Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Boston Partners
Boston Partners cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 39.7% during the second quarter, Holdings Channel reports. The firm owned 653,873 shares of the game software company’s stock after selling 430,517 shares during the period. Boston Partners’ holdings in Electronic Arts were worth $69,127,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its position 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 period. Invictus RG boosted its position in Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after buying an additional 1,148 shares during the period. D. Scott Neal Inc. bought a new position in Electronic Arts during the second quarter valued at $120,000. Commerce Bank bought a new position in Electronic Arts during the first quarter valued at $203,000. Finally, Intrust Bank NA bought a new position in Electronic Arts during the first quarter valued at $204,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.
Electronic Arts Inc. (NASDAQ:EA) opened at 115.45 on Friday. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $120.25. The company has a 50-day moving average of $112.14 and a 200-day moving average of $99.46. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 30.91 and a beta of 0.72.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating 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 firm had revenue of $775 million during the quarter, compared to the consensus estimate of $768.47 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The business’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts forecast 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 share repurchase plan on Tuesday, May 9th that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the game software company to repurchase up to 45% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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Several research analysts recently weighed in on EA shares. Mizuho set a $115.00 price objective on shares of Electronic Arts and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Vetr upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price objective for the company in a research report on Monday, May 8th. Piper Jaffray Companies restated a “buy” rating and issued a $99.00 price objective on shares of Electronic Arts in a research report on Monday, May 1st. MKM Partners restated a “buy” rating and issued a $109.00 price objective (up previously from $95.00) on shares of Electronic Arts in a research report on Friday, May 5th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $123.00 price objective (up previously from $110.00) on shares of Electronic Arts in a research report on Wednesday, May 10th. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $115.19.
In other Electronic Arts news, EVP Patrick Soderlund sold 55,163 shares of Electronic Arts stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $107.14, for a total value of $5,910,163.82. Following the completion of the sale, the executive vice president now directly owns 213,689 shares of the company’s stock, valued at $22,894,639.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 10,965 shares of Electronic Arts stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $108.00, for a total transaction of $1,184,220.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 336,915 shares of company stock valued at $37,032,377. 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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