Fmr LLC Sells 477,666 Shares of Sony Group Co. (NYSE:SONY)

FMR LLC lowered its stake in shares of Sony Group Co. (NYSE:SONY - Free Report) by 31.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,051,132 shares of the company's stock after selling 477,666 shares during the quarter. FMR LLC's holdings in Sony Group were worth $101,508,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SONY. Fisher Asset Management LLC raised its position in Sony Group by 12.7% in the 3rd quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company's stock worth $834,013,000 after purchasing an additional 972,075 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Sony Group during the third quarter worth $109,462,000. Marshall Wace LLP lifted its stake in shares of Sony Group by 8,495.0% during the second quarter. Marshall Wace LLP now owns 848,414 shares of the company's stock valued at $72,073,000 after acquiring an additional 838,543 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Sony Group by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 637,656 shares of the company's stock valued at $61,579,000 after acquiring an additional 2,974 shares during the last quarter. Finally, Sei Investments Co. increased its position in Sony Group by 3.5% in the second quarter. Sei Investments Co. now owns 611,514 shares of the company's stock worth $51,946,000 after purchasing an additional 20,802 shares during the period. 14.05% of the stock is owned by institutional investors.

Sony Group Trading Down 0.4 %

Shares of Sony Group stock traded down $0.09 during trading hours on Thursday, hitting $20.90. The company's stock had a trading volume of 3,634,449 shares, compared to its average volume of 3,829,387. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $21.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The company has a market capitalization of $126.40 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 12.97 and a beta of 0.98. The stock has a 50 day moving average of $18.19 and a 200 day moving average of $8.65.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SONY shares. TD Cowen reduced their target price on shares of Sony Group from $107.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. StockNews.com downgraded Sony Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 19th. Daiwa America raised Sony Group to a "strong-buy" rating in a research note on Wednesday, September 18th. Finally, Oppenheimer cut their target price on Sony Group from $108.00 to $25.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $24.00.

Sony Group 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.