Electronic Arts Inc. (EA) Holdings Cut by Meiji Yasuda Life Insurance Co
Meiji Yasuda Life Insurance Co decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 34.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,970 shares of the game software company’s stock after selling 7,500 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Electronic Arts were worth $1,477,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. D. Scott Neal Inc. purchased a new stake in shares of Electronic Arts during the 2nd quarter worth approximately $120,000. Guardian Life Insurance Co. of America boosted its stake in shares of Electronic Arts by 2.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock worth $107,000 after acquiring an additional 34 shares in the last quarter. Invictus RG boosted its stake in shares of Electronic Arts by 722.0% during the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after acquiring an additional 1,148 shares in the last quarter. Cedar Capital LLC purchased a new stake in shares of Electronic Arts during the 2nd quarter worth approximately $232,000. Finally, Commerce Bank purchased a new stake in shares of Electronic Arts during the 1st quarter worth approximately $203,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.
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A number of equities research analysts recently issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Electronic Arts in a research note on Thursday. BidaskClub raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Friday. Zacks Investment Research lowered Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Robert W. Baird reaffirmed an “outperform” rating and issued a $130.00 target price (up previously from $115.00) on shares of Electronic Arts in a research note on Sunday, July 30th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $106.00 target price (up previously from $90.00) on shares of Electronic Arts in a research note on Sunday, July 30th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Electronic Arts has a consensus rating of “Buy” and an average price target of $115.97.
In related news, CEO Andrew Wilson sold 100,000 shares of Electronic Arts stock in a transaction on Friday, June 16th. The shares were sold at an average price of $111.31, for a total value of $11,131,000.00. Following the completion of the sale, the chief executive officer now owns 100,000 shares of the company’s stock, valued at approximately $11,131,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Blake J. Jorgensen sold 10,000 shares of Electronic Arts stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $107.90, for a total transaction of $1,079,000.00. Following the completion of the sale, the chief financial officer now directly owns 229,614 shares of the company’s stock, valued at approximately $24,775,350.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 333,539 shares of company stock valued at $38,242,133. 2.55% of the stock is owned by company insiders.
Electronic Arts Inc. (NASDAQ:EA) traded down 1.80% during mid-day trading on Monday, hitting $119.31. The stock had a trading volume of 2,751,464 shares. The firm’s 50-day moving average is $116.33 and its 200 day moving average is $103.28. Electronic Arts Inc. has a one year low of $73.74 and a one year high of $122.79. The stock has a market cap of $36.83 billion, a PE ratio of 31.94 and a beta of 0.68.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The business had revenue of $775 million during the quarter, compared to analyst estimates of $768.47 million. During the same quarter in the previous year, the business earned $0.07 EPS. Electronic Arts’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts expect that Electronic Arts Inc. will post $4.24 EPS for the current year.
Electronic Arts declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 9th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the game software company to buy up to 45% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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