Ravi Ahuja Sells 36,826 Shares of Sony (NYSE:SONY) 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 trade represents a 38.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Sony Stock Performance

Shares of Sony stock opened at $20.94 on Friday. Sony Corporation has a 52 week low of $19.32 and a 52 week high of $30.34. The business’s fifty day simple moving average is $21.16 and its 200-day simple moving average is $21.99. 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 quick ratio of 0.94, a current ratio of 1.18 and a debt-to-equity ratio of 0.10.

Sony (NYSE:SONY) last released its quarterly earnings results on Friday, May 8th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). The business had revenue of $19.15 billion for the quarter, compared to analysts’ expectations of $18.43 billion. Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $32.86 earnings per share. Equities analysts forecast that Sony Corporation will post 1.28 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Key Headlines Impacting Sony

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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SONY. Fisher Asset Management LLC grew its holdings in shares of Sony by 4.1% in the fourth quarter. Fisher Asset Management LLC now owns 108,981,588 shares of the company’s stock valued at $2,789,929,000 after purchasing an additional 4,337,062 shares in the last quarter. Bank of America Corp DE lifted its holdings in Sony by 9.1% during the 1st quarter. Bank of America Corp DE now owns 16,992,579 shares of the company’s stock worth $351,746,000 after buying an additional 1,413,785 shares in the last quarter. Capital International Investors boosted its position in Sony by 23.1% in the 4th quarter. Capital International Investors now owns 7,446,889 shares of the company’s stock valued at $191,534,000 after buying an additional 1,397,271 shares during the period. Royal Bank of Canada boosted its position in Sony by 10.7% in the 4th quarter. Royal Bank of Canada now owns 6,778,922 shares of the company’s stock valued at $173,539,000 after buying an additional 657,655 shares during the period. Finally, Capital World Investors boosted its position in Sony by 1.5% in the 4th quarter. Capital World Investors now owns 5,076,516 shares of the company’s stock valued at $129,973,000 after buying an additional 74,768 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Company Profile

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.