Electronic Arts Inc. (EA) Position Reduced by Wealth Architects LLC
Wealth Architects LLC lessened its stake in Electronic Arts Inc. (NASDAQ:EA) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,056 shares of the game software company’s stock after selling 3 shares during the quarter. Wealth Architects LLC’s holdings in Electronic Arts were worth $534,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stephens Investment Management Group LLC boosted its stake in Electronic Arts by 0.4% during the 2nd quarter. Stephens Investment Management Group LLC now owns 152,370 shares of the game software company’s stock worth $16,109,000 after purchasing an additional 639 shares during the last quarter. Jasper Ridge Partners L.P. boosted its stake in Electronic Arts by 21.5% during the 2nd quarter. Jasper Ridge Partners L.P. now owns 13,896 shares of the game software company’s stock worth $1,469,000 after purchasing an additional 2,459 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Electronic Arts by 57.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 14,644 shares of the game software company’s stock worth $1,548,000 after purchasing an additional 5,354 shares during the last quarter. AJO LP acquired a new stake in Electronic Arts during the 2nd quarter worth $4,140,000. Finally, Coastline Trust Co boosted its stake in Electronic Arts by 8.1% during the 2nd quarter. Coastline Trust Co now owns 20,885 shares of the game software company’s stock worth $2,208,000 after purchasing an additional 1,570 shares during the last quarter. 93.89% of the stock is owned by institutional investors.
Electronic Arts Inc. (NASDAQ EA) traded up 1.14% on Monday, reaching $119.63. The company’s stock had a trading volume of 711,642 shares. The firm has a market capitalization of $36.93 billion, a P/E ratio of 32.03 and a beta of 0.68. Electronic Arts Inc. has a 52-week low of $73.74 and a 52-week high of $122.79. The firm has a 50-day moving average price of $117.53 and a 200 day moving average price of $104.40.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.22. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The business had revenue of $775 million during the quarter, compared to analysts’ expectations of $768.47 million. During the same period in the prior year, the firm posted $0.07 EPS. Electronic Arts’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.
EA has been the topic of several recent research reports. Benchmark Co. lifted their target price on shares of Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Credit Suisse Group reissued a “buy” rating and set a $114.00 price target on shares of Electronic Arts in a research report on Sunday, May 28th. Vetr cut shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $109.98 price target on the stock. in a research report on Monday, May 22nd. KeyCorp reissued a “buy” rating and set a $134.00 price target on shares of Electronic Arts in a research report on Friday, August 25th. Finally, Zacks Investment Research cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $116.77.
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In related news, EVP Patrick Soderlund sold 50,000 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $111.32, for a total transaction of $5,566,000.00. Following the completion of the sale, the executive vice president now directly owns 139,507 shares of the company’s stock, valued at approximately $15,529,919.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 9,059 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $105.91, for a total value of $959,438.69. The disclosure for this sale can be found here. Over the last three months, insiders sold 345,097 shares of company stock valued at $39,623,978. 2.55% of the stock is currently owned by insiders.
Electronic Arts 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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