Wetherby Asset Management Inc. boosted its position in Electronic Arts Inc. (NASDAQ:EA) by 10.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,829 shares of the game software company’s stock after buying an additional 626 shares during the period. Wetherby Asset Management Inc.’s holdings in Electronic Arts were worth $722,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock worth $2,652,637,000 after buying an additional 2,394,314 shares in the last quarter. BlackRock Inc. boosted its position in shares of Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock worth $1,858,837,000 after buying an additional 20,174,721 shares in the last quarter. State Street Corp boosted its position in shares of 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 worth $1,064,069,000 after buying an additional 318,704 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Electronic Arts by 24.8% in the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock worth $845,359,000 after buying an additional 1,877,351 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of 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 worth $723,074,000 after buying an additional 1,064,602 shares in the last quarter. Institutional investors own 98.02% of the company’s stock.

Shares of Electronic Arts Inc. (EA) opened at 115.45 on Friday. Electronic Arts Inc. has a one year low of $73.74 and a one year high of $120.25. The stock has a market cap of $35.64 billion, a price-to-earnings ratio of 30.91 and a beta of 0.72. The company has a 50-day moving average price of $112.14 and a 200 day moving average price of $99.46.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.22. The company had revenue of $775 million for the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. Electronic Arts’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. Equities research analysts expect that Electronic Arts Inc. will post $4.24 earnings per share for the current year.

Electronic Arts announced that its Board of Directors has approved a share repurchase program on Tuesday, May 9th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the game software company to buy up to 45% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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A number of equities analysts recently issued reports on EA shares. Credit Suisse Group reiterated a “buy” rating and issued a $114.00 target price on shares of Electronic Arts in a report on Sunday, May 28th. Benchmark Co. raised their price objective on Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a research note on Tuesday, June 20th. Vetr upgraded Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price objective on the stock in a research note on Monday, May 8th. Robert W. Baird restated 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, August 4th. Five investment 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 stock. The stock has a consensus rating of “Buy” and an average price target of $115.19.

In other Electronic Arts news, EVP Joel Linzner sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $116.96, for a total value of $467,840.00. Following the completion of the sale, the executive vice president now owns 18,089 shares in the company, valued at $2,115,689.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 10,965 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $108.00, for a total value of $1,184,220.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 336,915 shares of company stock valued at $37,032,377. Company 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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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