Mitsubishi UFJ Trust & Banking Corp decreased its stake in Electronic Arts Inc. (NASDAQ:EA) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 613,319 shares of the game software company’s stock after selling 1,391 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.20% of Electronic Arts worth $54,904,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. South Texas Money Management Ltd. increased its stake in Electronic Arts by 61.6% in the third quarter. South Texas Money Management Ltd. now owns 278,621 shares of the game software company’s stock valued at $23,794,000 after buying an additional 106,160 shares during the period. Pegasus Partners Ltd. increased its stake in Electronic Arts by 2.3% in the fourth quarter. Pegasus Partners Ltd. now owns 11,255 shares of the game software company’s stock valued at $886,000 after buying an additional 250 shares during the period. Foundry Partners LLC increased its stake in Electronic Arts by 17.9% in the first quarter. Foundry Partners LLC now owns 13,944 shares of the game software company’s stock valued at $1,248,000 after buying an additional 2,116 shares during the last quarter. Cigna Investments Inc. New purchased a new stake in Electronic Arts during the fourth quarter valued at $867,000. Finally, Gerber Kawasaki Wealth & Investment Management increased its stake in Electronic Arts by 44.8% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 30,591 shares of the game software company’s stock valued at $2,409,000 after buying an additional 9,461 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.
Shares of Electronic Arts Inc. (EA) traded down 0.02% during midday trading on Friday, reaching $110.51. The company had a trading volume of 9,608,229 shares. The stock has a market capitalization of $34.26 billion, a PE ratio of 35.88 and a beta of 0.59. Electronic Arts Inc. has a 52-week low of $71.01 and a 52-week high of $116.04. The company’s 50 day moving average price is $107.35 and its 200 day moving average price is $90.48.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, May 9th. The game software company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.03. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.09 billion. Electronic Arts had a return on equity of 27.60% and a net margin of 19.96%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. Equities research analysts expect that Electronic Arts Inc. will post $4.22 earnings per share for the current year.
Several analysts recently weighed in on EA shares. Piper Jaffray Companies restated a “buy” rating and issued a $99.00 price objective on shares of Electronic Arts in a report on Monday, May 1st. Vetr upgraded Electronic Arts from a “strong sell” rating to a “buy” rating and set a $94.20 price objective for the company in a report on Wednesday, April 12th. Jefferies Group LLC restated a “buy” rating and issued a $110.00 price objective on shares of Electronic Arts in a report on Monday, April 10th. MKM Partners restated a “buy” rating and issued a $109.00 price objective (up from $95.00) on shares of Electronic Arts in a report on Friday, May 5th. Finally, Mizuho set a $115.00 price objective on Electronic Arts and gave the company a “buy” rating in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. Electronic Arts currently has an average rating of “Buy” and a consensus price target of $103.50.
In other news, CEO Andrew Wilson sold 8,000 shares of Electronic Arts stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $89.32, for a total value of $714,560.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jacob J. Schatz sold 2,200 shares of Electronic Arts stock in a transaction on Monday, March 20th. The shares were sold at an average price of $88.80, for a total value of $195,360.00. Following the completion of the sale, the senior vice president now directly owns 20,980 shares of the company’s stock, valued at approximately $1,863,024. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 302,828 shares of company stock valued at $30,528,653. 3.46% of the stock is currently owned by 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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