Mechanics Bank Trust Department Has $4.40 Million Holdings in Electronic Arts Inc. (EA)

Mechanics Bank Trust Department lessened its stake in Electronic Arts Inc. (NASDAQ:EA) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,248 shares of the game software company’s stock after selling 4,342 shares during the quarter. Electronic Arts comprises about 1.0% of Mechanics Bank Trust Department’s holdings, making the stock its 28th largest holding. Mechanics Bank Trust Department’s holdings in Electronic Arts were worth $4,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EA. Renaissance Technologies LLC boosted its holdings in Electronic Arts by 928.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,586,064 shares of the game software company’s stock worth $273,399,000 after acquiring an additional 2,334,600 shares during the period. Assenagon Asset Management S.A. purchased a new position in Electronic Arts in the 3rd quarter worth approximately $148,789,000. Arrowstreet Capital Limited Partnership boosted its holdings in Electronic Arts by 145.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,784 shares of the game software company’s stock worth $127,793,000 after acquiring an additional 715,862 shares during the period. Janus Henderson Group PLC boosted its holdings in Electronic Arts by 65.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,425,278 shares of the game software company’s stock worth $150,688,000 after acquiring an additional 561,322 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in Electronic Arts by 103.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,012,999 shares of the game software company’s stock worth $107,094,000 after acquiring an additional 515,608 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Shares of Electronic Arts Inc. (NASDAQ EA) traded down 0.19% during midday trading on Tuesday, reaching $117.36. The company’s stock had a trading volume of 1,434,651 shares. Electronic Arts Inc. has a 52-week low of $73.74 and a 52-week high of $122.79. The stock has a 50 day moving average price of $117.31 and a 200-day moving average price of $111.83. The company has a market capitalization of $36.23 billion, a price-to-earnings ratio of 31.42 and a beta of 0.70.

In other Electronic Arts news, CEO Andrew Wilson sold 10,058 shares of Electronic Arts stock in a transaction on Friday, September 1st. The stock was sold at an average price of $119.56, for a total value of $1,202,534.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kenneth A. Moss sold 5,000 shares of Electronic Arts stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $116.72, for a total value of $583,600.00. Following the completion of the transaction, the executive vice president now owns 99,449 shares of the company’s stock, valued at approximately $11,607,687.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,038 shares of company stock valued at $21,929,310. Corporate insiders own 2.55% of the company’s stock.

A number of equities analysts have issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Electronic Arts in a research report on Thursday, August 31st. BidaskClub raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Benchmark Co. upped their target price on Electronic Arts from $136.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, September 13th. Buckingham Research assumed coverage on Electronic Arts in a research report on Wednesday, September 20th. They issued a “buy” rating and a $143.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $127.00 target price on shares of Electronic Arts in a research report on Friday, October 6th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $122.75.

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Electronic Arts 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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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