Sony Corporation $SONY Stock Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC grew its position in shares of Sony Corporation (NYSE:SONY) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,614,725 shares of the company’s stock after acquiring an additional 1,397,912 shares during the quarter. Fisher Asset Management LLC’s holdings in Sony were worth $2,673,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in Sony during the 1st quarter valued at $39,998,000. WCM Investment Management LLC lifted its stake in shares of Sony by 337.6% in 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 in the last quarter. Bank of America Corp DE lifted its stake in shares of Sony by 9.1% in the first quarter. Bank of America Corp DE now owns 16,992,579 shares of the company’s stock valued at $351,746,000 after buying an additional 1,413,785 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Sony during the first quarter valued at about $15,716,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Sony during the first quarter valued at about $13,558,000. 14.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SONY. Wall Street Zen lowered shares of Sony from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. 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 research note on Monday. Benchmark restated a “buy” rating on shares of Sony in a report on Monday, August 3rd. Finally, Zacks Research downgraded Sony from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 30th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sony currently has an average rating of “Hold” and an average target price of $26.00.

Insider Buying and Selling

In other Sony news, insider Kenji Tanaka sold 20,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.83, for a total value of $476,600.00. Following the transaction, the insider owned 43,899 shares of the company’s stock, valued at approximately $1,046,113.17. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.00% of the company’s stock.

Sony Price Performance

Sony stock opened at $26.66 on Friday. Sony Corporation has a 52 week low of $19.32 and a 52 week high of $30.33. The company’s 50 day moving average price is $24.65 and its two-hundred day moving average price is $22.46. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The stock has a market cap of $157.54 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.62 and a beta of 0.98.

Sony (NYSE:SONY) last announced its earnings results on Thursday, November 5th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. The firm had revenue of $21.77 billion for the quarter, compared to the consensus estimate of $20.15 billion. Sony had a positive return on equity of 14.20% and a negative net margin of 1.54%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $60.10 EPS. On average, equities analysts predict that Sony Corporation will post 1.46 earnings per share for the current year.

Sony News Summary

Investors following SONY have been watching these news items:

• Positive Sentiment: Sony’s PlayStation 5 has passed 100 million units sold or shipped, a milestone that underscores the platform’s large installed base and potential to drive game, subscription, and accessory revenue. PS5 Passes 100 Million Units as Sony Lays Groundwork for Its Next Console
• Negative Sentiment: Sony has canceled its unreleased live-service game Fairgame$. The move avoids further development spending, but also reflects difficulty converting its live-service ambitions into releases and potential revenue. Reports say the cancellation did not involve layoffs. Sony Cancels Live-Service PS5 Game Fairgames, But No Layoffs
• Negative Sentiment: Sony plans to discontinue its PlayStation Plus streaming app for PC, ending cloud streaming on Windows. This reduces the service’s reach, though reports characterize PC app usage as limited, which may constrain the financial impact. Sony is discontinuing its PlayStation Plus streaming app on PC

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.