Insider Selling: Sony (NYSE:SONY) Insider Sells $525,500.00 in Stock

Sony Corporation (NYSE:SONY) insider Toshimoto Mitomo sold 25,000 shares of the business’s stock in a transaction on Friday, July 3rd. The stock was sold at an average price of $21.02, for a total value of $525,500.00. Following the completion of the transaction, the insider directly owned 115,700 shares in the company, valued at approximately $2,432,014. This represents a 17.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Sony Stock Performance

Shares of NYSE:SONY opened at $20.94 on Friday. Sony Corporation has a twelve month low of $19.32 and a twelve month high of $30.34. The firm has a market cap of $123.74 billion, a PE ratio of -104.71, a price-to-earnings-growth ratio of 1.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 1.18. The business has a fifty day moving average of $21.16 and a 200-day moving average of $21.99.

Sony (NYSE:SONY) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.09 earnings per share (EPS) 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 company had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.43 billion. During the same quarter last year, the company earned $32.86 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts predict that Sony Corporation will post 1.28 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Sony

Institutional investors and hedge funds have recently modified their holdings of the business. CWA Asset Management Group LLC acquired a new stake in shares of Sony during the fourth quarter worth $2,922,000. Brighton Jones LLC lifted its stake in 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. Sumitomo Mitsui Trust Group Inc. lifted its stake in Sony by 28.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 973,178 shares of the company’s stock valued at $24,913,000 after buying an additional 212,971 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Sony by 338.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 295,454 shares of the company’s stock worth $6,116,000 after buying an additional 228,108 shares during the last quarter. Finally, Capital International Investors boosted its holdings in Sony by 245.0% during the third quarter. Capital International Investors now owns 6,049,618 shares of the company’s stock worth $176,044,000 after buying an additional 4,296,028 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Sony News Roundup

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony received conditional approval to launch a U.S.-based stablecoin trust bank, which could expand its financial-services footprint and create a new growth avenue.
• Positive Sentiment: Sony’s new RX10 V camera and other consumer-electronics launches show ongoing product innovation, supporting the company’s hardware brand.
• Neutral Sentiment: Wall Street coverage remains mixed, with analysts generally holding a neutral stance and a consensus price target near current levels.
• Negative Sentiment: Sony’s reported shift away from physical PlayStation discs has triggered backlash from gamers and raised concern about the company’s gaming strategy and user goodwill. Sony plans major change to PlayStation games that has thousands concerned
• Negative Sentiment: Jermaine Dupri’s lawsuit over alleged unpaid royalties adds legal and financial uncertainty for Sony Music. Jermaine Dupri sues Sony Music for $18 million in unpaid royalties
• Negative Sentiment: Recent insider selling, including by Sony’s CEO and other executives, is pressuring investor sentiment and may be viewed as a lack of confidence or profit-taking.

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.