Vident Advisory LLC Boosts Stake in Sony Group Co. (NYSE:SONY)

Vident Advisory LLC lifted its holdings in Sony Group Co. (NYSE:SONY - Free Report) by 509.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,048 shares of the company's stock after acquiring an additional 77,775 shares during the quarter. Vident Advisory LLC's holdings in Sony Group were worth $1,969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd increased its stake in shares of Sony Group by 400.0% in the fourth quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company's stock worth $763,000 after acquiring an additional 28,852 shares during the period. Bfsg LLC acquired a new stake in shares of Sony Group in the fourth quarter worth $6,125,000. Fifth Third Bancorp increased its stake in shares of Sony Group by 311.3% in the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company's stock worth $3,337,000 after acquiring an additional 119,362 shares during the period. Forum Financial Management LP increased its stake in shares of Sony Group by 536.0% in the fourth quarter. Forum Financial Management LP now owns 115,250 shares of the company's stock worth $2,439,000 after acquiring an additional 97,130 shares during the period. Finally, West Family Investments Inc. increased its stake in shares of Sony Group by 392.9% in the fourth quarter. West Family Investments Inc. now owns 26,725 shares of the company's stock worth $566,000 after acquiring an additional 21,303 shares during the period. Institutional investors and hedge funds own 14.05% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SONY. Wall Street Zen lowered shares of Sony Group from a "buy" rating to a "hold" rating in a research note on Thursday. Oppenheimer restated an "outperform" rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Wolfe Research restated a "peer perform" rating on shares of Sony Group in a research report on Monday, April 7th. Finally, The Goldman Sachs Group initiated coverage on shares of Sony Group in a research report on Tuesday, March 25th. They set a "buy" rating on the stock. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sony Group currently has an average rating of "Moderate Buy" and an average target price of $28.00.

Sony Group Stock Performance

SONY stock traded up $0.21 during midday trading on Friday, hitting $25.54. 6,527,457 shares of the stock traded hands, compared to its average volume of 4,302,612. The firm has a market cap of $154.46 billion, a P/E ratio of 20.73, a PEG ratio of 9.95 and a beta of 0.97. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The stock's fifty day simple moving average is $24.45 and its 200-day simple moving average is $22.64. Sony Group Co. has a 1-year low of $15.67 and a 1-year high of $26.08.

About Sony Group

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.