Chicago Equity Partners LLC trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 15.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,700 shares of the game software company’s stock after selling 2,455 shares during the quarter. Chicago Equity Partners LLC’s holdings in Electronic Arts were worth $1,617,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in Electronic Arts by 310.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after purchasing an additional 1,063 shares during the last quarter. Dupont Capital Management Corp purchased a new position in Electronic Arts in the third quarter worth $183,000. Captrust Financial Advisors purchased a new position in Electronic Arts in the second quarter worth $195,000. Ray Gerald L & Associates Ltd. purchased a new position in Electronic Arts in the third quarter worth $208,000. Finally, King Luther Capital Management Corp purchased a new position in Electronic Arts in the second quarter worth $224,000. 94.56% of the stock is currently owned by institutional investors.
Several research firms have recently commented on EA. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 price objective on shares of Electronic Arts in a research note on Thursday, August 31st. BidaskClub upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Benchmark Co. lifted their price objective on shares of Electronic Arts from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, September 13th. Buckingham Research began coverage on shares of Electronic Arts in a research note on Wednesday, September 20th. They set a “buy” rating and a $143.00 price objective for the company. Finally, Wedbush set a $136.00 price objective on shares of Electronic Arts and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $123.38.
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In related news, insider Andrew Wilson sold 10,058 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $113.81, for a total transaction of $1,144,700.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Blake J. Jorgensen sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $111.94, for a total transaction of $1,119,400.00. Following the sale, the chief financial officer now directly owns 182,814 shares of the company’s stock, valued at approximately $20,464,199.16. The disclosure for this sale can be found here. Insiders have sold 190,596 shares of company stock valued at $22,627,981 in the last three months. Corporate insiders own 2.55% of the company’s stock.
Shares of Electronic Arts Inc. (EA) opened at $112.01 on Tuesday. The company has a market cap of $34,718.59, a PE ratio of 28.99, a PEG ratio of 1.85 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.38 and a current ratio of 2.38. Electronic Arts Inc. has a one year low of $73.74 and a one year high of $122.79.
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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