Sony Corporation $SONY Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. cut its holdings in shares of Sony Corporation (NYSE:SONY) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 184,474 shares of the company’s stock after selling 5,786 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Sony were worth $4,802,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP bought a new stake in shares of Sony in the 1st quarter worth approximately $78,905,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Sony by 4,056.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,973,638 shares of the company’s stock valued at $50,269,000 after acquiring an additional 1,926,156 shares during the period. 1832 Asset Management L.P. grew its position in shares of Sony by 702.4% during the first quarter. 1832 Asset Management L.P. now owns 1,318,299 shares of the company’s stock worth $33,472,000 after acquiring an additional 1,154,010 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Sony by 124.5% in the 1st 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 period. Finally, Assetmark Inc. increased its holdings in shares of Sony by 175.6% in the 2nd quarter. Assetmark Inc. now owns 1,469,596 shares of the company’s stock worth $38,254,000 after acquiring an additional 936,441 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Price Performance

NYSE SONY opened at $27.69 on Friday. Sony Corporation has a 12 month low of $18.41 and a 12 month high of $30.28. The firm has a market capitalization of $167.48 billion, a PE ratio of 21.98 and a beta of 0.99. The company’s 50 day simple moving average is $28.75 and its 200 day simple moving average is $26.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.09 and a quick ratio of 1.03.

Sony (NYSE:SONY) last released its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Sony had a return on equity of 13.88% and a net margin of 9.14%.The firm had revenue of $17.79 billion for the quarter, compared to analyst estimates of $18.88 billion. During the same period in the previous year, the company earned $189.90 earnings per share. As a group, equities research analysts forecast that Sony Corporation will post 1.23 EPS for the current fiscal year.

Analysts Set New Price Targets

SONY has been the subject of a number of analyst reports. Cfra Research upgraded shares of Sony to a “moderate buy” rating in a research report on Friday, October 10th. Wolfe Research upgraded Sony from a “peer perform” rating to an “outperform” rating in a research report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Sony in a research report on Wednesday, October 8th. Finally, Zacks Research raised Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.00.

Sony 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.