M&T Bank Corp lowered its position in Electronic Arts Inc. (NASDAQ:EA) by 28.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,015 shares of the game software company’s stock after selling 17,630 shares during the period. M&T Bank Corp’s holdings in Electronic Arts were worth $3,845,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in EA. CIBC World Markets Inc. increased its position in Electronic Arts by 1,310.0% in the third quarter. CIBC World Markets Inc. now owns 71,950 shares of the game software company’s stock valued at $6,145,000 after buying an additional 66,847 shares during the last quarter. Redwood Investments LLC increased its position in Electronic Arts by 7.0% in the third quarter. Redwood Investments LLC now owns 227,165 shares of the game software company’s stock valued at $19,400,000 after buying an additional 14,896 shares during the last quarter. Toronto Dominion Bank increased its position in Electronic Arts by 417.2% in the third quarter. Toronto Dominion Bank now owns 8,792 shares of the game software company’s stock valued at $751,000 after buying an additional 7,092 shares during the last quarter. KBC Group NV increased its position in Electronic Arts by 29.7% in the third quarter. KBC Group NV now owns 42,069 shares of the game software company’s stock valued at $3,593,000 after buying an additional 9,630 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Electronic Arts by 4,502.8% in the third quarter. Victory Capital Management Inc. now owns 177,162 shares of the game software company’s stock valued at $15,129,000 after buying an additional 173,313 shares during the last quarter. 99.28% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

Shares of Electronic Arts Inc. (NASDAQ:EA) traded up 3.35% during trading on Tuesday, hitting $81.37. 3,376,820 shares of the stock were exchanged. The company has a market cap of $24.55 billion, a price-to-earnings ratio of 20.74 and a beta of 0.58. Electronic Arts Inc. has a 12-month low of $53.01 and a 12-month high of $86.07. The firm has a 50 day moving average of $80.53 and a 200-day moving average of $79.09.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, November 1st. The game software company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.56. The company earned $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Electronic Arts had a return on equity of 23.03% and a net margin of 27.62%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 EPS. On average, analysts forecast that Electronic Arts Inc. will post $3.70 earnings per share for the current year.

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EA has been the subject of several recent analyst reports. MKM Partners restated a “buy” rating and set a $95.00 price objective on shares of Electronic Arts in a research report on Thursday, November 3rd. Morgan Stanley restated an “overweight” rating and set a $101.00 price objective on shares of Electronic Arts in a research report on Thursday, November 3rd. Vetr cut shares of Electronic Arts from a “strong-buy” rating to a “buy” rating and set a $93.33 price objective for the company. in a research report on Tuesday, October 18th. Bank of America Corp. cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $86.07 to $53.01 in a research report on Monday, October 24th. Finally, Cowen and Company restated an “outperform” rating and set a $83.00 price objective on shares of Electronic Arts in a research report on Tuesday, August 23rd. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Electronic Arts presently has a consensus rating of “Buy” and a consensus price target of $89.11.

In other news, SVP Samantha S. Smith sold 2,721 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $76.78, for a total transaction of $208,918.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake J. Jorgensen sold 10,100 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $78.58, for a total value of $793,658.00. Following the transaction, the chief financial officer now owns 93,210 shares of the company’s stock, valued at $7,324,441.80. The disclosure for this sale can be found here. 3.46% 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.

5 Day Chart for NASDAQ:EA

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