Envestnet Asset Management Inc. Sells 799,694 Shares of Sony Corporation (NYSE:SONY)

Envestnet Asset Management Inc. trimmed its position in shares of Sony Corporation (NYSE:SONY - Free Report) by 11.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,342,023 shares of the company's stock after selling 799,694 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Sony worth $161,024,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SONY. Capital Analysts LLC raised its position in Sony by 400.0% in the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company's stock valued at $25,000 after buying an additional 936 shares during the last quarter. Accent Capital Management LLC raised its position in Sony by 400.0% in the 4th quarter. Accent Capital Management LLC now owns 1,380 shares of the company's stock valued at $29,000 after buying an additional 1,104 shares during the last quarter. City Holding Co. purchased a new stake in Sony in the 1st quarter valued at $30,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Sony in the 1st quarter valued at $31,000. Finally, Operose Advisors LLC raised its position in Sony by 400.0% in the 4th quarter. Operose Advisors LLC now owns 1,520 shares of the company's stock valued at $32,000 after buying an additional 1,216 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Stock Performance

Shares of SONY stock traded down $0.23 on Friday, hitting $24.42. 4,544,220 shares of the stock were exchanged, compared to its average volume of 5,425,066. The company has a current ratio of 0.70, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $147.68 billion, a PE ratio of 19.79, a P/E/G ratio of 12.10 and a beta of 0.94. Sony Corporation has a one year low of $15.96 and a one year high of $26.94. The firm's 50 day moving average is $25.58 and its two-hundred day moving average is $23.96.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SONY shares. Wall Street Zen downgraded Sony from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Wolfe Research restated a "peer perform" rating on shares of Sony in a research note on Monday, April 7th. Finally, The Goldman Sachs Group started coverage on Sony in a research note on Tuesday, March 25th. They issued a "buy" rating for the company. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

Sony Company Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.