Y.D. More Investments Ltd Sells 50,865 Shares of Sony Corporation $SONY

Key Points

• Y.D. More Investments Ltd cut its Sony stake by 64.6% in the first quarter, selling 50,865 shares and leaving it with 27,900 shares worth about $578,000.
• Other institutional investors were active as well, with some adding to their positions, while overall institutions still hold 14.05% of Sony’s stock.
• Sony reported quarterly revenue of $19.15 billion, beating estimates, but EPS came in at $0.09 versus the expected $0.22; analysts currently have a Hold consensus and an average price target of $22.00.

Y.D. More Investments Ltd lowered its position in Sony Corporation (NYSE:SONY - Free Report) by 64.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,900 shares of the company's stock after selling 50,865 shares during the quarter. Y.D. More Investments Ltd's holdings in Sony were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. CWA Asset Management Group LLC acquired a new position in Sony during the 4th quarter worth about $2,922,000. Brighton Jones LLC increased its stake in shares of Sony by 422.0% in the fourth quarter. Brighton Jones LLC now owns 19,908 shares of the company's stock valued at $421,000 after buying an additional 16,094 shares during the period. Ferguson Wellman Capital Management Inc. bought a new position in shares of Sony during the first quarter worth about $23,933,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Sony by 28.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 973,178 shares of the company's stock worth $24,913,000 after acquiring an additional 212,971 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Sony by 338.7% in the first quarter. Y Intercept Hong Kong Ltd now owns 295,454 shares of the company's stock worth $6,116,000 after acquiring an additional 228,108 shares during the period. Institutional investors own 14.05% of the company's stock.

Sony News Summary

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony’s VENICE 2 firmware v5.00 has rolled out as promised, adding a new Signature preset that should support professional camera users and reinforce the company’s position in high-end imaging. Sony VENICE 2 v5.00 firmware arrives as promised, adds Signature preset
• Positive Sentiment: Sony is also being highlighted in consumer-tech coverage for products like its BRAVIA 7 II TV and 4K TV lineup, which can help support brand visibility in its TV and electronics businesses. ‘Jaw dropped’: Tech expert reviews Sony BRAVIA 7 II 4K TV
• Positive Sentiment: Sony is reportedly competing with Netflix for Letterboxd, suggesting the company is still active in content and media dealmaking that could expand its entertainment footprint. Letterboxd could find a new home at Netflix, but Sony is fighting for it too

Insider Buying and Selling at Sony

In other Sony news, Director Kenichiro Yoshida sold 400,000 shares of the firm's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $22.61, for a total value of $9,044,000.00. Following the completion of the sale, the director directly owned 661,615 shares in the company, valued at approximately $14,959,115.15. This trade represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tsuyoshi Kodera sold 51,000 shares of Sony stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $20.54, for a total transaction of $1,047,540.00. Following the completion of the sale, the insider directly owned 27,553 shares of the company's stock, valued at approximately $565,938.62. This trade represents a 64.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 771,838 shares of company stock valued at $16,866,580 over the last 90 days. Insiders own 7.00% of the company's stock.

Sony Stock Down 0.8%

Shares of Sony stock opened at $20.68 on Tuesday. Sony Corporation has a one year low of $19.32 and a one year high of $30.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.18 and a quick ratio of 0.94. The stock's 50-day moving average is $21.20 and its 200 day moving average is $21.92. The firm has a market cap of $122.21 billion, a price-to-earnings ratio of -103.42, a PEG ratio of 1.66 and a beta of 0.94.

Sony (NYSE:SONY - Get Free Report) last released its earnings results on Friday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.13). The business had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.43 billion. Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $32.86 EPS. Equities research analysts anticipate that Sony Corporation will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

SONY has been the topic of several analyst reports. Sanford C. Bernstein reiterated a "market perform" rating and issued a $22.00 target price (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Weiss Ratings restated a "sell (d+)" rating on shares of Sony in a research report on Wednesday, May 20th. Finally, Benchmark reaffirmed a "buy" rating on shares of Sony in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $22.00.

Sony Profile

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.

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