Westpac Banking Corp Reduces Holdings in Electronic Arts Inc. (EA)

Westpac Banking Corp lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 15.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,071 shares of the game software company’s stock after selling 12,357 shares during the period. Westpac Banking Corp’s holdings in Electronic Arts were worth $8,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. D. Scott Neal Inc. bought a new position in shares of Electronic Arts during the 2nd quarter valued at about $120,000. Tower Research Capital LLC TRC boosted its holdings in shares of Electronic Arts by 310.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock valued at $149,000 after purchasing an additional 1,063 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Electronic Arts in the 2nd quarter valued at about $195,000. King Luther Capital Management Corp bought a new position in shares of Electronic Arts in the 2nd quarter valued at about $224,000. Finally, Calamos Advisors LLC bought a new position in shares of Electronic Arts in the 2nd quarter valued at about $228,000. 94.45% of the stock is owned by institutional investors and hedge funds.

EA has been the subject of a number of analyst reports. Oppenheimer Holdings, Inc. set a $130.00 price target on shares of Electronic Arts and gave the company a “buy” rating in a report on Friday, July 28th. Wedbush reaffirmed a “buy” rating on shares of Electronic Arts in a report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 price target (up previously from $123.00) on shares of Electronic Arts in a report on Friday, July 28th. Bank of America Corporation raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $131.00 price target for the company in a report on Wednesday, July 26th. Finally, BidaskClub raised shares of Electronic Arts from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Five 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 has a consensus rating of “Buy” and an average target price of $123.38.

In related news, CEO Andrew Wilson sold 10,058 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $119.56, for a total transaction of $1,202,534.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Blake J. Jorgensen sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $115.25, for a total transaction of $1,152,500.00. Following the sale, the chief financial officer now directly owns 209,614 shares in the company, valued at $24,158,013.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 179,038 shares of company stock worth $21,345,710. 2.55% of the stock is owned by insiders.

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

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