2,875 Shares in Electronic Arts Inc. (EA) Acquired by Ballentine Partners LLC
Ballentine Partners LLC bought a new position in Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,875 shares of the game software company’s stock, valued at approximately $325,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America increased its position 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 worth $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 last quarter. D. Scott Neal Inc. bought a new stake in Electronic Arts during the second quarter valued at $120,000. Commerce Bank bought a new stake in Electronic Arts during the first quarter valued at $203,000. Finally, Intrust Bank NA bought a new stake in Electronic Arts during the first quarter valued at $204,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.
Electronic Arts Inc. (NASDAQ EA) opened at 116.88 on Friday. The company has a market capitalization of $36.08 billion, a PE ratio of 31.29 and a beta of 0.72. Electronic Arts Inc. has a 12-month low of $73.74 and a 12-month high of $120.25. The stock’s 50 day moving average price is $113.30 and its 200 day moving average price is $100.72.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.22. The firm had revenue of $775 million for 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 business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. On average, equities analysts anticipate that Electronic Arts Inc. will post $4.24 EPS for the current fiscal year.
Electronic Arts declared that its board has initiated a share repurchase plan on Tuesday, May 9th that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the game software company to repurchase up to 45% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
Several analysts recently weighed in on EA shares. Jefferies Group LLC restated a “buy” rating and issued a $123.00 price target (up previously from $110.00) on shares of Electronic Arts in a research note on Wednesday, May 10th. Mizuho set a $115.00 price target on Electronic Arts and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Vetr upgraded Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price target on the stock in a research note on Monday, May 8th. Piper Jaffray Companies restated a “buy” rating and issued a $99.00 price target on shares of Electronic Arts in a research note on Monday, May 1st. Finally, MKM Partners restated a “buy” rating and issued a $109.00 price target (up previously from $95.00) on shares of Electronic Arts in a research note on Friday, May 5th. Five investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Electronic Arts presently has a consensus rating of “Buy” and a consensus target price of $115.19.
In related news, CEO Andrew Wilson sold 100,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 100,000 shares in the company, valued at $11,131,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Denise Warren sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $108.84, for a total transaction of $108,840.00. Following the transaction, the director now owns 13,665 shares of the company’s stock, valued at $1,487,298.60. The disclosure for this sale can be found here. Insiders have sold 337,624 shares of company stock worth $38,078,825 over the last three months. Corporate 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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