Sony Corporation $SONY Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its position in shares of Sony Corporation (NYSE:SONY) by 10.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,062 shares of the company’s stock after selling 11,671 shares during the period. Avantax Advisory Services Inc.’s holdings in Sony were worth $2,683,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SONY. Northern Trust Corp raised its position in shares of Sony by 3.4% during the 1st quarter. Northern Trust Corp now owns 7,845,521 shares of the company’s stock valued at $199,198,000 after buying an additional 257,838 shares during the period. Wellington Management Group LLP purchased a new position in Sony in the first quarter worth approximately $78,905,000. Ameriprise Financial Inc. increased its stake in Sony by 124.5% during the first quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company’s stock worth $52,814,000 after acquiring an additional 1,142,849 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Sony by 4,056.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,973,638 shares of the company’s stock valued at $50,269,000 after purchasing an additional 1,926,156 shares during the period. Finally, Raymond James Financial Inc. raised its position in Sony by 0.4% in the first quarter. Raymond James Financial Inc. now owns 1,753,173 shares of the company’s stock valued at $44,513,000 after purchasing an additional 6,297 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SONY shares. Cfra Research upgraded Sony to a “moderate buy” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sony in a research note on Wednesday, October 8th. Zacks Research raised shares of Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Nomura upgraded shares of Sony from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, Wolfe Research upgraded shares of Sony from a “peer perform” rating to an “outperform” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $33.00.

Sony Trading Down 2.7%

Shares of SONY stock opened at $27.79 on Friday. Sony Corporation has a fifty-two week low of $18.97 and a fifty-two week high of $30.34. The company has a 50 day moving average price of $28.94 and a 200 day moving average price of $27.01. The stock has a market capitalization of $168.03 billion, a P/E ratio of 22.05 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09.

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.