Envestnet Portfolio Solutions Inc. Lowers Stake in Sony Corporation (NYSE:SONY)

Envestnet Portfolio Solutions Inc. decreased its position in Sony Corporation (NYSE:SONY - Free Report) by 55.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,570 shares of the company's stock after selling 91,958 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Sony were worth $1,868,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Forum Financial Management LP boosted its position in shares of Sony by 536.0% during the 4th quarter. Forum Financial Management LP now owns 115,250 shares of the company's stock worth $2,439,000 after purchasing an additional 97,130 shares during the period. West Family Investments Inc. boosted its position in shares of Sony by 392.9% during the 4th quarter. West Family Investments Inc. now owns 26,725 shares of the company's stock worth $566,000 after purchasing an additional 21,303 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Sony by 435.8% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 582,400 shares of the company's stock valued at $12,323,000 after buying an additional 473,700 shares during the period. Sage Rhino Capital LLC boosted its position in Sony by 404.1% in the 4th quarter. Sage Rhino Capital LLC now owns 24,829 shares of the company's stock valued at $525,000 after buying an additional 19,904 shares during the period. Finally, Schechter Investment Advisors LLC boosted its position in Sony by 387.9% in the 4th quarter. Schechter Investment Advisors LLC now owns 45,112 shares of the company's stock valued at $955,000 after buying an additional 35,866 shares during the period. Hedge funds and other institutional investors own 14.05% of the company's stock.

Sony Stock Up 2.4%

Shares of SONY traded up $0.58 during midday trading on Tuesday, reaching $25.00. The stock had a trading volume of 6,394,124 shares, compared to its average volume of 4,385,048. Sony Corporation has a 1-year low of $15.96 and a 1-year high of $26.95. The company's fifty day simple moving average is $25.41 and its two-hundred day simple moving average is $23.65. The company has a market cap of $151.16 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 11.76 and a beta of 0.96. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.70 and a quick ratio of 0.57.

Analyst Ratings Changes

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