Envestnet Asset Management Inc. Decreases Stock Holdings in Sony Corporation $SONY

Envestnet Asset Management Inc. decreased its holdings in shares of Sony Corporation (NYSE:SONY) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,292,543 shares of the company’s stock after selling 49,480 shares during the quarter. Envestnet Asset Management Inc. owned about 0.10% of Sony worth $163,795,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SONY. Trust Co. of Toledo NA OH purchased a new stake in Sony during the second quarter valued at $39,000. Zions Bancorporation National Association UT purchased a new stake in Sony during the first quarter valued at $47,000. Financial Management Professionals Inc. raised its stake in Sony by 81.5% during the second quarter. Financial Management Professionals Inc. now owns 1,980 shares of the company’s stock valued at $52,000 after purchasing an additional 889 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Sony during the second quarter valued at $69,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Sony during the first quarter valued at $75,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Trading Up 1.1%

Shares of SONY opened at $29.01 on Wednesday. Sony Corporation has a twelve month low of $17.56 and a twelve month high of $30.28. The company has a market cap of $175.41 billion, a P/E ratio of 23.02 and a beta of 0.95. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $28.75 and its 200-day simple moving average is $26.55.

Sony (NYSE:SONY) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $17.79 billion for the quarter, compared to analysts’ expectations of $18.88 billion. Sony had a net margin of 9.14% and a return on equity of 13.88%. During the same period in the prior year, the business posted $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. As a group, analysts expect that Sony Corporation will post 1.23 EPS for the current year.

Analysts Set New Price Targets

SONY has been the topic of a number of recent research reports. Zacks Research raised shares of Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Cfra Research raised shares of Sony to a “moderate buy” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sony in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average 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.