Handelsbanken Fonder AB Sells 140,000 Shares of Sony Group Co. (NYSE:SONY)

Handelsbanken Fonder AB lowered its position in Sony Group Co. (NYSE:SONY) by 22.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 480,000 shares of the company’s stock after selling 140,000 shares during the period. Handelsbanken Fonder AB’s holdings in Sony Group were worth $12,187,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital Analysts LLC raised its position in Sony Group by 400.0% in the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after purchasing an additional 936 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Sony Group in the 4th quarter worth approximately $26,000. Fairscale Capital LLC raised its position in Sony Group by 400.0% in the 4th 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 last quarter. Accent Capital Management LLC raised its position in Sony Group by 400.0% in the 4th quarter. Accent Capital Management LLC now owns 1,380 shares of the company’s stock worth $29,000 after purchasing an additional 1,104 shares during the last quarter. Finally, City Holding Co. bought a new position in Sony Group in the 1st quarter worth approximately $30,000. Institutional investors own 14.05% of the company’s stock.

Sony Group Stock Performance

Shares of Sony Group stock opened at $25.92 on Thursday. The firm has a fifty day moving average of $24.87 and a two-hundred day moving average of $23.29. The stock has a market capitalization of $156.73 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 9.95 and a beta of 0.96. Sony Group Co. has a 52 week low of $15.86 and a 52 week high of $26.95. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66.

Wall Street Analysts Forecast Growth

SONY has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Sony Group in a research report on Tuesday, March 25th. They issued a “buy” rating for the company. Oppenheimer restated an “outperform” rating and issued a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Wolfe Research reaffirmed a “peer perform” rating on shares of Sony Group in a report on Monday, April 7th. Finally, Wall Street Zen cut shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.00.

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.