Sony Corporation $SONY Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. sold 2,309,082 shares of Sony, reducing its stake by 23.9%, leaving it with 7,371,467 shares valued at approximately $187.16 million.
• Wall Street analysts have downgraded Sony's stock rating from "buy" to "hold", with a consensus price target of $28.00 after the recent earnings report.
• Sony's stock price opened at $28.65, with a market capitalization of $173.26 billion, and the company reported earnings of $0.30 per share, beating expectations.

Goldman Sachs Group Inc. trimmed its holdings in Sony Corporation (NYSE:SONY - Free Report) by 23.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,371,467 shares of the company's stock after selling 2,309,082 shares during the quarter. Goldman Sachs Group Inc. owned 0.12% of Sony worth $187,162,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SONY. City Holding Co. purchased a new stake in shares of Sony in the first quarter worth about $30,000. Bartlett & CO. Wealth Management LLC acquired a new position in Sony in the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT purchased a new stake in Sony in the 1st quarter worth approximately $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 in the last quarter. Finally, Ameliora Wealth Management Ltd. acquired a new stake in Sony during the first quarter valued at $56,000. Hedge funds and other institutional investors own 14.05% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Sony from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $28.00.

Sony Price Performance

Shares of NYSE SONY opened at $28.65 on Thursday. The firm has a 50-day simple moving average of $26.22 and a 200-day simple moving average of $25.34. 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 stock has a market capitalization of $173.26 billion, a price-to-earnings ratio of 22.74 and a beta of 0.94. Sony Corporation has a 52 week low of $17.42 and a 52 week high of $29.16.

Sony (NYSE:SONY - Get Free Report) last announced 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 company had revenue of $17.79 billion during the quarter, compared to analysts' expectations of $18.88 billion. Sony had a net margin of 9.14% and a return on equity of 13.88%. During the same quarter in the prior year, the company earned $189.90 EPS. Sony has set its FY 2025 guidance at EPS. On average, equities analysts predict that Sony Corporation will post 1.23 earnings per share for the current fiscal year.

About Sony

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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