Ravi Ahuja Sells 36,826 Shares of Sony (NYSE:SONY) Stock

Sony Corporation (NYSE:SONY) insider Ravi Ahuja sold 36,826 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $21.08, for a total value of $776,292.08. Following the transaction, the insider owned 58,786 shares of the company’s stock, valued at $1,239,208.88. This trade represents a 38.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sony Price Performance

NYSE:SONY traded down $0.18 during trading hours on Wednesday, reaching $21.21. The company had a trading volume of 3,253,118 shares, compared to its average volume of 6,286,879. The company has a quick ratio of 0.94, a current ratio of 1.18 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $21.12 and a two-hundred day moving average of $22.05. Sony Corporation has a one year low of $19.32 and a one year high of $30.34. The firm has a market capitalization of $125.34 billion, a PE ratio of -106.12, a PEG ratio of 1.68 and a beta of 0.94.

Sony (NYSE:SONY) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). The company had revenue of $19.15 billion for the quarter, compared to the consensus estimate of $18.43 billion. Sony had a negative net margin of 2.61% and a positive return on equity of 12.20%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $32.86 earnings per share. Analysts forecast that Sony Corporation will post 1.28 earnings per share for the current year.

Key Headlines Impacting Sony

Here are the key news stories impacting Sony this week:

• Negative Sentiment: Jermaine Dupri filed an $18 million lawsuit against Sony over alleged unpaid royalties, raising legal and financial uncertainty for the company’s music division. Jermaine Dupri Files $18 Million Breach of Contract Suit Against Sony Over Alleged Unpaid Royalties
• Negative Sentiment: Sony CEO Hiroki Totoki sold 225,000 shares and insider Toshimoto Mitomo sold 25,000 shares, which may be viewed as a negative signal by investors. Insider Selling: Sony (NYSE:SONY) Insider Sells 25,000 Shares
• Negative Sentiment: Backlash continues over Sony’s reported push away from PlayStation discs, adding to concerns about its gaming strategy and consumer goodwill. The backlash against Sony ditching PlayStation discs is not letting up
• Neutral Sentiment: Sony is still drawing attention for product news, including a leaked OLED TV and strong reviews for its Bravia display technology, but these stories are not likely to move the stock on their own. Sony has leaked its new OLED TV, and I’m excited and disappointed in equal measure

Hedge Funds Weigh In On Sony

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWA Asset Management Group LLC bought a new position in shares of Sony during the fourth quarter worth about $2,922,000. Brighton Jones LLC raised its holdings in shares of Sony by 422.0% in the fourth quarter. Brighton Jones LLC now owns 19,908 shares of the company’s stock valued at $421,000 after purchasing an additional 16,094 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Sony by 28.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 973,178 shares of the company’s stock worth $24,913,000 after purchasing an additional 212,971 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in Sony by 338.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 295,454 shares of the company’s stock worth $6,116,000 after purchasing an additional 228,108 shares during the last quarter. Finally, Capital International Investors grew its position in Sony by 245.0% in the third quarter. Capital International Investors now owns 6,049,618 shares of the company’s stock valued at $176,044,000 after purchasing an additional 4,296,028 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SONY has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sony in a research report on Wednesday, May 20th. Benchmark restated a “buy” rating on shares of Sony in a research report on Monday, May 11th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $22.00 price objective (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.00.

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.