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Sony Corporation (ADR) (SNE)’s PlayStation 4 Tops 40 Million Sales, On Record Pace

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Sony Corporation (ADR) (NYSE:SNE) is flat today after the company announced on Thursday that it has now sold more than 40 million units of the latest version of its flagship gaming console, the PlayStation 4. Despite gaming analysts predicting a decade ago that we wouldn’t even see a PS4 and that console gaming would be dead by now, Sony’s console is actually outpacing the sales of its previous three iterations, including the 150-million-unit-selling PS2. Sony expects to ship 20 million consoles during its 2016 fiscal year, which began April 1, 2016 and ends March 31, 2017. PS4 software sales stand at 270.9 million as of May 22. The gaming division’s strong performance has been a huge boon for Sony, with the division’s operating profit expected to account for half of that of the entire company for the ongoing fiscal year.

We can judge whether Sony Corporation (ADR) (NYSE:SNE) is a good investment right now by following the lead of some of the best investors in the world and piggybacking their ideas. There’s no better way to get these firms’ immense resources and analytical capabilities working for us than to follow their lead into their best ideas. While not all of these picks will be winners, research shows that these picks historically outperformed the market when we factor in known risk factors.

Sony Corporation (ADR) (NYSE:SNE) shareholders have witnessed a decrease in support from the world’s most elite money managers recently. SNE was in 18 hedge funds’ portfolios at the end of March. There were 20 hedge funds in our database with SNE holdings at the end of the previous quarter. At the end of this article we will also compare SNE to other stocks including Prudential Financial Inc (NYSE:PRU), Becton, Dickinson and Co. (NYSE:BDX), and Liberty Global PLC LiLAC Class C (NASDAQ:LILAK) to get a better sense of its popularity.

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When looking at the institutional investors followed by Insider Monkey, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Sony Corporation (ADR) (NYSE:SNE). Renaissance Technologies has a $50.8 million position in the stock, comprising 0.1% of its 13F portfolio. Coming in second is Israel Englander of Millennium Management, with a $15 million position; less than 0.1% of its 13F portfolio is allocated to the stock. Other members of the smart money with similar optimism comprise David Halpert’s Prince Street Capital Management, D E Shaw, founded by David E. Shaw, and David Costen Haley’s HBK Investments.

On the next page we’ll look at some funds that sold out off positions in Sony during Q1, as well as compare the stock to a handful of others with similar market caps.

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