Key Points
- Sony CEO Hiroki Totoki sold 225,000 shares on July 3 at an average price of $21.02, totaling about $4.73 million. After the sale, he still owned 173,250 shares, a 56.5% reduction in his stake.
- Sony shares were up 1.1% and opened at $21.39, near the stock’s 50-day moving average of $21.12 and below its 200-day average of $22.05.
- Sony’s latest earnings showed mixed results: revenue beat expectations at $19.15 billion and rose 8.3% year over year, but EPS of $0.09 missed estimates. Wall Street currently has a Hold consensus rating with a $22 price target.
Sony Corporation (NYSE:SONY - Get Free Report) insider Toshimoto Mitomo sold 25,000 shares of the business's stock in a transaction on Friday, July 3rd. The stock was sold at an average price of $21.02, for a total value of $525,500.00. Following the sale, the insider owned 115,700 shares in the company, valued at approximately $2,432,014. The trade was a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Sony Trading Up 1.1%
Shares of SONY stock opened at $21.39 on Wednesday. Sony Corporation has a fifty-two week low of $19.32 and a fifty-two week high of $30.34. The stock has a market cap of $126.40 billion, a P/E ratio of -106.97, a P/E/G ratio of 1.68 and a beta of 0.94. The business has a fifty day simple moving average of $21.12 and a 200-day simple moving average of $22.05. The company has a quick ratio of 0.94, a current ratio of 1.18 and a debt-to-equity ratio of 0.10.
Sony (NYSE:SONY - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported $0.09 EPS 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 positive return on equity of 12.20% and a negative net margin of 2.61%.Sony's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $32.86 earnings per share. On average, analysts forecast that Sony Corporation will post 1.28 earnings per share for the current fiscal year.
Institutional Trading of Sony
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SONY. YANKCOM Partnership increased its stake in shares of Sony by 748.7% during the 4th quarter. YANKCOM Partnership now owns 976 shares of the company's stock valued at $25,000 after acquiring an additional 861 shares during the last quarter. Ameriflex Group Inc. boosted its position in shares of Sony by 304.0% in the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company's stock worth $29,000 after acquiring an additional 760 shares during the last quarter. Binnacle Investments Inc boosted its position in shares of Sony by 81.7% in the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company's stock worth $30,000 after acquiring an additional 464 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Sony in the fourth quarter valued at approximately $27,000. Finally, Elyxium Wealth LLC acquired a new position in Sony during the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 14.05% of the company's stock.
Key Stories Impacting Sony
Here are the key news stories impacting Sony this week:
- Negative Sentiment: Sony’s CEO Hiroki Totoki sold 225,000 shares, while insider Toshimoto Mitomo sold 25,000 shares, adding pressure to investor sentiment around the stock. Hiroki Totoki Sells 225,000 Shares of Sony (NYSE:SONY) Stock
- Negative Sentiment: Jermaine Dupri filed an $18 million lawsuit against Sony over alleged unpaid royalties, which could add legal and financial uncertainty for Sony’s music business. Jermaine Dupri Files $18 Million Breach of Contract Suit Against Sony Over Alleged Unpaid Royalties
- Negative Sentiment: Backlash continues over Sony’s reported plan to phase out physical PlayStation discs, which could hurt gamer goodwill and reinforce concerns about its gaming strategy. The backlash against Sony ditching PlayStation discs is not slowing down
- Neutral Sentiment: Sony is getting attention for new hardware products, including a leaked OLED TV and a Bravia TV review highlighting advanced display technology, but these are not major earnings drivers on their own. Sony has leaked its new OLED TV, and I’m excited and disappointed in equal measure
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. Sanford C. Bernstein restated a "market perform" rating and set a $22.00 price objective (down from $30.00) on shares of Sony in a research report on Tuesday, March 17th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Sony in a report on Wednesday, May 20th. Finally, Benchmark reissued a "buy" rating on shares of Sony in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sony presently has an average rating of "Hold" and an average target price of $22.00.
Read Our Latest Stock Analysis on Sony
About Sony
(
Get Free Report)
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.
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