Ravi Ahuja Sells 36,826 Shares of Sony (NYSE:SONY) Stock

Sony Corporation (NYSE:SONY) insider Ravi Ahuja sold 36,826 shares of the 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 transaction, the insider owned 58,786 shares of the company’s stock, valued at approximately $1,239,208.88. This represents a 38.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sony Stock Down 0.9%

Shares of NYSE:SONY traded down $0.18 during midday trading on Wednesday, reaching $21.21. The company had a trading volume of 3,253,118 shares, compared to its average volume of 6,286,879. 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 business’s 50 day moving average price is $21.12 and its 200 day moving average price is $22.05. The stock has a market cap of $125.34 billion, a PE ratio of -106.12, a P/E/G ratio of 1.68 and a beta of 0.94. Sony Corporation has a 1-year low of $19.32 and a 1-year high of $30.34.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. YANKCOM Partnership increased its holdings in shares of Sony by 748.7% during the 4th quarter. YANKCOM Partnership now owns 976 shares of the company’s stock worth $25,000 after acquiring an additional 861 shares during the last quarter. Ameriflex Group Inc. boosted its position in Sony by 304.0% during the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $29,000 after purchasing an additional 760 shares during the period. Binnacle Investments Inc increased its holdings in shares of Sony by 81.7% in the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock valued at $30,000 after purchasing an additional 464 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Sony in the 4th quarter valued at about $27,000. Finally, Elyxium Wealth LLC bought a new stake in Sony during the fourth quarter worth about $27,000. 14.05% of the stock is currently owned by institutional investors.

Sony News Summary

Here are the key news stories impacting Sony this week:

• Negative Sentiment: Jermaine Dupri filed an $18 million lawsuit against Sony over alleged unpaid royalties, raising legal and financial uncertainty for the company’s music division. Jermaine Dupri Files $18 Million Breach of Contract Suit Against Sony Over Alleged Unpaid Royalties
• Negative Sentiment: Sony CEO Hiroki Totoki sold 225,000 shares and insider Toshimoto Mitomo sold 25,000 shares, which may be viewed as a negative signal by investors. Insider Selling: Sony (NYSE:SONY) Insider Sells 25,000 Shares
• Negative Sentiment: Backlash continues over Sony’s reported push away from PlayStation discs, adding to concerns about its gaming strategy and consumer goodwill. The backlash against Sony ditching PlayStation discs is not letting up
• Neutral Sentiment: Sony is still drawing attention for product news, including a leaked OLED TV and strong reviews for its Bravia display technology, but these stories are not likely to move the stock on their own. Sony has leaked its new OLED TV, and I’m excited and disappointed in equal measure

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.