Sequoia Financial Advisors LLC Has $3.55 Million Stock Position in Sony Corporation $SONY

Sequoia Financial Advisors LLC raised its position in Sony Corporation (NYSE:SONY) by 37.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,616 shares of the company’s stock after purchasing an additional 46,450 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Sony were worth $3,552,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its holdings in shares of Sony by 4.1% during the 4th quarter. Fisher Asset Management LLC now owns 108,981,588 shares of the company’s stock valued at $2,789,929,000 after buying an additional 4,337,062 shares during the last quarter. Clark Capital Management Group Inc. acquired a new position in Sony in the fourth quarter worth approximately $47,989,000. CIBC Bancorp USA Inc. bought a new position in Sony during the third quarter valued at approximately $50,560,000. UBS Group AG raised its position in Sony by 165.4% during the fourth quarter. UBS Group AG now owns 2,742,402 shares of the company’s stock valued at $70,205,000 after acquiring an additional 1,709,003 shares in the last quarter. Finally, Capital International Investors lifted its stake in Sony by 23.1% in the fourth quarter. Capital International Investors now owns 7,446,889 shares of the company’s stock valued at $191,534,000 after acquiring an additional 1,397,271 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Sanford C. Bernstein reissued a “market perform” rating and issued a $22.00 target price (down from $30.00) on shares of Sony in a research report on Tuesday, March 17th. Weiss Ratings restated a “sell (d+)” rating on shares of Sony in a report on Wednesday, May 20th. Finally, Benchmark reaffirmed a “buy” rating on shares of Sony in a research note 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.00.

Sony News Roundup

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony’s VENICE 2 firmware v5.00 has rolled out as promised, adding a new Signature preset that should support professional camera users and reinforce the company’s position in high-end imaging. Sony VENICE 2 v5.00 firmware arrives as promised, adds Signature preset
• Positive Sentiment: Sony is also being highlighted in consumer-tech coverage for products like its BRAVIA 7 II TV and 4K TV lineup, which can help support brand visibility in its TV and electronics businesses. ‘Jaw dropped’: Tech expert reviews Sony BRAVIA 7 II 4K TV
• Positive Sentiment: Sony is reportedly competing with Netflix for Letterboxd, suggesting the company is still active in content and media dealmaking that could expand its entertainment footprint. Letterboxd could find a new home at Netflix, but Sony is fighting for it too

Insiders Place Their Bets

In related news, insider Ravi Ahuja sold 36,826 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $21.08, for a total value of $776,292.08. Following the transaction, the insider directly owned 58,786 shares in the company, valued at approximately $1,239,208.88. This trade represents a 38.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hiroki Totoki sold 225,000 shares of Sony stock in a transaction on Friday, July 3rd. The stock was sold at an average price of $21.02, for a total transaction of $4,729,500.00. Following the completion of the transaction, the chief executive officer owned 173,250 shares in the company, valued at $3,641,715. This trade represents a 56.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 771,838 shares of company stock valued at $16,866,580 in the last three months. Company insiders own 7.00% of the company’s stock.

Sony Stock Down 0.8%

Shares of SONY stock opened at $20.68 on Tuesday. The stock’s 50 day simple moving average is $21.20 and its 200 day simple moving average is $21.92. 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 twelve month low of $19.32 and a twelve month high of $30.34. The company has a market capitalization of $122.21 billion, a price-to-earnings ratio of -103.42, a PEG ratio of 1.66 and a beta of 0.94.

Sony (NYSE:SONY) last posted its 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 positive return on equity of 12.20% and a negative net margin of 2.61%.The company had revenue of $19.15 billion during the quarter, compared to analyst estimates of $18.43 billion. During the same quarter last year, the firm posted $32.86 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts predict that Sony Corporation will post 1.28 EPS for the current year.

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.