Electronic Arts Inc. (EA) Shares Bought by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC lifted its position in Electronic Arts Inc. (NASDAQ:EA) by 12.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,741,644 shares of the game software company’s stock after acquiring an additional 199,073 shares during the period. TIAA CREF Investment Management LLC owned 0.56% of Electronic Arts worth $184,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of EA. BlackRock Inc. boosted its stake in shares of Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock worth $1,858,837,000 after acquiring an additional 20,174,721 shares during the last quarter. Winslow Capital Management LLC lifted its position in Electronic Arts by 1,869,551.3% during the first quarter. Winslow Capital Management LLC now owns 2,879,263 shares of the game software company’s stock worth $257,751,000 after buying an additional 2,879,109 shares in the last quarter. Vanguard Group Inc. lifted its position in Electronic Arts by 8.8% during the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock worth $2,652,637,000 after buying an additional 2,394,314 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Electronic Arts by 24.8% during the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock worth $845,359,000 after buying an additional 1,877,351 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Electronic Arts by 174.5% during the first quarter. AQR Capital Management LLC now owns 2,180,565 shares of the game software company’s stock worth $195,204,000 after buying an additional 1,386,296 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.
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A number of equities analysts recently commented on EA shares. Vetr downgraded Electronic Arts from a “buy” rating to a “hold” rating and set a $109.98 price objective on the stock. in a research report on Monday, May 22nd. Credit Suisse Group reiterated a “buy” rating and set a $114.00 price objective on shares of Electronic Arts in a research report on Sunday, May 28th. Morgan Stanley lifted their price objective on Electronic Arts from $114.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 7th. Mizuho reiterated a “buy” rating and set a $115.00 price objective on shares of Electronic Arts in a research report on Monday, June 12th. Finally, BidaskClub downgraded Electronic Arts from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $117.01.
Electronic Arts Inc. (EA) traded down 0.38% on Wednesday, hitting $119.95. The stock had a trading volume of 333,774 shares. The company’s 50-day moving average is $117.63 and its 200-day moving average is $104.65. 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 $37.03 billion, a P/E ratio of 32.12 and a beta of 0.68.
Electronic Arts (NASDAQ:EA) last announced 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 $775.00 million for the quarter, compared to analyst estimates of $768.47 million. During the same period in the previous year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.
In related news, EVP Patrick Soderlund sold 50,000 shares of Electronic Arts stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $111.32, for a total value of $5,566,000.00. Following the completion of the transaction, the executive vice president now directly owns 139,507 shares in the company, valued at $15,529,919.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake J. Jorgensen sold 10,000 shares of Electronic Arts stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $107.90, for a total value of $1,079,000.00. Following the completion of the transaction, the chief financial officer now owns 229,614 shares of the company’s stock, valued at $24,775,350.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 355,097 shares of company stock worth $40,795,378. Corporate insiders own 2.55% 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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