Assetmark Inc. Sells 28,605 Shares of Sony Corporation $SONY

Assetmark Inc. lowered its position in Sony Corporation (NYSE:SONY) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,661,788 shares of the company’s stock after selling 28,605 shares during the quarter. Assetmark Inc.’s holdings in Sony were worth $34,399,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its position in Sony by 4.1% during the 4th quarter. Fisher Asset Management LLC now owns 108,981,588 shares of the company’s stock worth $2,789,929,000 after buying an additional 4,337,062 shares during the period. Clark Capital Management Group Inc. bought a new stake in shares of Sony in the fourth quarter worth $47,989,000. UBS Group AG increased its holdings in Sony by 165.4% in the fourth quarter. UBS Group AG now owns 2,742,402 shares of the company’s stock valued at $70,205,000 after purchasing an additional 1,709,003 shares during the period. Capital International Investors raised its position in Sony by 23.1% during the 4th quarter. Capital International Investors now owns 7,446,889 shares of the company’s stock worth $191,534,000 after purchasing an additional 1,397,271 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new position in Sony during the 1st quarter worth $23,933,000. Institutional investors own 14.05% of the company’s stock.

Insider Buying and Selling

In related news, insider Ravi Ahuja sold 36,826 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $21.08, for a total value of $776,292.08. Following the completion of the sale, the insider directly owned 58,786 shares of the company’s stock, valued at $1,239,208.88. The trade was a 38.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hiroki Totoki sold 225,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,641,715. This trade represents a 56.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 771,838 shares of company stock worth $16,866,580 over the last 90 days. 7.00% of the stock is owned by company insiders.

Sony Stock Down 1.1%

Sony stock opened at $21.16 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.18 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $124.99 billion, a PE ratio of -105.77, a PEG ratio of 1.70 and a beta of 0.94. The firm’s fifty day moving average is $21.26 and its 200 day moving average is $21.82. Sony Corporation has a 12-month low of $19.32 and a 12-month high of $30.34.

Sony (NYSE:SONY) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $19.15 billion during the quarter, compared to the consensus estimate of $18.43 billion. During the same period last year, the firm posted $32.86 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that Sony Corporation will post 1.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. 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 research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.00.

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.