Envestnet Asset Management Inc. Grows Position in Sony Group Co. (NYSE:SONY)

Envestnet Asset Management Inc. boosted its position in shares of Sony Group Co. (NYSE:SONY - Free Report) by 401.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,141,717 shares of the company's stock after buying an additional 5,718,378 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of Sony Group worth $151,119,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sit Investment Associates Inc. grew its position in shares of Sony Group by 400.0% in the 4th quarter. Sit Investment Associates Inc. now owns 252,000 shares of the company's stock worth $5,332,000 after buying an additional 201,600 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Sony Group by 374.3% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 73,349 shares of the company's stock valued at $1,552,000 after purchasing an additional 57,884 shares in the last quarter. Ovata Capital Management Ltd increased its position in shares of Sony Group by 288.4% during the fourth quarter. Ovata Capital Management Ltd now owns 44,165 shares of the company's stock valued at $949,000 after buying an additional 32,795 shares during the period. Riverwater Partners LLC lifted its holdings in Sony Group by 400.0% in the fourth quarter. Riverwater Partners LLC now owns 26,600 shares of the company's stock worth $563,000 after buying an additional 21,280 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Sony Group by 375.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,893,656 shares of the company's stock worth $61,230,000 after acquiring an additional 2,285,637 shares during the period. Hedge funds and other institutional investors own 14.05% of the company's stock.

Wall Street Analyst Weigh In

SONY has been the topic of several research reports. Oppenheimer restated an "outperform" rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. The Goldman Sachs Group initiated coverage on shares of Sony Group 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 Group in a research report on Monday, April 7th. StockNews.com cut shares of Sony Group from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Sanford C. Bernstein began coverage on shares of Sony Group in a research note on Thursday, January 16th. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Sony Group Stock Up 0.1 %

Shares of NYSE SONY traded up $0.03 during trading on Friday, reaching $22.95. The company had a trading volume of 4,791,142 shares, compared to its average volume of 4,155,889. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.78. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The business's 50-day moving average is $23.94 and its 200 day moving average is $21.22. The stock has a market cap of $138.81 billion, a PE ratio of 18.63, a P/E/G ratio of 9.95 and a beta of 0.94.

Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. The company had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. As a group, equities analysts forecast that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

About Sony Group

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.