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Sony Corporation $SONY Shares Purchased by CIBC Private Wealth Group LLC

Sony logo with Consumer Discretionary background
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Key Points

  • CIBC Private Wealth Group LLC raised its stake in Sony by 4.9% to 1,762,209 shares (about $50.73 million) in Q3, while several other institutions (including a new ~$50.56 million stake by CIBC Bancorp USA) also built positions; about 14.05% of Sony is held by hedge funds and other institutional investors.
  • Sony shares are trading near $20.36 with a 52-week range of $20.32–$30.34 and a market cap of ~$123.1 billion, and analyst sentiment is a consensus “Hold” (average price target $22) after recent downgrades—notably Sanford C. Bernstein cutting its rating to Market Perform and lowering its target from $30 to $22.
  • Operationally, Sony has positive catalysts from gaming and semiconductor product updates—PS5 Pro upscaling and Portal streaming improvements, a new 4K image sensor for security cameras, and studio content momentum (new Spider-Man trailer)—which could support future revenue despite near-term headwinds.
  • Five stocks we like better than Sony.

CIBC Private Wealth Group LLC raised its stake in Sony Corporation (NYSE:SONY - Free Report) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,762,209 shares of the company's stock after acquiring an additional 81,525 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Sony were worth $50,734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SONY. CIBC Bancorp USA Inc. purchased a new stake in Sony during the 3rd quarter worth about $50,560,000. Ovata Capital Management Ltd purchased a new position in Sony in the 3rd quarter valued at about $777,000. Centaurus Financial Inc. lifted its holdings in Sony by 13.7% in the 3rd quarter. Centaurus Financial Inc. now owns 5,254 shares of the company's stock valued at $151,000 after purchasing an additional 632 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Sony by 32.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 49,386 shares of the company's stock worth $1,422,000 after purchasing an additional 12,096 shares during the last quarter. Finally, GM Advisory Group LLC acquired a new stake in shares of Sony during the 3rd quarter worth about $202,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Price Performance

Sony stock opened at $20.36 on Thursday. The firm has a fifty day moving average of $22.57 and a 200-day moving average of $26.17. Sony Corporation has a 52-week low of $20.32 and a 52-week high of $30.34. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $123.10 billion, a P/E ratio of -101.77, a PEG ratio of 7.43 and a beta of 0.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SONY shares. Zacks Research lowered shares of Sony from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 12th. Nomura upgraded shares of Sony from a "neutral" rating to a "buy" rating in a research report on Wednesday, November 19th. Weiss Ratings cut shares of Sony from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, February 20th. Wall Street Zen upgraded Sony to a "hold" rating in a report on Saturday, December 6th. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $22.00 price target (down from $30.00) on shares of Sony in a research note on Tuesday. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sony currently has a consensus rating of "Hold" and an average price target of $22.00.

View Our Latest Analysis on SONY

More Sony News

Here are the key news stories impacting Sony this week:

Sony Profile

(Free Report)

Sony Group Corporation NYSE: SONY is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company's shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony's primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

Further Reading

Want to see what other hedge funds are holding SONY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sony Corporation (NYSE:SONY - Free Report).

Institutional Ownership by Quarter for Sony (NYSE:SONY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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