Sony (NYSE:SONY) CEO Sells 225,000 Shares of Stock

Sony Corporation (NYSE:SONY) CEO Hiroki Totoki sold 225,000 shares of the company’s stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of $21.02, for a total value of $4,729,500.00. Following the transaction, the chief executive officer directly owned 173,250 shares of the company’s stock, valued at $3,641,715. This represents a 56.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Sony Stock Up 1.2%

Shares of SONY stock traded up $0.26 during trading on Tuesday, reaching $21.41. The company’s stock had a trading volume of 2,350,009 shares, compared to its average volume of 6,291,482. Sony Corporation has a one year low of $19.32 and a one year high of $30.34. The business has a fifty day moving average price of $21.10 and a 200-day moving average price of $22.09. The company has a market cap of $126.52 billion, a price-to-earnings ratio of -107.02, a price-to-earnings-growth ratio of 1.65 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 issued its quarterly earnings results on Friday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.13). The company had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.43 billion. Sony had a negative net margin of 2.61% and a positive return on equity of 12.20%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company posted $32.86 earnings per share. Analysts anticipate that Sony Corporation will post 1.28 earnings per share for the current year.

Hedge Funds Weigh In On Sony

Hedge funds have recently bought and sold shares of the company. YANKCOM Partnership raised its position in Sony by 748.7% during the 4th quarter. YANKCOM Partnership now owns 976 shares of the company’s stock worth $25,000 after purchasing an additional 861 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Sony in the 4th quarter valued at about $27,000. Elyxium Wealth LLC bought a new stake in shares of Sony in the 4th quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Sony by 404.1% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,109 shares of the company’s stock valued at $28,000 after buying an additional 889 shares during the period. Finally, Twin Tree Management LP increased its stake in shares of Sony by 4,218.5% in the fourth quarter. Twin Tree Management LP now owns 1,112 shares of the company’s stock valued at $28,000 after buying an additional 1,139 shares during the period. 14.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.