Sony Corporation $SONY Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Sony Corporation by 17.7%, selling 13,001 shares and holding 60,569 shares valued at approximately $1.58 million.
• Several institutional investors, including Northern Trust Corp and Ameriprise Financial Inc., also made significant changes to their positions in Sony, increasing their stakes during the first and second quarters.
• Sony's stock currently has a price target of $33.00 with a "Moderate Buy" rating from analysts following a recent earnings report where it reported an EPS of $0.30, beating estimates.

Envestnet Portfolio Solutions Inc. cut its position in Sony Corporation (NYSE:SONY - Free Report) by 17.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,569 shares of the company's stock after selling 13,001 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Sony were worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of Sony by 3.4% in the first quarter. Northern Trust Corp now owns 7,845,521 shares of the company's stock worth $199,198,000 after acquiring an additional 257,838 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Sony in the first quarter worth approximately $78,905,000. Ameriprise Financial Inc. boosted its stake in shares of Sony by 124.5% in the first quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company's stock worth $52,814,000 after acquiring an additional 1,142,849 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Sony by 4,056.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,973,638 shares of the company's stock worth $50,269,000 after acquiring an additional 1,926,156 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in Sony by 0.4% during the first quarter. Raymond James Financial Inc. now owns 1,753,173 shares of the company's stock worth $44,513,000 after buying an additional 6,297 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Price Performance

SONY stock opened at $28.92 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $174.87 billion, a PE ratio of 22.95 and a beta of 0.95. Sony Corporation has a 12-month low of $17.42 and a 12-month high of $30.28. The business's fifty day moving average price is $28.62 and its 200 day moving average price is $26.19.

Sony (NYSE:SONY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $17.79 billion for the quarter, compared to the consensus estimate of $18.88 billion. Sony had a return on equity of 13.88% and a net margin of 9.14%.During the same quarter in the previous year, the business earned $189.90 EPS. Sony has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Sony Corporation will post 1.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Cfra Research upgraded Sony to a "moderate buy" rating in a research report on Friday, October 10th. Weiss Ratings reiterated a "buy (b)" rating on shares of Sony in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.00.

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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