Sony Corporation $SONY Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC decreased its holdings in shares of Sony Corporation (NYSE:SONYFree Report) by 27.8% during the second quarter, Holdings Channel.com reports. The fund owned 123,969 shares of the company’s stock after selling 47,647 shares during the period. Sequoia Financial Advisors LLC’s holdings in Sony were worth $2,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Elyxium Wealth LLC acquired a new stake in Sony in the 4th quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in Sony by 404.1% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,109 shares of the company’s stock valued at $28,000 after purchasing an additional 889 shares in the last quarter. Twin Tree Management LP increased its stake in Sony by 4,218.5% during the 4th quarter. Twin Tree Management LP now owns 1,112 shares of the company’s stock valued at $28,000 after purchasing an additional 1,139 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Sony in the fourth quarter worth $28,000. Finally, Binnacle Investments Inc raised its holdings in shares of Sony by 81.7% in the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock worth $30,000 after buying an additional 464 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Stock Down 0.0%

SONY stock opened at $23.89 on Monday. The company has a market capitalization of $141.17 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93. Sony Corporation has a 12 month low of $19.32 and a 12 month high of $30.34. The firm’s fifty day simple moving average is $22.88 and its 200-day simple moving average is $21.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 0.97.

Sony (NYSE:SONYGet Free Report) last issued its earnings results on Saturday, August 1st. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08. The firm had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.17 billion. Sony had a negative net margin of 2.00% and a positive return on equity of 13.06%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $42.84 earnings per share. As a group, equities research analysts forecast that Sony Corporation will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Sony from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Benchmark restated a “buy” rating on shares of Sony in a research note on Monday, August 3rd. Zacks Research raised Sony from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Sony in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Read Our Latest Analysis on SONY

Key Headlines Impacting Sony

Here are the key news stories impacting Sony this week:

Insider Buying and Selling at Sony

In other news, insider Tsuyoshi Kodera sold 51,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $20.54, for a total value of $1,047,540.00. Following the completion of the transaction, the insider owned 27,553 shares of the company’s stock, valued at $565,938.62. The trade was a 64.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Adrian Stringer sold 545,547 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $22.49, for a total value of $12,269,352.03. Following the completion of the sale, the insider owned 100,547 shares in the company, valued at $2,261,302.03. The trade was a 84.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 952,565 shares of company stock worth $20,915,191. Insiders own 7.00% of the company’s stock.

Sony Company Profile

(Free Report)

Sony Group Corporation is a Japan-based global entertainment and technology company headquartered in Tokyo. Founded in 1946 as Tokyo Tsushin Kogyo, the company adopted the Sony name in 1958 and has developed a diversified portfolio spanning consumer electronics, interactive entertainment, music, film and television, and imaging technology.

Sony’s Game & Network Services business operates the PlayStation platform and provides hardware, software, digital content and network services.

Further Reading

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Institutional Ownership by Quarter for Sony (NYSE:SONY)

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