California Public Employees Retirement System Acquires 39,700 Shares of Electronic Arts Inc. (EA)
California Public Employees Retirement System grew its holdings in Electronic Arts Inc. (NASDAQ:EA) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 658,000 shares of the game software company’s stock after purchasing an additional 39,700 shares during the quarter. California Public Employees Retirement System owned approximately 0.21% of Electronic Arts worth $69,564,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Life Insurance Co. of America boosted its stake in shares of Electronic Arts by 2.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after purchasing an additional 34 shares during the last quarter. Invictus RG boosted its stake in shares of Electronic Arts by 722.0% in the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after purchasing an additional 1,148 shares during the last quarter. D. Scott Neal Inc. bought a new position in shares of Electronic Arts in the 2nd quarter valued at about $120,000. Captrust Financial Advisors bought a new position in shares of Electronic Arts in the 2nd quarter valued at about $195,000. Finally, Two Sigma Securities LLC bought a new position in shares of Electronic Arts in the 1st quarter valued at about $205,000. 93.84% of the stock is currently owned by institutional investors.
Electronic Arts Inc. (NASDAQ EA) traded up 1.08% during midday trading on Friday, hitting $119.30. The stock had a trading volume of 708,292 shares. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $122.79. The stock has a market cap of $36.83 billion, a P/E ratio of 31.94 and a beta of 0.68. The company has a 50-day moving average price of $118.23 and a 200-day moving average price of $106.08.
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, topping the consensus estimate of $0.14 by $0.22. The company had revenue of $775.00 million during 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%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 EPS. Equities analysts expect that Electronic Arts Inc. will post $4.24 EPS for the current year.
Several research analysts have recently issued reports on EA shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $114.00 target price on shares of Electronic Arts in a research note on Sunday, May 28th. Morgan Stanley increased their price target on shares of Electronic Arts from $114.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, June 7th. Mizuho reiterated a “buy” rating and issued a $115.00 price target on shares of Electronic Arts in a research report on Monday, June 12th. BidaskClub downgraded shares of Electronic Arts from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, 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. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $118.01.
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In other Electronic Arts 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 value of $158,970.00. Following the completion of the transaction, the executive vice president now owns 33,345 shares in the company, valued at approximately $3,533,903.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $120.77, for a total value of $120,770.00. The disclosure for this sale can be found here. Insiders have sold a total of 196,097 shares of company stock valued at $23,140,148 in the last quarter. 2.55% of the stock is owned by corporate insiders.
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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