APG Asset Management N.V. reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 32.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 911,288 shares of the game software company’s stock after selling 428,030 shares during the period. APG Asset Management N.V. owned about 0.29% of Electronic Arts worth $96,341,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Guardian Life Insurance Co. of America raised its stake in shares of Electronic Arts by 2.9% in 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 last quarter. Invictus RG raised its stake in shares of Electronic Arts by 722.0% in 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 last quarter. D. Scott Neal Inc. purchased a new stake in shares of Electronic Arts during the second quarter valued at about $120,000. Commerce Bank purchased a new stake in shares of Electronic Arts during the first quarter valued at about $203,000. Finally, Intrust Bank NA purchased a new stake in shares of Electronic Arts during the first quarter valued at about $204,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.
Shares of Electronic Arts Inc. (EA) opened at 115.45 on Friday. The stock has a 50 day moving average price of $112.14 and a 200-day moving average price of $99.46. Electronic Arts Inc. has a 1-year low of $73.74 and a 1-year high of $120.25. The company has a market cap of $35.64 billion, a price-to-earnings ratio of 30.91 and a beta of 0.72.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The business had revenue of $775 million during the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. Equities research analysts forecast that Electronic Arts Inc. will post $4.24 earnings per share for the current year.
Electronic Arts announced that its board has authorized a stock buyback plan on Tuesday, May 9th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the game software company to buy up to 45% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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Several equities analysts have recently weighed in on the company. Pacific Crest reiterated an “overweight” rating and issued a $112.00 price target on shares of Electronic Arts in a research report on Wednesday, April 26th. BidaskClub cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. KeyCorp reiterated a “buy” rating on shares of Electronic Arts in a research report on Sunday, July 30th. Piper Jaffray Companies reduced their price target on Electronic Arts from $119.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, May 10th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $94.00 price target on shares of Electronic Arts in a research report on Thursday, April 20th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $115.19.
In other Electronic Arts news, Director Denise Warren sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $108.84, for a total value of $108,840.00. Following the completion of the sale, the director now owns 13,665 shares of the company’s stock, valued at $1,487,298.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Joel Linzner sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $100.34, for a total transaction of $1,003,400.00. Following the completion of the sale, the executive vice president now directly owns 26,745 shares of the company’s stock, valued at approximately $2,683,593.30. The disclosure for this sale can be found here. In the last three months, insiders sold 336,915 shares of company stock valued at $37,032,377. 2.55% of the stock is 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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