Sony Group Co. (NYSE:SONY) Stock Position Increased by Sit Investment Associates Inc.

Sit Investment Associates Inc. grew its position in Sony Group Co. (NYSE:SONY) by 400.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 252,000 shares of the company’s stock after purchasing an additional 201,600 shares during the period. Sit Investment Associates Inc.’s holdings in Sony Group were worth $5,332,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Sony Group by 25.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 79,211 shares of the company’s stock valued at $7,649,000 after purchasing an additional 16,073 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in shares of Sony Group during the 3rd quarter worth about $403,000. HighTower Advisors LLC raised its position in shares of Sony Group by 34.0% during the 3rd quarter. HighTower Advisors LLC now owns 43,341 shares of the company’s stock worth $4,188,000 after buying an additional 10,994 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in shares of Sony Group in the 3rd quarter worth approximately $385,000. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Sony Group by 2.0% in the third quarter. Orion Portfolio Solutions LLC now owns 66,919 shares of the company’s stock valued at $6,462,000 after acquiring an additional 1,287 shares in the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SONY. Sanford C. Bernstein initiated coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. The Goldman Sachs Group began coverage on Sony Group in a report on Tuesday, March 25th. They issued a “buy” rating for the company. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $28.00.

Sony Group Price Performance

SONY stock opened at $21.81 on Friday. Sony Group Co. has a one year low of $15.02 and a one year high of $25.78. The firm has a 50-day moving average of $23.90 and a two-hundred day moving average of $20.32. The firm has a market capitalization of $131.90 billion, a PE ratio of 17.70, a P/E/G ratio of 9.95 and a beta of 0.94. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

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

About Sony Group

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.