Sony Group (NYSE:SONY) Shares Gap Up to $92.81

Shares of Sony Group Co. (NYSE:SONY) gapped up prior to trading on Tuesday . The stock had previously closed at $92.81, but opened at $95.25. Sony Group shares last traded at $95.58, with a volume of 108,268 shares.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Sony Group Stock Performance

The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $88.47 and a 200-day simple moving average of $85.99. The firm has a market cap of $119.40 billion, a P/E ratio of 17.78 and a beta of 0.94.

Sony Group shares are going to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be payable to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. The company had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. On average, sell-side analysts predict that Sony Group Co. will post 5.68 EPS for the current fiscal year.

Institutional Trading of Sony Group

A number of hedge funds and other institutional investors have recently modified their holdings of SONY. Wells Fargo & Company MN grew its position in shares of Sony Group by 4.7% during the fourth quarter. Wells Fargo & Company MN now owns 532,329 shares of the company’s stock worth $50,406,000 after purchasing an additional 23,724 shares in the last quarter. US Bancorp DE grew its holdings in Sony Group by 75.3% during the 4th quarter. US Bancorp DE now owns 128,351 shares of the company’s stock valued at $12,154,000 after buying an additional 55,129 shares in the last quarter. Everpar Advisors LLC bought a new stake in shares of Sony Group during the fourth quarter valued at approximately $907,000. Ethic Inc. lifted its holdings in shares of Sony Group by 18.0% in the fourth quarter. Ethic Inc. now owns 119,939 shares of the company’s stock worth $11,357,000 after buying an additional 18,334 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Sony Group during the fourth quarter worth $1,153,000. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Company 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.