Strs Ohio cut its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 43.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,626 shares of the game software company’s stock after selling 10,481 shares during the period. Strs Ohio’s holdings in Electronic Arts were worth $1,032,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jackson Square Partners LLC increased its stake in Electronic Arts by 14.3% in the first quarter. Jackson Square Partners LLC now owns 12,098,912 shares of the game software company’s stock worth $885,415,000 after buying an additional 1,509,427 shares in the last quarter. Wellington Management Group LLP increased its stake in Electronic Arts by 131.2% in the first quarter. Wellington Management Group LLP now owns 1,827,163 shares of the game software company’s stock worth $120,793,000 after buying an additional 1,036,789 shares in the last quarter. Newbrook Capital Advisors LP acquired a new stake in Electronic Arts during the first quarter worth about $47,111,000. New York State Teachers Retirement System increased its stake in Electronic Arts by 2.5% in the second quarter. New York State Teachers Retirement System now owns 642,227 shares of the game software company’s stock worth $48,655,000 after buying an additional 15,476 shares in the last quarter. Finally, Sensato Investors LLC acquired a new stake in Electronic Arts during the first quarter worth about $22,861,000.
Electronic Arts Inc. (NASDAQ:EA) traded up 1.02% during midday trading on Friday, reaching $82.59. 2,658,305 shares of the company’s stock were exchanged. The company has a market cap of $24.84 billion, a price-to-earnings ratio of 23.26 and a beta of 0.63. Electronic Arts Inc. has a 12-month low of $53.01 and a 12-month high of $86.07. The firm has a 50-day moving average price of $83.09 and a 200 day moving average price of $75.63.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, August 2nd. The game software company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.09. The firm earned $682 million during the quarter, compared to analyst estimates of $652.64 million. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. On average, analysts expect that Electronic Arts Inc. will post $3.64 EPS for the current fiscal year.
A number of analysts have issued reports on the stock. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $88.00 price objective on shares of Electronic Arts in a report on Wednesday, August 3rd. Vetr raised shares of Electronic Arts from a “sell” rating to a “hold” rating and set a $79.72 price target for the company in a report on Monday, July 25th. MKM Partners upped their price target on shares of Electronic Arts from $87.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Jefferies Group reaffirmed a “buy” rating on shares of Electronic Arts in a report on Monday, July 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 price target on shares of Electronic Arts in a report on Tuesday, July 12th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Electronic Arts currently has a consensus rating of “Buy” and a consensus target price of $88.81.
In related news, CEO Andrew Wilson sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $85.03, for a total transaction of $4,251,500.00. Following the completion of the sale, the chief executive officer now directly owns 290,581 shares in the company, valued at approximately $24,708,102.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Laura Miele sold 2,600 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $82.21, for a total transaction of $213,746.00. The disclosure for this sale can be found here. 3.46% of the stock is currently owned by insiders.
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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.