Envestnet Asset Management Inc. Has $151.12 Million Stake in Sony Group Co. (NYSE:SONY)

Envestnet Asset Management Inc. raised its stake in shares of Sony Group Co. (NYSE:SONY) by 401.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,141,717 shares of the company’s stock after purchasing an additional 5,718,378 shares during the period. Envestnet Asset Management Inc.’s holdings in Sony Group were worth $151,119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA increased its position in shares of Sony Group by 379.5% during the fourth quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after buying an additional 80,724,932 shares during the period. Fisher Asset Management LLC grew its holdings in Sony Group by 425.9% during the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after acquiring an additional 36,783,737 shares during the period. Mondrian Investment Partners LTD raised its position in shares of Sony Group by 358.2% in the 4th quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock worth $223,039,000 after acquiring an additional 7,925,643 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Sony Group by 383.5% in the 4th quarter. Clearbridge Investments LLC now owns 5,929,924 shares of the company’s stock valued at $125,477,000 after purchasing an additional 4,703,571 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Sony Group by 362.7% during the 4th quarter. Sei Investments Co. now owns 3,245,587 shares of the company’s stock valued at $68,677,000 after purchasing an additional 2,544,193 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SONY. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wolfe Research reiterated a “peer perform” rating on shares of Sony Group in a research report on Monday. Oppenheimer restated an “outperform” rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. The Goldman Sachs Group started coverage on shares of Sony Group in a report on Tuesday, March 25th. They set a “buy” rating on the stock. Finally, Sanford C. Bernstein initiated coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sony Group has an average rating of “Moderate Buy” and an average price target of $28.00.

Sony Group Stock Performance

Shares of SONY stock opened at $21.24 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $23.91 and a two-hundred day simple moving average of $20.56. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.78. The firm has a market capitalization of $128.44 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 9.95 and a beta of 0.94.

Sony Group (NYSE:SONY) last posted its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. Analysts forecast that Sony Group Co. will post 1.23 EPS for the current fiscal year.

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.