Raymond James & Associates lowered its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 33.0% in the 4th quarter, Holdings Channel reports. The firm owned 58,738 shares of the game software company’s stock after selling 28,993 shares during the quarter. Raymond James & Associates’ holdings in Electronic Arts were worth $4,635,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Baystate Wealth Management LLC lifted its stake in shares of Electronic Arts by 373.1% in the 4th quarter. Baystate Wealth Management LLC now owns 317 shares of the game software company’s stock valued at $29,000 after acquiring an additional 250 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Electronic Arts in the 4th quarter valued at about $28,000. Bremer Trust National Association bought a new stake in shares of Electronic Arts in the 4th quarter valued at about $35,000. Whittier Trust Co. lifted its stake in shares of Electronic Arts by 37.0% in the 4th quarter. Whittier Trust Co. now owns 529 shares of the game software company’s stock valued at $42,000 after acquiring an additional 143 shares during the last quarter. Finally, IMS Capital Management bought a new stake in shares of Electronic Arts in the 3rd quarter valued at about $70,000. 95.84% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on EA. SunTrust Banks set a $105.00 target price on Electronic Arts and gave the company a “buy” rating in a research note on Tuesday, January 8th. Credit Suisse Group lowered their price target on Electronic Arts from $127.00 to $126.00 and set an “outperform” rating for the company in a research report on Wednesday, October 31st. Piper Jaffray Companies lowered their price target on Electronic Arts from $148.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, December 10th. ValuEngine lowered Electronic Arts from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research lowered Electronic Arts from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $113.92.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, February 5th. The game software company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.12. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.75 billion. Electronic Arts had a return on equity of 23.21% and a net margin of 26.77%. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.60) EPS. Sell-side analysts forecast that Electronic Arts Inc. will post 3.14 earnings per share for the current year.
In related news, CFO Blake J. Jorgensen sold 2,617 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $85.02, for a total value of $222,497.34. Following the transaction, the chief financial officer now directly owns 101,774 shares of the company’s stock, valued at approximately $8,652,825.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laura Miele sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $79.51, for a total value of $99,387.50. Following the completion of the transaction, the insider now directly owns 8,461 shares in the company, valued at $672,734.11. The disclosure for this sale can be found here. Insiders sold a total of 55,200 shares of company stock worth $4,957,001 in the last 90 days. 2.24% of the stock is currently owned by company insiders.
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About Electronic Arts
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.
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