Parallel Advisors LLC grew its holdings in Sony Corp (NYSE:SNE) by 150.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,012 shares of the company’s stock after buying an additional 3,009 shares during the quarter. Parallel Advisors LLC’s holdings in Sony were worth $296,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in SNE. Bank of America Corp DE increased its position in Sony by 54.3% in the second quarter. Bank of America Corp DE now owns 5,654,760 shares of the company’s stock worth $296,254,000 after purchasing an additional 1,991,129 shares during the period. BlackRock Inc. increased its position in Sony by 361.1% in the second quarter. BlackRock Inc. now owns 4,035,069 shares of the company’s stock worth $211,397,000 after purchasing an additional 3,159,926 shares during the period. Soroban Capital Partners LP increased its position in Sony by 31.2% in the second quarter. Soroban Capital Partners LP now owns 3,831,895 shares of the company’s stock worth $200,753,000 after purchasing an additional 910,786 shares during the period. Renaissance Technologies LLC increased its position in Sony by 18.3% in the second quarter. Renaissance Technologies LLC now owns 3,712,000 shares of the company’s stock worth $194,472,000 after purchasing an additional 573,000 shares during the period. Finally, Suvretta Capital Management LLC acquired a new stake in Sony in the second quarter worth about $162,743,000. Institutional investors own 8.87% of the company’s stock.
A number of brokerages recently commented on SNE. UBS Group upgraded Sony from a “neutral” rating to a “buy” rating in a research report on Thursday, October 31st. Gabelli began coverage on Sony in a research report on Thursday, October 24th. They issued a “buy” rating and a $92.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Sony currently has a consensus rating of “Buy” and a consensus target price of $60.74.
Shares of Sony stock traded up $0.01 during trading on Friday, hitting $60.41. 933,034 shares of the company were exchanged, compared to its average volume of 1,357,628. The firm has a market capitalization of $75.27 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.39. Sony Corp has a 1-year low of $41.91 and a 1-year high of $61.85. The firm’s fifty day moving average price is $59.15 and its 200 day moving average price is $54.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.73.
Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.
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