Electronic Arts Inc. (EA) Position Boosted by State of Wisconsin Investment Board
State of Wisconsin Investment Board raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 21.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 364,182 shares of the game software company’s stock after buying an additional 65,022 shares during the period. State of Wisconsin Investment Board’s holdings in Electronic Arts were worth $38,501,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Guardian Life Insurance Co. of America increased its stake in Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after buying an additional 34 shares during the period. Invictus RG increased its stake in Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after buying an additional 1,148 shares during the period. D. Scott Neal Inc. bought a new stake in Electronic Arts during the second quarter valued at about $120,000. Commerce Bank bought a new stake in Electronic Arts during the first quarter valued at about $203,000. Finally, Intrust Bank NA bought a new stake in Electronic Arts during the first quarter valued at about $204,000. 97.31% of the stock is currently owned by hedge funds and other institutional investors.
Electronic Arts Inc. (NASDAQ:EA) opened at 117.43 on Wednesday. Electronic Arts Inc. has a 12-month low of $73.74 and a 12-month high of $120.25. The company’s 50-day moving average price is $112.48 and its 200-day moving average price is $100.24. The company has a market cap of $36.25 billion, a PE ratio of 31.44 and a beta of 0.72.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The firm had revenue of $775 million during the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. Equities analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current year.
Electronic Arts declared that its board has approved a stock buyback program on Tuesday, May 9th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the game software company to purchase up to 45% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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Several research firms recently weighed in on EA. Credit Suisse Group reissued a “buy” rating and set a $114.00 price objective on shares of Electronic Arts in a research report on Sunday, May 28th. Benchmark Co. upped their price target on Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a report on Tuesday, June 20th. Vetr raised Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price target for the company in a report on Monday, May 8th. Robert W. Baird reaffirmed an “outperform” rating on shares of Electronic Arts in a report on Thursday, May 11th. Finally, Zacks Investment Research cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Electronic Arts currently has a consensus rating of “Buy” and an average price target of $115.19.
In other news, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $104.56, for a total transaction of $1,045,600.00. Following the completion of the transaction, the chief financial officer now directly owns 239,614 shares of the company’s stock, valued at approximately $25,054,039.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 100,000 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $111.31, for a total transaction of $11,131,000.00. Following the transaction, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at $11,131,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 281,752 shares of company stock valued at $31,271,313. Company insiders own 2.55% of the company’s stock.
Electronic Arts Company Profile
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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