BT Investment Management Ltd bought a new stake in Electronic Arts Inc. (NASDAQ:EA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 80,552 shares of the game software company’s stock, valued at approximately $8,516,000.
Several other hedge funds have also recently made changes to their positions in the company. D. Scott Neal Inc. bought a new position in Electronic Arts during the second quarter valued at about $120,000. Guardian Life Insurance Co. of America grew its position in Electronic Arts by 2.9% during 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 grew its position in Electronic Arts by 722.0% during 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. Captrust Financial Advisors bought a new position in Electronic Arts during the second quarter valued at about $195,000. Finally, King Luther Capital Management Corp bought a new position in Electronic Arts during the second quarter valued at about $224,000. Institutional investors own 93.89% of the company’s stock.
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EA has been the subject of several research reports. 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 price target on shares of Electronic Arts in a research report on Sunday, May 28th. Vetr lowered shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $109.98 price target for the company. in a research report on Monday, May 22nd. KeyCorp restated a “buy” rating and set a $134.00 price target on shares of Electronic Arts in a research report on Friday, August 25th. Finally, Zacks Investment Research lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $117.01.
Shares of Electronic Arts Inc. (EA) traded up 0.19% during midday trading on Friday, reaching $119.42. 3,192,011 shares of the company were exchanged. Electronic Arts Inc. has a 12-month low of $73.74 and a 12-month high of $122.79. The stock has a market capitalization of $36.87 billion, a P/E ratio of 31.97 and a beta of 0.68. The company has a 50 day moving average price of $118.08 and a 200-day moving average price of $105.34.
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 Thomson Reuters’ 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 business had revenue of $775.00 million during the quarter, compared to the consensus estimate of $768.47 million. During the same period in the prior year, the company posted $0.07 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts forecast that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.
In other Electronic Arts news, CEO Andrew Wilson sold 9,059 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $105.91, for a total value of $959,438.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Blake J. Jorgensen sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $117.14, for a total value of $1,171,400.00. Following the completion of the transaction, the chief financial officer now owns 199,614 shares of the company’s stock, valued at $23,382,783.96. The disclosure for this sale can be found here. Insiders sold a total of 195,097 shares of company stock valued at $23,019,378 over the last 90 days. 2.55% of the stock is currently 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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