Drive Wealth Management LLC Takes Position in Sony Group Co. (NYSE:SONY)

Drive Wealth Management LLC purchased a new position in shares of Sony Group Co. (NYSE:SONY) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 2,079 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its holdings in Sony Group by 6.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,460 shares of the company’s stock valued at $211,000 after purchasing an additional 150 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Sony Group by 7.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 72,705 shares of the company’s stock valued at $6,234,000 after buying an additional 5,187 shares during the period. Lake Street Advisors Group LLC boosted its stake in shares of Sony Group by 9.0% in the first quarter. Lake Street Advisors Group LLC now owns 11,374 shares of the company’s stock valued at $975,000 after buying an additional 936 shares in the last quarter. Pitcairn Co. grew its holdings in Sony Group by 62.0% during the first quarter. Pitcairn Co. now owns 27,821 shares of the company’s stock worth $2,385,000 after acquiring an additional 10,650 shares during the period. Finally, MQS Management LLC purchased a new position in Sony Group in the first quarter worth $408,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Trading Up 2.8 %

Shares of SONY stock opened at $18.97 on Tuesday. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $20.67. The company has a market capitalization of $114.72 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 11.69 and a beta of 0.95. The firm has a 50-day moving average price of $14.36 and a 200 day moving average price of $7.30. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Analyst Ratings Changes

Several equities research analysts have commented on SONY shares. Oppenheimer decreased their target price on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. TD Cowen dropped their target price 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. StockNews.com downgraded shares of Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $24.00.

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.