Sony Corporation $SONY Shares Sold by Bailard Inc.

Bailard Inc. lessened its stake in Sony Corporation (NYSE:SONY) by 35.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,779 shares of the company’s stock after selling 33,935 shares during the period. Bailard Inc.’s holdings in Sony were worth $1,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of Sony by 3.3% during the second quarter. PNC Financial Services Group Inc. now owns 313,117 shares of the company’s stock valued at $8,150,000 after acquiring an additional 10,068 shares during the period. Vise Technologies Inc. bought a new position in Sony during the 2nd quarter valued at $3,814,000. Allworth Financial LP increased its position in shares of Sony by 35.1% during the 2nd quarter. Allworth Financial LP now owns 12,344 shares of the company’s stock valued at $321,000 after purchasing an additional 3,208 shares during the period. Future Fund LLC raised its stake in shares of Sony by 10.2% in the 2nd quarter. Future Fund LLC now owns 34,007 shares of the company’s stock worth $885,000 after buying an additional 3,159 shares in the last quarter. Finally, Midwest Trust Co acquired a new stake in shares of Sony in the second quarter valued at $259,000. 14.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SONY shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Sony in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 16th. Cfra Research raised shares of Sony to a “moderate buy” rating in a research note on Friday, October 10th. Finally, Wolfe Research upgraded shares of Sony from a “peer perform” rating to an “outperform” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $33.00.

Sony Trading Down 2.6%

NYSE SONY opened at $29.47 on Friday. The firm’s 50 day moving average price is $28.91 and its two-hundred day moving average price is $26.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. Sony Corporation has a twelve month low of $18.41 and a twelve month high of $30.34. The stock has a market cap of $178.22 billion, a price-to-earnings ratio of 23.39 and a beta of 0.99.

Sony Company 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.