Corient Private Wealth LP Raises Position in Sony Corporation $SONY

Key Points

• Corient Private Wealth increased its Sony position by 41.8% in the second quarter, adding 75,681 shares to hold 256,726 shares valued at approximately $5.15 million. Institutional investors collectively own 14.05% of Sony.
• Sony exceeded quarterly expectations, reporting $0.36 in EPS versus a $0.28 estimate and revenue of $17.45 billion, up 8.2% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $22.
• Investors face mixed developments: Sony’s Suno copyright lawsuit and the cancellation of a Last of Us-related multiplayer project add legal and execution risks, while insiders sold about $19.9 million of stock over the past 90 days.

Corient Private Wealth LP raised its position in shares of Sony Corporation (NYSE:SONY - Free Report) by 41.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 256,726 shares of the company's stock after acquiring an additional 75,681 shares during the quarter. Corient Private Wealth LP's holdings in Sony were worth $5,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SONY. Angeles Wealth Management LLC grew its position in shares of Sony by 14.0% in the 2nd quarter. Angeles Wealth Management LLC now owns 12,397 shares of the company's stock worth $249,000 after buying an additional 1,525 shares during the period. XY Capital Ltd bought a new stake in Sony during the second quarter worth about $10,246,000. Syon Capital LLC grew its holdings in Sony by 52.8% in the second quarter. Syon Capital LLC now owns 52,503 shares of the company's stock worth $1,053,000 after purchasing an additional 18,136 shares during the period. TD Waterhouse Canada Inc. grew its holdings in Sony by 10.6% in the second quarter. TD Waterhouse Canada Inc. now owns 471,304 shares of the company's stock worth $9,530,000 after purchasing an additional 44,980 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Sony by 23.4% during the second quarter. Concurrent Investment Advisors LLC now owns 29,848 shares of the company's stock valued at $599,000 after purchasing an additional 5,666 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.

Sony News Summary

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony and Universal Music Group filed a second lawsuit against AI music-generator company Suno, alleging its new model is built on copyrighted recordings. Although the case creates legal costs and uncertainty, it could strengthen Sony Music’s ability to protect intellectual property and negotiate licensing terms. UMG & Sony Hit Suno With New Lawsuit After Label-Backed Model
• Positive Sentiment: Sony is expanding free television and live-channel features on PS5, seeking to combine gaming and advertising audiences. Greater user engagement could create additional monetization opportunities for the PlayStation ecosystem. Sony Says Free TV On PS5 Is “One Plus One Equaling A Lot More Than Two”
• Positive Sentiment: New PlayStation Pulse headsets featuring planar-magnetic audio technology, along with favorable reviews of Sony’s WH-1000XM6 headphones, support Sony’s premium consumer-electronics positioning and could aid accessory sales. Sony Unveils New PlayStation Pulse Wireless Headsets
• Positive Sentiment: A reported failure of a PlayStation boycott over Sony’s disc-free strategy suggests limited near-term consumer disruption despite criticism of its digital direction. PlayStation boycott over Sony’s disc-free future fails to move the needle
• Neutral Sentiment: Positive attention around Spider-Man: Brand New Day and ongoing PS5 software updates may support Sony’s entertainment and gaming brands, but the reports provide no direct earnings impact. Spider-Man: Brand New Day Beats Force Awakens
• Negative Sentiment: The Suno litigation adds potential legal expense, execution risk and uncertainty over AI-related music rights. A ruling or settlement could affect Sony Music’s licensing economics, although the financial impact is not yet quantifiable. UMG, Sony Music File Second Lawsuit Against Suno
• Negative Sentiment: Sony canceled a planned Last of Us multiplayer-related project, a setback for PlayStation’s live-service ambitions and a possible write-off of development investment. The Last of Us Offshoot Officially Killed Off by Sony

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SONY shares. Wall Street Zen cut Sony from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Zacks Research raised Sony from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Benchmark reiterated a "buy" rating on shares of Sony in a research note on Monday, August 3rd. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Sony in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.00.

Sony Stock Performance

NYSE:SONY opened at $23.47 on Friday. The stock has a 50-day moving average price of $23.16 and a 200 day moving average price of $21.81. The stock has a market capitalization of $138.64 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.72 and a beta of 0.93. Sony Corporation has a 12-month low of $19.32 and a 12-month high of $30.34. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.

Sony (NYSE:SONY - Get Free Report) last posted its quarterly earnings results on Saturday, August 1st. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.08. Sony had a positive return on equity of 13.06% and a negative net margin of 2.00%.The company had revenue of $17.45 billion for the quarter, compared to analysts' expectations of $17.17 billion. During the same period in the previous year, the firm earned $42.84 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. Equities research analysts forecast that Sony Corporation will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling at Sony

In related news, insider Jonathan Jose Platt sold 16,512 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $21.08, for a total transaction of $348,072.96. Following the sale, the insider owned 83,326 shares of the company's stock, valued at $1,756,512.08. This represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tsuyoshi Kodera sold 17,100 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.72, for a total transaction of $388,512.00. Following the completion of the transaction, the insider directly owned 47,508 shares of the company's stock, valued at approximately $1,079,381.76. The trade was a 26.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 901,565 shares of company stock worth $19,867,651. Company insiders own 7.00% of the company's stock.

About Sony

Sony Group Corporation is a Japan-based global entertainment and technology company headquartered in Tokyo. Founded in 1946 as Tokyo Tsushin Kogyo, the company adopted the Sony name in 1958 and has developed a diversified portfolio spanning consumer electronics, interactive entertainment, music, film and television, and imaging technology.

Sony's Game & Network Services business operates the PlayStation platform and provides hardware, software, digital content and network services.

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.