Sony (NYSE:SONY) Insider Toshimoto Mitomo Sells 25,000 Shares of Stock

Sony Corporation (NYSE:SONY) insider Toshimoto Mitomo sold 25,000 shares of Sony stock in a transaction on Friday, July 3rd. The shares were sold at an average price of $21.02, for a total value of $525,500.00. Following the sale, the insider directly owned 115,700 shares of the company’s stock, valued at $2,432,014. This represents a 17.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Sony Price Performance

Sony stock traded up $0.26 during midday trading on Tuesday, hitting $21.41. 2,350,009 shares of the company’s stock were exchanged, compared to its average volume of 6,291,482. The company has a market cap of $126.52 billion, a P/E ratio of -107.07, a PEG ratio of 1.65 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 1.18. The stock has a 50-day moving average price of $21.10 and a two-hundred day moving average price of $22.09. Sony Corporation has a 52-week low of $19.32 and a 52-week high of $30.34.

Sony (NYSE:SONY) last released 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). The business had revenue of $19.15 billion during the quarter, compared to analysts’ expectations 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 was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $32.86 EPS. On average, equities research analysts forecast that Sony Corporation will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Benchmark reiterated a “buy” rating on shares of Sony in a research report on Monday, May 11th. Sanford C. Bernstein reissued a “market perform” rating and issued a $22.00 price target (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Sony in a research report on Wednesday, May 20th. 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 company currently has an average rating of “Hold” and a consensus price target of $22.00.

Hedge Funds Weigh In On Sony

Several institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC raised its holdings in 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. Bank of America Corp DE grew its holdings in Sony by 9.1% in the 1st quarter. Bank of America Corp DE now owns 16,992,579 shares of the company’s stock worth $351,746,000 after acquiring an additional 1,413,785 shares during the last quarter. Capital International Investors grew its holdings in Sony by 23.1% in the 4th quarter. Capital International Investors now owns 7,446,889 shares of the company’s stock worth $191,534,000 after acquiring an additional 1,397,271 shares during the last quarter. Royal Bank of Canada increased its position in shares of Sony by 10.7% in the fourth quarter. Royal Bank of Canada now owns 6,778,922 shares of the company’s stock valued at $173,539,000 after acquiring an additional 657,655 shares during the period. Finally, Capital World Investors raised its stake in shares of Sony by 1.5% during the fourth quarter. Capital World Investors now owns 5,076,516 shares of the company’s stock valued at $129,973,000 after acquiring an additional 74,768 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors.

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.