Confluence Investment Management LLC Grows Stake in Sony Group Co. (NYSE:SONY)

Confluence Investment Management LLC boosted its stake in Sony Group Co. (NYSE:SONY - Free Report) by 401.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,135 shares of the company's stock after purchasing an additional 34,533 shares during the period. Confluence Investment Management LLC's holdings in Sony Group were worth $913,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Hexagon Capital Partners LLC grew its stake in Sony Group by 38.6% during the third quarter. Hexagon Capital Partners LLC now owns 836 shares of the company's stock worth $81,000 after purchasing an additional 233 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Sony Group by 106.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company's stock worth $134,000 after buying an additional 716 shares during the period. Drive Wealth Management LLC bought a new stake in shares of Sony Group in the 3rd quarter valued at $201,000. CreativeOne Wealth LLC bought a new stake in shares of Sony Group in the 3rd quarter valued at $201,000. Finally, Meyer Handelman Co. acquired a new position in shares of Sony Group during the 3rd quarter valued at $202,000. 14.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Sony Group Stock Performance

SONY traded up $0.23 during trading on Friday, hitting $21.32. 2,296,394 shares of the company traded hands, compared to its average volume of 2,469,197. Sony Group Co. has a one year low of $15.02 and a one year high of $22.71. The stock's fifty day moving average is $19.96 and its 200 day moving average is $11.37. 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 firm has a market cap of $128.94 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 13.74 and a beta of 0.98.

Sony Group 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.