Electronic Arts Inc. (EA) Shares Bought by Advisor Partners LLC
Advisor Partners LLC boosted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,228 shares of the game software company’s stock after buying an additional 175 shares during the period. Advisor Partners LLC’s holdings in Electronic Arts were worth $553,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. TimesSquare Capital Management LLC boosted its stake in Electronic Arts by 0.5% in the first quarter. TimesSquare Capital Management LLC now owns 767,500 shares of the game software company’s stock valued at $68,707,000 after buying an additional 3,600 shares in the last quarter. Foundry Partners LLC boosted its stake in Electronic Arts by 17.9% in the first quarter. Foundry Partners LLC now owns 13,944 shares of the game software company’s stock valued at $1,248,000 after buying an additional 2,116 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Electronic Arts by 529.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 50,647 shares of the game software company’s stock valued at $5,354,000 after buying an additional 42,599 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Electronic Arts by 15.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,077,235 shares of the game software company’s stock valued at $723,074,000 after buying an additional 1,064,602 shares in the last quarter. Finally, State Street Corp boosted its stake in Electronic Arts by 2.8% in the first quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock valued at $1,064,069,000 after buying an additional 318,704 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.
Shares of Electronic Arts Inc. (NASDAQ:EA) opened at 116.96 on Tuesday. The stock’s 50 day moving average price is $111.06 and its 200-day moving average price is $97.77. The firm has a market cap of $36.14 billion, a PE ratio of 31.31 and a beta of 0.72. Electronic Arts Inc. has a 52-week low of $73.74 and a 52-week high of $120.25.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The business had revenue of $775 million for the quarter, compared to analysts’ expectations of $768.47 million. During the same quarter last year, the company posted $0.07 earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.
Electronic Arts announced that its board has authorized a stock repurchase program on Tuesday, May 9th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the game software company to buy up to 45% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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EA has been the subject of several recent research reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $114.00 price target on shares of Electronic Arts in a report on Sunday, May 28th. Benchmark Co. raised their target price on Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Vetr raised Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 target price for the company in a research note on Monday, May 8th. Robert W. Baird reissued an “outperform” rating on shares of Electronic Arts in a research note on Thursday, May 11th. Finally, Zacks Investment Research cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $115.19.
In related news, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $104.56, for a total transaction of $1,045,600.00. Following the sale, the chief financial officer now owns 239,614 shares in the company, valued at $25,054,039.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joel Linzner sold 5,000 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $105.97, for a total transaction of $529,850.00. Following the sale, the executive vice president now owns 16,745 shares in the company, valued at approximately $1,774,467.65. The disclosure for this sale can be found here. Insiders have sold 341,915 shares of company stock worth $37,562,227 in the last ninety days. Corporate insiders own 2.55% of the company’s stock.
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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