Envestnet Portfolio Solutions Inc. Sells 91,958 Shares of Sony Corporation (NYSE:SONY)

Envestnet Portfolio Solutions Inc. cut its position in shares of Sony Corporation (NYSE:SONY) by 55.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,570 shares of the company’s stock after selling 91,958 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Sony were worth $1,868,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SONY. Wedmont Private Capital boosted its holdings in Sony by 3.6% in the first quarter. Wedmont Private Capital now owns 16,108 shares of the company’s stock worth $409,000 after acquiring an additional 555 shares in the last quarter. Optas LLC boosted its holdings in Sony by 3.7% in the first quarter. Optas LLC now owns 18,558 shares of the company’s stock worth $471,000 after acquiring an additional 655 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Sony by 4.1% in the first quarter. Sivia Capital Partners LLC now owns 17,841 shares of the company’s stock worth $453,000 after acquiring an additional 706 shares in the last quarter. FCA Corp TX boosted its holdings in Sony by 22.5% in the fourth quarter. FCA Corp TX now owns 4,900 shares of the company’s stock worth $104,000 after acquiring an additional 900 shares in the last quarter. Finally, Capital Analysts LLC boosted its holdings in Sony by 400.0% in the fourth quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after acquiring an additional 936 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SONY has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Sony in a report on Tuesday, March 25th. They set a “buy” rating on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Sony in a report on Monday, April 7th. Finally, Wall Street Zen downgraded Sony from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sony presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Sony Stock Performance

Shares of SONY opened at $24.42 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.70 and a debt-to-equity ratio of 0.24. The business has a 50-day simple moving average of $25.38 and a two-hundred day simple moving average of $23.64. The stock has a market cap of $147.68 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 11.92 and a beta of 0.96. Sony Corporation has a 52 week low of $15.96 and a 52 week high of $26.95.

Sony Company Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.