Handelsbanken Fonder AB Sells 140,000 Shares of Sony Group Co. (NYSE:SONY)

Handelsbanken Fonder AB reduced its stake in shares of Sony Group Co. (NYSE:SONY - Free Report) by 22.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,000 shares of the company's stock after selling 140,000 shares during the quarter. Handelsbanken Fonder AB's holdings in Sony Group were worth $12,187,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Wedmont Private Capital increased its stake in shares of Sony Group by 3.6% in the first quarter. Wedmont Private Capital now owns 16,108 shares of the company's stock valued at $409,000 after buying an additional 555 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Sony Group by 4.1% in the first quarter. Sivia Capital Partners LLC now owns 17,841 shares of the company's stock valued at $453,000 after buying an additional 706 shares in the last quarter. FCA Corp TX increased its stake in shares of Sony Group by 22.5% in the fourth quarter. FCA Corp TX now owns 4,900 shares of the company's stock valued at $104,000 after buying an additional 900 shares in the last quarter. Capital Analysts LLC increased its stake in shares of Sony Group by 400.0% in the fourth quarter. Capital Analysts LLC now owns 1,170 shares of the company's stock valued at $25,000 after buying an additional 936 shares in the last quarter. Finally, Fairscale Capital LLC increased its stake in shares of Sony Group by 400.0% in the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company's stock valued at $26,000 after buying an additional 992 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Group Trading Up 1.8%

SONY traded up $0.47 during midday trading on Thursday, reaching $26.38. 3,234,293 shares of the company were exchanged, compared to its average volume of 4,374,492. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group Co. has a one year low of $15.86 and a one year high of $26.95. The stock has a market capitalization of $159.54 billion, a P/E ratio of 21.41, a PEG ratio of 9.95 and a beta of 0.96. The stock's 50-day simple moving average is $24.87 and its 200 day simple moving average is $23.29.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SONY shares. The Goldman Sachs Group started coverage on Sony Group in a research note on Tuesday, March 25th. They issued a "buy" rating for the company. Wall Street Zen cut Sony Group from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Oppenheimer reiterated an "outperform" rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Sony Group in a report on Monday, April 7th. Two equities research 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 Group 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.