State Street Corp Cuts Stake in Electronic Arts Inc. (EA)
State Street Corp decreased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 1.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,729,195 shares of the game software company’s stock after selling 157,263 shares during the period. State Street Corp owned approximately 3.80% of Electronic Arts worth $1,240,016,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. D. Scott Neal Inc. purchased a new stake in shares of Electronic Arts in the 2nd quarter valued at $120,000. Guardian Life Insurance Co. of America boosted its stake in shares of Electronic Arts by 2.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after purchasing an additional 34 shares in the last quarter. Invictus RG boosted its stake in shares of Electronic Arts by 722.0% in the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after purchasing an additional 1,148 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Electronic Arts in the 2nd quarter valued at $195,000. Finally, King Luther Capital Management Corp purchased a new stake in shares of Electronic Arts in the 2nd quarter valued at $224,000. 93.84% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on EA. Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Electronic Arts in a research note on Thursday, August 31st. BidaskClub upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Benchmark Co. upped their price target on shares of Electronic Arts from $136.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. Buckingham Research initiated coverage on shares of Electronic Arts in a report on Wednesday, September 20th. They set a “buy” rating and a $143.00 price target for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $127.00 price target on shares of Electronic Arts in a report on Friday. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $120.93.
Shares of Electronic Arts Inc. (NASDAQ EA) traded up 0.48% during mid-day trading on Friday, reaching $120.09. 1,912,895 shares of the company traded hands. The firm has a 50 day moving average of $118.53 and a 200-day moving average of $108.45. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $122.79. The stock has a market capitalization of $37.08 billion, a PE ratio of 32.15 and a beta of 0.69.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $775.00 million during the quarter, compared to the consensus estimate of $768.47 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts expect that Electronic Arts Inc. will post $4.25 EPS for the current fiscal year.
In other news, Director Lawrence F. Probst III sold 68,072 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $118.83, for a total value of $8,088,995.76. Following the completion of the sale, the director now owns 176,348 shares of the company’s stock, valued at $20,955,432.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Blake J. Jorgensen sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $118.43, for a total value of $1,184,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 207,096 shares of company stock valued at $24,570,436. 2.55% of the stock is owned by company insiders.
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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