Electronic Arts Inc. (EA) Position Lowered by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,978 shares of the game software company’s stock after selling 6,674 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.08% of Electronic Arts worth $21,434,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Archford Capital Strategies LLC increased its position in Electronic Arts by 1,407.3% in the second quarter. Archford Capital Strategies LLC now owns 1,447 shares of the game software company’s stock worth $110,000 after buying an additional 1,351 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Electronic Arts during the second quarter worth about $168,000. SSI Investment Management Inc. purchased a new position in Electronic Arts during the second quarter worth about $200,000. Stratos Wealth Partners LTD. purchased a new position in Electronic Arts during the second quarter worth about $202,000. Finally, Wetherby Asset Management Inc. purchased a new position in Electronic Arts during the second quarter worth about $239,000. Institutional investors and hedge funds own 98.98% of the company’s stock.
Shares of Electronic Arts Inc. (NASDAQ:EA) opened at 78.99 on Friday. The firm’s 50-day moving average price is $81.61 and its 200-day moving average price is $78.36. Electronic Arts Inc. has a 52-week low of $53.01 and a 52-week high of $86.07. The stock has a market cap of $23.84 billion, a P/E ratio of 20.13 and a beta of 0.58.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, November 1st. The game software company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.56. Electronic Arts had a net margin of 27.62% and a return on equity of 23.03%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company posted $0.65 EPS. Electronic Arts’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts forecast that Electronic Arts Inc. will post $3.70 earnings per share for the current fiscal year.
EA has been the topic of a number of research reports. Vetr upgraded Electronic Arts from a “hold” rating to a “buy” rating and set a $90.20 price target on the stock in a research note on Monday, September 26th. Oppenheimer Holdings Inc. raised their price target on Electronic Arts from $88.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday, October 14th. Zacks Investment Research downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Morgan Stanley initiated coverage on Electronic Arts in a research note on Friday, September 23rd. They set an “overweight” rating and a $101.00 price target on the stock. Finally, Mizuho restated a “buy” rating and set a $84.00 price target on shares of Electronic Arts in a research note on Monday, October 31st. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $89.93.
In other news, EVP Laura Miele sold 2,600 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $82.21, for a total value of $213,746.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Samantha S. Smith sold 2,721 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $76.78, for a total transaction of $208,918.38. The disclosure for this sale can be found here. Insiders own 3.46% of the company’s stock.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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