Retirement Systems of Alabama Lowers Stake in Electronic Arts Inc. $EA

Retirement Systems of Alabama lessened its holdings in Electronic Arts Inc. (NASDAQ:EA) by 91.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,037 shares of the game software company’s stock after selling 538,303 shares during the period. Retirement Systems of Alabama’s holdings in Electronic Arts were worth $9,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its position in shares of Electronic Arts by 34.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,483 shares of the game software company’s stock valued at $6,467,000 after buying an additional 10,453 shares in the last quarter. Vest Financial LLC grew its stake in Electronic Arts by 5.7% in the 2nd quarter. Vest Financial LLC now owns 278,069 shares of the game software company’s stock valued at $44,408,000 after acquiring an additional 15,032 shares during the period. Alta Advisers Ltd purchased a new stake in Electronic Arts in the 2nd quarter worth $205,000. NatWest Group plc acquired a new position in Electronic Arts during the third quarter worth $10,414,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Electronic Arts during the second quarter worth $287,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Trading Down 0.2%

EA opened at $203.94 on Thursday. The firm has a market capitalization of $51.01 billion, a price-to-earnings ratio of 59.63, a price-to-earnings-growth ratio of 2.46 and a beta of 0.73. The company’s 50 day simple moving average is $203.71 and its two-hundred day simple moving average is $188.42. Electronic Arts Inc. has a 1-year low of $115.30 and a 1-year high of $204.88. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.07). The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.88 billion. Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. Electronic Arts’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 EPS. Analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EA has been the topic of several research analyst reports. Morgan Stanley lifted their target price on shares of Electronic Arts from $148.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Zacks Research lowered shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Roth Mkm lowered Electronic Arts from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $185.00 to $210.00 in a research note on Thursday, October 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Electronic Arts in a report on Wednesday, October 8th. Finally, Benchmark restated a “buy” rating on shares of Electronic Arts in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $187.19.

Insiders Place Their Bets

In other news, CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $201.65, for a total transaction of $302,475.00. Following the transaction, the chief financial officer owned 5,595 shares in the company, valued at $1,128,231.75. The trade was a 21.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $204.30, for a total transaction of $245,160.00. Following the completion of the sale, the insider directly owned 32,360 shares of the company’s stock, valued at $6,611,148. This represents a 3.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 123,769 shares of company stock worth $24,943,734. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.