Commerce Bank Takes $231,000 Position in Sony Group Co. (NYSE:SONY)

Commerce Bank acquired a new stake in Sony Group Co. (NYSE:SONY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,397 shares of the company’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Sony Group in the second quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in Sony Group in the second quarter worth about $41,000. Family Firm Inc. bought a new position in Sony Group in the second quarter worth about $44,000. Hobbs Group Advisors LLC bought a new position in Sony Group in the second quarter worth about $49,000. Finally, Hexagon Capital Partners LLC raised its holdings in Sony Group by 38.6% in the third quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock worth $81,000 after purchasing an additional 233 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. 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 reduced 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. Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Oppenheimer reduced their target price 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 investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sony Group has a consensus rating of “Buy” and an average price target of $24.00.

Sony Group Price Performance

Shares of SONY stock opened at $19.76 on Thursday. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $20.67. The firm has a market capitalization of $119.47 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 12.30 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The stock’s 50-day simple moving average is $16.22 and its 200-day simple moving average is $7.98.

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.