Sony Corporation $SONY Shares Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. reduced its position in Sony Corporation (NYSE:SONY) by 2.6% during the third quarter, Holdings Channel.com reports. The firm owned 831,569 shares of the company’s stock after selling 22,563 shares during the quarter. Sony accounts for approximately 1.8% of Cabot Wealth Management Inc.’s holdings, making the stock its 15th biggest position. Cabot Wealth Management Inc.’s holdings in Sony were worth $19,567,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE raised its holdings in Sony by 9.1% during the first 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 during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Sony in the first quarter valued at $39,998,000. WCM Investment Management LLC grew its holdings in shares of Sony by 337.6% during the first quarter. WCM Investment Management LLC now owns 1,949,592 shares of the company’s stock valued at $38,836,000 after buying an additional 1,504,035 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in shares of Sony by 0.9% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 1,163,910 shares of the company’s stock valued at $27,387,000 after buying an additional 10,587 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of Sony by 17.8% during the first quarter. Quantinno Capital Management LP now owns 1,036,782 shares of the company’s stock valued at $21,461,000 after buying an additional 156,464 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Insiders Place Their Bets

In other Sony news, insider Kenji Tanaka sold 20,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $23.83, for a total value of $476,600.00. Following the completion of the sale, the insider directly owned 43,899 shares of the company’s stock, valued at approximately $1,046,113.17. This represents a 31.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.00% of the company’s stock.

Recent Sony Headlines

Investors following SONY have been watching these headlines:

• Positive Sentiment: A Zacks article describes SONY as a long-term momentum stock, offering a favorable screening signal, though it does not identify a new company-specific catalyst. Why Sony is a Top Momentum Stock for the Long-Term
• Neutral Sentiment: Sony is retiring its little-used PlayStation Plus PC app in December. The limited usage may reduce the business impact, but the move reinforces a pullback from PC cloud-streaming access. PlayStation Plus PC App Will Go Offline December 10
• Negative Sentiment: Sony canceled the live-service game Fairgame$, while reports say its $220 Pulse Elevate speakers have been delayed indefinitely because of a production issue. These setbacks raise concerns about product execution and the return on gaming investments. Sony Cancels Live-Service PS5 Game Fairgames Sony’s PlayStation Pulse Elevate speakers delayed indefinitely

Sony Price Performance

SONY opened at $26.52 on Thursday. Sony Corporation has a 1 year low of $19.32 and a 1 year high of $30.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 0.96. The company has a market capitalization of $156.71 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 1.63 and a beta of 0.98. The firm’s fifty day moving average price is $24.61 and its two-hundred day moving average price is $22.44.

Sony (NYSE:SONY) last announced its earnings results on Thursday, November 5th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.38 by $0.11. Sony had a negative net margin of 1.54% and a positive return on equity of 14.20%. The company had revenue of $21.77 billion during the quarter, compared to the consensus estimate of $20.15 billion. During the same quarter in the prior year, the company posted $60.10 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts anticipate that Sony Corporation will post 1.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Benchmark reissued a “buy” rating on shares of Sony in a research report on Monday, August 3rd. Zacks Research downgraded Sony from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 30th. Sanford C. Bernstein reissued a “market perform” rating and set a $26.00 price objective on shares of Sony in a report on Thursday, November 5th. Weiss Ratings raised Sony from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Finally, Wall Street Zen downgraded Sony from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.00.

About Sony

Sony Group Corporation is a Japan-based global entertainment and technology company, founded in Tokyo in 1946 by Masaru Ibuka and Akio Morita. Initially known as Tokyo Tsushin Kogyo, the company adopted the name Sony in 1958. Sony’s businesses include video games and network services through PlayStation; music recording and publishing; film and television production and distribution; consumer electronics, including televisions and cameras; and imaging and sensing technologies, including image sensors.