Leonteq Securities AG lowered its holdings in shares of Sony Corporation (NYSE:SONY – Free Report) by 76.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 16,296 shares of the company’s stock after selling 51,529 shares during the period. Leonteq Securities AG’s holdings in Sony were worth $337,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC raised its position in shares of Sony by 3.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 11,655 shares of the company’s stock valued at $298,000 after buying an additional 409 shares during the last quarter. Glenmede Investment Management LP lifted its stake in Sony by 1.0% in the 3rd quarter. Glenmede Investment Management LP now owns 42,478 shares of the company’s stock worth $1,223,000 after purchasing an additional 416 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Sony by 1.1% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,335 shares of the company’s stock valued at $1,033,000 after purchasing an additional 433 shares during the last quarter. Nicolet Advisory Services LLC grew its position in shares of Sony by 2.5% during the fourth quarter. Nicolet Advisory Services LLC now owns 18,097 shares of the company’s stock valued at $456,000 after purchasing an additional 440 shares in the last quarter. Finally, Binnacle Investments Inc grew its position in shares of Sony by 81.7% during the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock valued at $30,000 after purchasing an additional 464 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Sony in a research note on Wednesday, May 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $22.00 price objective (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th. Finally, Benchmark reaffirmed a “buy” rating on shares of Sony in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sony presently has a consensus rating of “Hold” and an average price target of $22.00.
Key Sony News
Here are the key news stories impacting Sony this week:
- Positive Sentiment: Sony’s shift away from physical PlayStation discs could improve margins over time by reducing manufacturing, packaging, and logistics costs, and it signals a more digital-focused business model for future console generations. Sony is first console giant to stop making physical games
- Positive Sentiment: One report noted Sony’s stock climbed after the all-digital announcement, suggesting investors may be focusing on the long-term financial benefits of the transition rather than the fan backlash. Sony Stock Climbs After PlayStation’s All-Digital Announcement Despite Fan Backlash
- Neutral Sentiment: Former Sony leadership comments that PlayStation’s disc-less strategy could influence Xbox and Nintendo reinforce the idea that Sony is setting an industry trend, but this is more of a strategic headline than an immediate earnings catalyst. PlayStation’s disc-less future could heavily influence Xbox and Nintendo, former Sony boss says
- Negative Sentiment: The move has triggered strong backlash from gamers and media coverage portraying Sony as abandoning physical ownership, which could create reputational noise and pressure around the PlayStation brand in the near term. Brands smell blood in the water after PlayStation axes game discs — and they’re roasting Sony for it
Insider Buying and Selling at Sony
In other news, Director Kenichiro Yoshida sold 400,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $22.61, for a total value of $9,044,000.00. Following the completion of the sale, the director owned 661,615 shares in the company, valued at approximately $14,959,115.15. This trade represents a 37.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tsuyoshi Kodera sold 51,000 shares of Sony stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $20.54, for a total transaction of $1,047,540.00. Following the transaction, the insider directly owned 27,553 shares of the company’s stock, valued at approximately $565,938.62. This represents a 64.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 468,500 shares of company stock valued at $10,487,215 over the last ninety days. 7.00% of the stock is owned by insiders.
Sony Trading Down 0.0%
Shares of SONY stock opened at $20.79 on Monday. Sony Corporation has a 1 year low of $19.32 and a 1 year high of $30.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.18 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $21.09 and its two-hundred day simple moving average is $22.12. The company has a market cap of $122.81 billion, a PE ratio of -103.93, a price-to-earnings-growth ratio of 1.65 and a beta of 0.94.
Sony (NYSE:SONY – Get Free Report) last announced its earnings results on Friday, May 8th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The company had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.43 billion. During the same quarter last year, the firm posted $32.86 EPS. Sony’s revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts predict that Sony Corporation will post 1.28 earnings per share for the current year.
Sony Company Profile
Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.
Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.
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