Sony Corporation (NYSE:SONY - Get Free Report) insider Jonathan Jose Platt sold 16,512 shares of the firm's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $21.08, for a total value of $348,072.96. Following the completion of the sale, the insider owned 83,326 shares of the company's stock, valued at approximately $1,756,512.08. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Sony Stock Performance
Shares of Sony stock opened at $21.18 on Thursday. The business has a 50-day simple moving average of $21.14 and a 200 day simple moving average of $22.02. Sony Corporation has a one year low of $19.32 and a one year high of $30.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.18 and a quick ratio of 0.94. The firm has a market capitalization of $125.16 billion, a price-to-earnings ratio of -105.92, a PEG ratio of 1.70 and a beta of 0.94.
Sony (NYSE:SONY - Get Free Report) last announced its quarterly 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 firm had revenue of $19.15 billion during 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 firm's revenue was up 8.3% on a year-over-year basis. On average, research analysts anticipate that Sony Corporation will post 1.28 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Benchmark reissued a "buy" rating on shares of Sony in a research report on Monday, May 11th. Weiss Ratings restated a "sell (d+)" rating on shares of Sony in a report on Wednesday, May 20th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $22.00 price objective (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $22.00.
Read Our Latest Research Report on Sony
Institutional Trading of Sony
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. YANKCOM Partnership raised its stake in shares of Sony by 748.7% in the fourth quarter. YANKCOM Partnership now owns 976 shares of the company's stock worth $25,000 after purchasing an additional 861 shares during the last quarter. Ameriflex Group Inc. boosted its position in shares of Sony by 304.0% during the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company's stock valued at $29,000 after buying an additional 760 shares during the last quarter. Binnacle Investments Inc boosted its position in shares of Sony by 81.7% during the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company's stock valued at $30,000 after buying an additional 464 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Sony during the fourth quarter worth $27,000. Finally, Elyxium Wealth LLC bought a new stake in Sony during the fourth quarter worth $27,000. 14.05% of the stock is owned by institutional investors.
Sony News Roundup
Here are the key news stories impacting Sony this week:
- Negative Sentiment: Sony CEO Hiroki Totoki sold 225,000 shares, while another insider, Toshimoto Mitomo, sold 25,000 shares. Large insider sales can weigh on sentiment because investors often view them as a lack of confidence or simple profit-taking. 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, creating legal uncertainty for Sony Music and raising concerns about possible costs or reputational damage. Jermaine Dupri sues Sony Music for $18 million in unpaid royalties
- Negative Sentiment: Backlash continues over reports that Sony is moving away from physical PlayStation discs, which could hurt gamer goodwill and add concerns about the company’s long-term gaming strategy. Don't Kill The Disc Petition Urging Sony To Preserve Physical Media On PS6 Breaks 120,000 Signatures
- Neutral Sentiment: Sony continues to attract attention for product news, including a leaked OLED TV and reviews of its Bravia lineup, but these stories are not likely to move the stock much on their own. Sony Bravia 9 II review
Sony Company Profile
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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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