Adero Partners LLC Buys New Shares in Sony Group Co. (NYSE:SONY)

Adero Partners LLC acquired a new stake in Sony Group Co. (NYSE:SONY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,373 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Y.D. More Investments Ltd boosted its holdings in shares of Sony Group by 400.0% during the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock worth $763,000 after buying an additional 28,852 shares during the period. Pictet North America Advisors SA boosted its holdings in shares of Sony Group by 19.4% during the 3rd quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock worth $23,561,000 after buying an additional 39,688 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Sony Group by 311.3% during the 4th quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock worth $3,337,000 after buying an additional 119,362 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Sony Group by 430.0% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock worth $854,000 after buying an additional 32,725 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of Sony Group by 39.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock worth $9,993,000 after buying an additional 29,165 shares during the period. Institutional investors own 14.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SONY shares. StockNews.com downgraded shares of Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. TD Cowen cut their price target on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a report on Friday, October 11th. Sanford C. Bernstein began coverage on shares of Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, Oppenheimer cut their price target on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $24.00.

Sony Group Price Performance

Shares of NYSE:SONY opened at $23.02 on Friday. The company has a market cap of $139.19 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 10.96 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The firm has a 50 day simple moving average of $21.20 and a 200 day simple moving average of $14.32. Sony Group Co. has a one year low of $15.02 and a one year high of $23.05.

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.