Raymond James Trust N.A. Purchases 445 Shares of Electronic Arts Inc. (EA)
Raymond James Trust N.A. lifted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,329 shares of the game software company’s stock after acquiring an additional 445 shares during the quarter. Raymond James Trust N.A.’s holdings in Electronic Arts were worth $350,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in Electronic Arts in the third quarter valued at about $148,789,000. Point72 Asset Management L.P. increased its holdings in Electronic Arts by 49.6% in the third quarter. Point72 Asset Management L.P. now owns 1,570,034 shares of the game software company’s stock valued at $185,358,000 after purchasing an additional 520,560 shares during the last quarter. CI Global Investments Inc. bought a new stake in Electronic Arts in the fourth quarter valued at about $43,137,000. Myriad Asset Management Ltd. bought a new stake in Electronic Arts in the third quarter valued at about $41,321,000. Finally, Wells Fargo & Company MN increased its holdings in Electronic Arts by 16.7% in the third quarter. Wells Fargo & Company MN now owns 1,886,592 shares of the game software company’s stock valued at $222,730,000 after purchasing an additional 269,834 shares during the last quarter. Institutional investors own 92.63% of the company’s stock.
In related news, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $100.27, for a total transaction of $1,002,700.00. Following the completion of the transaction, the chief financial officer now directly owns 169,614 shares of the company’s stock, valued at $17,007,195.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $108.28, for a total value of $108,280.00. Following the transaction, the senior vice president now directly owns 19,950 shares of the company’s stock, valued at $2,160,186. The disclosure for this sale can be found here. Insiders have sold 67,158 shares of company stock valued at $7,546,309 over the last three months. Insiders own 2.55% of the company’s stock.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, January 30th. The game software company reported $2.06 EPS for the quarter, beating the consensus estimate of $2.03 by $0.03. Electronic Arts had a return on equity of 25.42% and a net margin of 19.67%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $2.02 billion. equities analysts predict that Electronic Arts Inc. will post 3.66 EPS for the current fiscal year.
A number of equities research analysts recently commented on EA shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $128.00 price objective on shares of Electronic Arts in a report on Thursday, October 12th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Electronic Arts in a report on Friday, October 13th. Morgan Stanley reiterated an “overweight” rating and issued a $126.00 price objective (down previously from $128.00) on shares of Electronic Arts in a report on Wednesday, October 18th. BidaskClub downgraded Electronic Arts from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Finally, Wedbush set a $136.00 price objective on Electronic Arts and gave the company a “buy” rating in a report on Thursday, October 26th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $130.34.
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.
Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA).
Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.