Wells Fargo & Company MN lessened its holdings in Electronic Arts Inc. (NASDAQ:EA) by 25.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,414,364 shares of the game software company’s stock after selling 472,228 shares during the quarter. Wells Fargo & Company MN’s holdings in Electronic Arts were worth $148,593,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in shares of Electronic Arts during the 4th quarter worth approximately $129,000. First Bank & Trust purchased a new stake in shares of Electronic Arts during the 4th quarter worth approximately $134,000. Exane Derivatives purchased a new stake in shares of Electronic Arts during the 4th quarter worth approximately $142,000. Bessemer Group Inc. boosted its stake in shares of Electronic Arts by 144.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,325 shares of the game software company’s stock worth $157,000 after acquiring an additional 783 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new stake in shares of Electronic Arts during the 3rd quarter worth approximately $183,000. 90.95% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on EA. Morgan Stanley boosted their price target on Electronic Arts from $120.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Vetr raised Electronic Arts from a “strong sell” rating to a “sell” rating and set a $117.32 price target on the stock in a research note on Thursday, February 1st. Jefferies Group restated a “buy” rating and set a $150.00 price objective on shares of Electronic Arts in a research report on Wednesday, January 31st. Piper Jaffray Companies restated a “buy” rating and set a $145.00 price objective on shares of Electronic Arts in a research report on Wednesday, January 31st. Finally, Wedbush restated a “buy” rating and set a $138.00 price objective on shares of Electronic Arts in a research report on Wednesday, January 31st. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $130.34.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, January 30th. The game software company reported $2.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.03. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $2.02 billion. Electronic Arts had a return on equity of 25.42% and a net margin of 19.67%. equities research analysts anticipate that Electronic Arts Inc. will post 3.66 earnings per share for the current fiscal year.
In other news, CEO Andrew Wilson sold 9,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $128.30, for a total transaction of $1,154,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake J. Jorgensen sold 10,500 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $112.85, for a total value of $1,184,925.00. Following the sale, the chief financial officer now owns 159,114 shares of the company’s stock, valued at $17,956,014.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,158 shares of company stock valued at $7,438,029. Insiders own 2.55% of the company’s stock.
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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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