Sony (NYSE:SONY) Insider Ravi Ahuja Sells 36,826 Shares of Stock

Sony Corporation (NYSE:SONY) insider Ravi Ahuja sold 36,826 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $21.08, for a total value of $776,292.08. Following the sale, the insider directly owned 58,786 shares of the company’s stock, valued at approximately $1,239,208.88. This represents a 38.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sony Trading Down 1.0%

Shares of NYSE SONY opened at $21.18 on Thursday. The business has a fifty day simple moving average of $21.14 and a 200-day simple moving average of $22.02. The company has a market cap of $125.16 billion, a price-to-earnings ratio of -105.92, a P/E/G ratio of 1.70 and a beta of 0.94. The company has a quick ratio of 0.94, a current ratio of 1.18 and a debt-to-equity ratio of 0.10. Sony Corporation has a 12 month low of $19.32 and a 12 month high of $30.34.

Sony (NYSE:SONY) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.13). Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The firm had revenue of $19.15 billion for the quarter, compared to analysts’ expectations of $18.43 billion. During the same quarter in the previous year, the firm posted $32.86 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts predict that Sony Corporation will post 1.28 EPS for the current year.

Institutional Investors Weigh In On Sony

A number of institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Sony by 8.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,272 shares of the company’s stock valued at $126,000 after purchasing an additional 481 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Sony in the second quarter valued at about $802,000. Assenagon Asset Management S.A. acquired a new position in shares of Sony in the 2nd quarter worth approximately $4,349,000. 55 North Private Wealth LLC acquired a new position in Sony in the second quarter worth $259,000. Finally, Grove Bank & Trust increased its position in Sony by 25.6% in the 2nd quarter. Grove Bank & Trust now owns 4,488 shares of the company’s stock valued at $90,000 after acquiring an additional 916 shares in the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SONY shares. Sanford C. Bernstein restated a “market perform” rating and set a $22.00 price target (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Benchmark reissued a “buy” rating on shares of Sony in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Sony in a report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.00.

Trending Headlines about Sony

Here are the key news stories impacting Sony this week:

• Negative Sentiment: Sony CEO Hiroki Totoki sold 225,000 shares, while another insider, Toshimoto Mitomo, sold 25,000 shares. Large insider sales can weigh on sentiment because investors often view them as a lack of confidence or simple profit-taking. Hiroki Totoki Sells 225,000 Shares of Sony (NYSE:SONY) Stock
• Negative Sentiment: Jermaine Dupri filed an $18 million lawsuit against Sony over alleged unpaid royalties, creating legal uncertainty for Sony Music and raising concerns about possible costs or reputational damage. Jermaine Dupri sues Sony Music for $18 million in unpaid royalties
• Negative Sentiment: Backlash continues over reports that Sony is moving away from physical PlayStation discs, which could hurt gamer goodwill and add concerns about the company’s long-term gaming strategy. Don’t Kill The Disc Petition Urging Sony To Preserve Physical Media On PS6 Breaks 120,000 Signatures
• Neutral Sentiment: Sony continues to attract attention for product news, including a leaked OLED TV and reviews of its Bravia lineup, but these stories are not likely to move the stock much on their own. Sony Bravia 9 II review

About Sony

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.