Essex Investment Management Co. LLC acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,198 shares of the game software company’s stock, valued at approximately $252,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Columbus Hill Capital Management L.P. bought a new stake in shares of Electronic Arts during the 3rd quarter worth about $1,205,000. Thrivent Financial for Lutherans boosted its holdings in shares of Electronic Arts by 27.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,464 shares of the game software company’s stock worth $1,984,000 after buying an additional 3,580 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Electronic Arts by 3.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,061,892 shares of the game software company’s stock worth $489,417,000 after buying an additional 145,570 shares during the period. Morgan Stanley boosted its holdings in Electronic Arts by 95.2% in the 3rd quarter. Morgan Stanley now owns 621,359 shares of the game software company’s stock valued at $74,868,000 after purchasing an additional 302,980 shares during the period. Finally, Beech Hill Advisors Inc. boosted its holdings in Electronic Arts by 99.8% in the 4th quarter. Beech Hill Advisors Inc. now owns 29,925 shares of the game software company’s stock valued at $2,361,000 after purchasing an additional 14,945 shares during the period. Institutional investors own 95.11% of the company’s stock.
In other news, CFO Blake J. Jorgensen sold 2,617 shares of the stock in a transaction on Friday, December 7th. The shares were sold at an average price of $85.02, for a total transaction of $222,497.34. Following the completion of the sale, the chief financial officer now directly owns 101,774 shares in the company, valued at $8,652,825.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 9,000 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $84.36, for a total transaction of $759,240.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,200 shares of company stock valued at $5,962,501. Corporate insiders own 2.24% of the company’s stock.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, February 5th. The game software company reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.12. Electronic Arts had a net margin of 26.77% and a return on equity of 23.21%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the company posted ($0.60) EPS. The company’s revenue was down 18.4% on a year-over-year basis. As a group, research analysts expect that Electronic Arts Inc. will post 3.14 earnings per share for the current year.
EA has been the subject of a number of recent research reports. Wedbush set a $158.00 price objective on shares of Electronic Arts and gave the company a “buy” rating in a report on Tuesday, October 23rd. SunTrust Banks set a $116.00 price target on shares of Electronic Arts and gave the stock a “buy” rating in a report on Thursday, October 25th. BidaskClub downgraded shares of Electronic Arts from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 31st. Atlantic Securities downgraded shares of Electronic Arts from an “overweight” rating to a “neutral” rating and set a $110.00 price target for the company. in a report on Wednesday, October 31st. Finally, Barclays cut their price target on shares of Electronic Arts from $132.00 to $128.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Electronic Arts currently has a consensus rating of “Buy” and a consensus target price of $113.04.
Electronic Arts Company Profile
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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