and its 200-day moving average price is $22.33.

Sony (NYSE:SONY - Get Free Report) last released its earnings results on Saturday, August 1st. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08. Sony had a negative net margin of 2.00% and a positive return on equity of 13.06%. The company had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.17 billion. During the same period in the prior year, the firm posted $42.84 EPS. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict that Sony Corporation will post 1.45 EPS for the current year.

Key Sony News

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Reports suggest Sony’s next PlayStation handheld could use a customized AMD RDNA 5 chip, potentially giving it unusually strong graphics performance. If confirmed, the technology could strengthen Sony’s gaming ecosystem and create a new hardware growth opportunity, although the reports remain speculative. Sony's PS6 handheld may get an exclusive custom RDNA 5 chip from AMD
• Positive Sentiment: Sony is promoting the cast of Until Dawn 2 ahead of its planned PS5 release, supporting the view that the company is continuing to build a pipeline of first-party and franchise content. Until Dawn 2 cast
• Positive Sentiment: Patents that could convert in-game sounds into visual or haptic cues may improve accessibility for deaf and hard-of-hearing players and differentiate future PlayStation products. The commercial benefit is longer term because no product launch was announced. Sony accessibility patent
• Positive Sentiment: Analyst coverage describes SONY as a highly ranked momentum stock, consistent with its recent trading strength and earlier-than-expected quarterly earnings and revenue performance. Sony momentum stock analysis

Insiders Place Their Bets

In other news, insider Ravi Ahuja sold 15,580 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $22.71, for a total value of $353,821.80. Following the completion of the transaction, the insider owned 22,096 shares of the company's stock, valued at $501,800.16. This represents a 41.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Adrian Stringer sold 545,547 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $22.49, for a total value of $12,269,352.03. Following the sale, the insider owned 100,547 shares of the company's stock, valued at $2,261,302.03. This represents a 84.44% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 598,227 shares of company stock valued at $13,488,286 in the last ninety days. Insiders own 7.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SONY. BNP Paribas Exane lifted their target price on shares of Sony from $660.00 to $700.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Zacks Research lowered shares of Sony from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 30th. Benchmark reissued a "buy" rating on shares of Sony in a report on Monday, August 3rd. Wall Street Zen downgraded Sony from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Finally, UBS Group cut their price objective on Sony from $560.00 to $525.00 and set a "neutral" rating for the company in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sony presently has a consensus rating of "Moderate Buy" and a consensus price target of $373.00.

About Sony

Sony Group Corporation is a Japan-based global entertainment and technology company whose businesses span games, music, motion pictures, electronics, imaging and financial services. The company develops and markets consumer and professional products, digital content, software and services through a portfolio of internationally recognized brands.

Sony's Game & Network Services business operates the PlayStation platform, including hardware, software, online services and related content.

Want to see what other hedge funds are holding SONY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sony Corporation (NYSE:SONY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.