New Mexico Educational Retirement Board decreased its stake in Electronic Arts Inc. (NASDAQ:EA) by 7.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,863 shares of the game software company’s stock after selling 2,400 shares during the period. New Mexico Educational Retirement Board’s holdings in Electronic Arts were worth $3,369,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America raised its stake in Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after buying an additional 34 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its stake in Electronic Arts by 0.9% in the first quarter. Jaffetilchin Investment Partners LLC now owns 4,943 shares of the game software company’s stock valued at $442,000 after buying an additional 45 shares during the last quarter. ProVise Management Group LLC raised its stake in Electronic Arts by 1.3% in the first quarter. ProVise Management Group LLC now owns 4,288 shares of the game software company’s stock valued at $384,000 after buying an additional 53 shares during the last quarter. San Francisco Sentry Investment Group CA raised its stake in Electronic Arts by 1.4% in the first quarter. San Francisco Sentry Investment Group CA now owns 4,962 shares of the game software company’s stock valued at $444,000 after buying an additional 67 shares during the last quarter. Finally, NEXT Financial Group Inc raised its stake in Electronic Arts by 0.6% in the second quarter. NEXT Financial Group Inc now owns 12,316 shares of the game software company’s stock valued at $1,302,000 after buying an additional 70 shares during the last quarter. 98.02% of the stock is owned by institutional investors.

Electronic Arts Inc. (EA) opened at 116.50 on Wednesday. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $120.25. The firm has a 50-day moving average of $111.69 and a 200-day moving average of $98.19. The company has a market capitalization of $36.00 billion, a PE ratio of 31.19 and a beta of 0.72.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $775 million during the quarter, compared to analysts’ expectations of $768.47 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue was up 13.6% on a year-over-year basis. Equities analysts expect that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.

Electronic Arts declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 9th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the game software company to purchase up to 45% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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A number of analysts recently weighed in on the stock. Cowen and Company raised their price target on shares of Electronic Arts from $85.00 to $90.00 and gave the company a “market perform” rating in a report on Tuesday, April 25th. Zacks Investment Research lowered shares of Electronic Arts from a “hold” rating to a “sell” rating in a report on Friday, April 21st. Jefferies Group LLC reissued a “buy” rating and issued a $123.00 price target (up previously from $110.00) on shares of Electronic Arts in a report on Wednesday, May 10th. UBS AG reissued a “buy” rating and issued a $112.00 price target (up previously from $96.00) on shares of Electronic Arts in a report on Thursday, May 11th. Finally, Robert W. Baird reissued an “outperform” rating on shares of Electronic Arts in a report on Thursday, May 11th. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $115.19.

In other Electronic Arts news, EVP Joel Linzner sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $100.34, for a total value of $1,003,400.00. Following the completion of the transaction, the executive vice president now directly owns 26,745 shares in the company, valued at approximately $2,683,593.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Patrick Soderlund sold 55,163 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $107.14, for a total transaction of $5,910,163.82. Following the completion of the transaction, the executive vice president now owns 213,689 shares of the company’s stock, valued at $22,894,639.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 336,915 shares of company stock valued at $37,032,377. 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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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