Eaton Vance Management Acquires 345 Shares of Electronic Arts Inc. (EA)
Eaton Vance Management grew its holdings in Electronic Arts Inc. (NASDAQ:EA) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,013 shares of the game software company’s stock after purchasing an additional 345 shares during the quarter. Eaton Vance Management’s holdings in Electronic Arts were worth $5,816,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of EA. CIBC World Markets Inc. raised its position in shares of Electronic Arts by 1,257.3% in the 2nd quarter. CIBC World Markets Inc. now owns 357,579 shares of the game software company’s stock valued at $37,803,000 after acquiring an additional 331,234 shares during the period. Commonwealth Bank of Australia raised its position in shares of Electronic Arts by 491.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 8,469 shares of the game software company’s stock valued at $893,000 after acquiring an additional 7,037 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Electronic Arts in the 2nd quarter valued at approximately $5,016,000. Tredje AP fonden raised its position in shares of Electronic Arts by 95.1% in the 2nd quarter. Tredje AP fonden now owns 72,554 shares of the game software company’s stock valued at $7,670,000 after acquiring an additional 35,360 shares during the period. Finally, Rathbone Brothers plc raised its position in shares of Electronic Arts by 1.8% in the 2nd quarter. Rathbone Brothers plc now owns 338,220 shares of the game software company’s stock valued at $35,757,000 after acquiring an additional 6,000 shares during the period. 93.89% of the stock is currently owned by institutional investors.
Electronic Arts Inc. (EA) opened at 119.19 on Friday. The firm’s 50-day moving average price is $118.03 and its 200 day moving average price is $105.11. The firm has a market cap of $36.80 billion, a P/E ratio of 31.91 and a beta of 0.68. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $122.79.
Electronic Arts (NASDAQ:EA) last released 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 return on equity of 29.77% and a net margin of 23.31%. The firm had revenue of $775.00 million for the quarter, compared to analysts’ expectations of $768.47 million. During the same quarter last year, the firm posted $0.07 EPS. The company’s revenue was up 13.6% compared to the same quarter last year. Equities analysts forecast that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.
In related news, EVP Chris Bruzzo sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $105.98, for a total transaction of $158,970.00. Following the transaction, the executive vice president now directly owns 33,345 shares of the company’s stock, valued at approximately $3,533,903.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lawrence F. Probst III sold 68,072 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $118.83, for a total value of $8,088,995.76. Following the transaction, the director now directly owns 176,348 shares in the company, valued at $20,955,432.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,097 shares of company stock worth $23,019,378. Insiders own 2.55% of the company’s stock.
A number of analysts recently weighed in on EA shares. Benchmark Co. increased their price target on shares of Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a research report on Tuesday, June 20th. Credit Suisse Group restated a “buy” rating and set a $114.00 target price on shares of Electronic Arts in a report on Sunday, May 28th. Vetr downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $109.98 target price on the stock. in a report on Monday, May 22nd. KeyCorp restated a “buy” rating and set a $134.00 target price on shares of Electronic Arts in a report on Friday, August 25th. Finally, Zacks Investment Research downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $117.01.
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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