Massachusetts Financial Services Co. MA Purchases 111,356 Shares of Sony Corporation (NYSE:SONY)

Massachusetts Financial Services Co. MA raised its position in shares of Sony Corporation (NYSE:SONY - Free Report) by 111.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,399 shares of the company's stock after purchasing an additional 111,356 shares during the period. Massachusetts Financial Services Co. MA's holdings in Sony were worth $5,367,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Sony during the 1st quarter worth $551,000. Signaturefd LLC grew its stake in Sony by 1.8% during the 1st quarter. Signaturefd LLC now owns 146,475 shares of the company's stock worth $3,719,000 after buying an additional 2,551 shares during the last quarter. Prudent Man Advisors LLC purchased a new position in Sony during the 1st quarter worth $213,000. Kathmere Capital Management LLC grew its stake in Sony by 81.2% during the 1st quarter. Kathmere Capital Management LLC now owns 20,057 shares of the company's stock worth $509,000 after buying an additional 8,985 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in Sony by 18.4% during the 1st quarter. Ballentine Partners LLC now owns 86,779 shares of the company's stock worth $2,203,000 after buying an additional 13,493 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Price Performance

Shares of Sony stock opened at $23.93 on Friday. The business has a 50 day simple moving average of $25.49 and a two-hundred day simple moving average of $24.11. Sony Corporation has a 12 month low of $15.96 and a 12 month high of $26.95. The stock has a market capitalization of $144.72 billion, a P/E ratio of 19.39, a PEG ratio of 11.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.70 and a quick ratio of 0.57.

Analysts Set New Price Targets

Several analysts have weighed in on SONY shares. Wolfe Research reiterated a "peer perform" rating on shares of Sony in a research note on Monday, April 7th. Wall Street Zen cut Sony from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group initiated coverage on Sony in a report on Tuesday, March 25th. They issued a "buy" rating for the company. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Sony presently has a consensus 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.

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