Harber Asset Management LLC decreased its stake in shares of Sony Corporation (NYSE:SONY - Free Report) by 78.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,146 shares of the company's stock after selling 320,945 shares during the quarter. Sony comprises about 0.8% of Harber Asset Management LLC's investment portfolio, making the stock its 29th biggest holding. Harber Asset Management LLC's holdings in Sony were worth $2,289,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SONY. City Holding Co. purchased a new stake in Sony during the 1st quarter valued at $30,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Sony during the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT bought a new position in shares of Sony during the 1st quarter valued at about $47,000. Ameliora Wealth Management Ltd. bought a new position in shares of Sony during the 1st quarter valued at about $56,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sony by 155.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,268 shares of the company's stock valued at $48,000 after purchasing an additional 1,380 shares during the last quarter. 14.05% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded shares of Sony from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $28.00.
Check Out Our Latest Stock Report on Sony
Sony Stock Up 0.3%
SONY stock traded up $0.08 during trading on Wednesday, hitting $27.03. 3,283,790 shares of the company's stock traded hands, compared to its average volume of 5,109,662. The firm has a market capitalization of $163.44 billion, a P/E ratio of 21.45 and a beta of 0.94. Sony Corporation has a 1 year low of $17.42 and a 1 year high of $29.16. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $25.94 and a two-hundred day simple moving average of $25.20.
Sony (NYSE:SONY - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. Sony had a net margin of 9.14% and a return on equity of 13.88%. The company had revenue of $17.79 billion during the quarter, compared to the consensus estimate of $18.88 billion. During the same period last year, the firm earned $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Sony Corporation will post 1.23 EPS for the current year.
Sony Company Profile
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Free Report)
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.
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