Envestnet Asset Management Inc. Purchases 5,718,378 Shares of Sony Group Co. (NYSE:SONY)

Envestnet Asset Management Inc. lifted its position in shares of Sony Group Co. (NYSE:SONY) by 401.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 about 0.12% of Sony Group worth $151,119,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Silicon Valley Capital Partners grew its position in Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after buying an additional 927 shares in the last quarter. General Partner Inc. grew its holdings in shares of Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock worth $26,000 after purchasing an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Sony Group during the 4th quarter worth $26,000. Fairscale Capital LLC increased its position in shares of Sony Group by 400.0% in the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock worth $26,000 after purchasing an additional 992 shares during the period. Finally, Accent Capital Management LLC raised its stake in Sony Group by 400.0% in the fourth quarter. Accent Capital Management LLC now owns 1,380 shares of the company’s stock valued at $29,000 after purchasing an additional 1,104 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wolfe Research reissued a “peer perform” rating on shares of Sony Group in a report on Monday. The Goldman Sachs Group began coverage on shares of Sony Group in a research note on Tuesday, March 25th. They issued a “buy” rating on the stock. Oppenheimer restated an “outperform” rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Sanford C. Bernstein began coverage on Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.00.

Sony Group Stock Performance

Shares of Sony Group stock opened at $21.24 on Tuesday. The company’s 50 day moving average price is $23.91 and its two-hundred day moving average price is $20.56. The firm has a market capitalization of $128.44 billion, a P/E ratio of 17.24, a P/E/G ratio of 9.95 and a beta of 0.94. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

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

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.