Sumitomo Mitsui Trust Group Inc. Has $17.02 Million Stock Position in Sony Corporation $SONY

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Sony Corporation (NYSE:SONY) by 15.5% in the first quarter, HoldingsChannel reports. The fund owned 822,042 shares of the company’s stock after selling 151,136 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Sony were worth $17,016,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC increased its position in Sony by 422.0% during the fourth quarter. Brighton Jones LLC now owns 19,908 shares of the company’s stock worth $421,000 after acquiring an additional 16,094 shares during the period. AQR Capital Management LLC raised its stake in Sony by 26.7% in the 1st quarter. AQR Capital Management LLC now owns 178,889 shares of the company’s stock worth $4,542,000 after purchasing an additional 37,677 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Sony by 23.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 22,013 shares of the company’s stock valued at $573,000 after purchasing an additional 4,172 shares during the period. Russell Investments Group Ltd. boosted its holdings in Sony by 24.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 16,501 shares of the company’s stock valued at $430,000 after purchasing an additional 3,255 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Sony during the 2nd quarter worth approximately $26,058,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Sony

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony’s new VENICE 2 v5.00 firmware update has arrived as promised and adds a Signature preset, a small but favorable sign of continued support for its professional cinema camera line. Sony VENICE 2 v5.00 firmware arrives as promised, adds Signature preset
• Positive Sentiment: Reviews highlighting Sony’s BRAVIA 7 II 4K TV and broader “best 4K TV” shopping coverage may help reinforce the company’s TV brand and demand for premium home entertainment products. ‘Jaw dropped’: Tech expert reviews Sony BRAVIA 7 II 4K TV
• Positive Sentiment: Sony’s WH-1000XM6 headphones were highlighted in a deal article, which can keep the company’s audio products in front of consumers and support accessory sales. Sony WH-1000XM6 Headphones Just Got Cheaper Again, Unlike AirPods Max 2 on Amazon
• Positive Sentiment: Sony is reportedly returning to the professional IEM market with the IER-M500, suggesting continued investment in high-margin audio niches. Sony returns to the professional IEM market with the IER-M500
• Neutral Sentiment: Coverage comparing Sony camera models and shopping guides for 4K TVs is generally informational and unlikely to move the stock materially on its own. Sony RX10 IV Vs RX10 V: How Do These All-In-One Super Zoom Cameras Compare?
• Neutral Sentiment: Reports that Sony is pursuing Letterboxd while Netflix is also interested are notable for its entertainment strategy, but no deal has been announced. Letterboxd could find a new home at Netflix, but Sony is fighting for it too
• Negative Sentiment: Sony’s FlexStrike PS5 fight stick has been delayed indefinitely, which could disappoint gaming accessory buyers and point to execution issues in its PlayStation hardware lineup. Sony’s FlexStrike PS5 Fight Stick Delayed Indefinitely, Now Launches After Marvel Tokon
• Negative Sentiment: Legal and regulatory headlines around Sony’s move away from physical PlayStation game releases add uncertainty, even though EU authorities said they cannot stop the shift. EU says it can’t stop Sony from ending physical PlayStation game releases
• Negative Sentiment: Separate reporting on lawsuits tied to Sony’s physical disc strategy suggests possible legal overhang for the gaming business. Here Come the Lawsuits! Sony’s Physical Disc Debacle Likely to Keep Its Lawyers Busy

Sony Stock Performance

NYSE SONY opened at $20.82 on Wednesday. The firm’s fifty day moving average price is $21.21 and its two-hundred day moving average price is $21.89. The stock has a market cap of $123.04 billion, a PE ratio of -104.12, a PEG ratio of 1.64 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. Sony Corporation has a fifty-two week low of $19.32 and a fifty-two week high of $30.34.

Sony (NYSE:SONY) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). Sony had a negative net margin of 2.61% and a positive return on equity of 12.20%. The firm had revenue of $19.15 billion during the quarter, compared to the consensus estimate of $18.43 billion. During the same quarter in the previous year, the company posted $32.86 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Sony Corporation will post 1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ravi Ahuja sold 36,826 shares of Sony stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $21.08, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenichiro Yoshida sold 400,000 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $22.61, for a total value of $9,044,000.00. Following the sale, the director owned 661,615 shares in the company, valued at approximately $14,959,115.15. This trade represents a 37.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 771,838 shares of company stock worth $16,866,580. Company insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

SONY has been the topic of several recent research reports. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $22.00 target price (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sony in a research note on Wednesday, May 20th. Finally, Benchmark reissued a “buy” rating on shares of Sony in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sony currently has a consensus rating of “Hold” and an average price target of $22.00.

Sony 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.