Sitrin Capital Management LLC acquired a new stake in Electronic Arts Inc. (NASDAQ:EA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 37,772 shares of the game software company’s stock, valued at approximately $4,459,000. Electronic Arts comprises about 2.9% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 18th biggest position.
Other institutional investors also recently made changes to their positions in the company. D. Scott Neal Inc. acquired a new position in Electronic Arts in the 2nd quarter worth approximately $120,000. Tower Research Capital LLC TRC increased its holdings in Electronic Arts by 310.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after buying an additional 1,063 shares during the period. Captrust Financial Advisors acquired a new position in Electronic Arts in the 2nd quarter worth approximately $195,000. King Luther Capital Management Corp acquired a new position in Electronic Arts in the 2nd quarter worth approximately $224,000. Finally, Calamos Advisors LLC acquired a new position in Electronic Arts in the 2nd quarter worth approximately $228,000. 94.45% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $113.60, for a total transaction of $113,600.00. Following the sale, the senior vice president now owns 20,950 shares of the company’s stock, valued at $2,379,920. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 10,058 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $119.56, for a total value of $1,202,534.48. The disclosure for this sale can be found here. Insiders sold 184,038 shares of company stock worth $21,929,310 in the last three months. 2.55% of the stock is owned by corporate insiders.
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Several equities analysts recently weighed in on EA shares. Vetr upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 price target on the stock in a report on Tuesday, July 4th. Stifel Nicolaus reiterated a “buy” rating on shares of Electronic Arts in a report on Monday, July 17th. Needham & Company LLC started coverage on shares of Electronic Arts in a report on Monday, July 17th. They issued a “buy” rating and a $130.00 price target on the stock. BidaskClub upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, Bank of America Corporation upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $131.00 price target on the stock in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $122.75.
Shares of Electronic Arts Inc. (EA) traded down 0.58% on Tuesday, reaching $116.90. The company’s stock had a trading volume of 1,359,124 shares. The company has a 50 day moving average of $117.31 and a 200 day moving average of $111.83. The stock has a market capitalization of $36.09 billion, a P/E ratio of 31.30 and a beta of 0.70. Electronic Arts Inc. has a 1-year low of $73.74 and a 1-year high of $122.79.
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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