Scout Investments Inc. lessened its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 52.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 99,261 shares of the game software company’s stock after selling 109,414 shares during the period. Scout Investments Inc.’s holdings in Electronic Arts were worth $10,494,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of EA. Strs Ohio grew its stake in Electronic Arts by 3.3% during the 1st quarter. Strs Ohio now owns 12,070 shares of the game software company’s stock worth $1,080,000 after buying an additional 381 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Electronic Arts by 16.8% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 69,556 shares of the game software company’s stock valued at $6,227,000 after purchasing an additional 10,011 shares during the last quarter. APG Asset Management N.V. grew its stake in shares of Electronic Arts by 17.9% in the 1st quarter. APG Asset Management N.V. now owns 1,339,318 shares of the game software company’s stock valued at $119,896,000 after purchasing an additional 203,712 shares during the last quarter. State Treasurer State of Michigan grew its stake in shares of Electronic Arts by 2.6% in the 1st quarter. State Treasurer State of Michigan now owns 101,306 shares of the game software company’s stock valued at $9,069,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Tyers Asset Management LLC boosted its stake in shares of Electronic Arts by 17.3% in the first quarter. Tyers Asset Management LLC now owns 7,588 shares of the game software company’s stock valued at $679,000 after buying an additional 1,120 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Electronic Arts Inc. (NASDAQ:EA) traded up 0.19% on Friday, hitting $119.42. 3,192,011 shares of the company’s stock were exchanged. The firm has a market cap of $36.87 billion, a P/E ratio of 31.97 and a beta of 0.68. Electronic Arts Inc. has a 12 month low of $73.74 and a 12 month high of $122.79. The stock’s 50 day moving average is $118.08 and its 200 day moving average is $105.34.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.14 by $0.22. The business had revenue of $775.00 million for the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a net margin of 44.44% and a return on equity of 60.45%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. On average, equities analysts predict that Electronic Arts Inc. will post $4.24 earnings per share for the current year.
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Several equities analysts recently issued reports on EA shares. Needham & Company LLC initiated coverage on Electronic Arts in a report on Monday, July 17th. They set a “buy” rating and a $130.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating and set a $135.00 price target (up previously from $123.00) on shares of Electronic Arts in a research report on Friday, July 28th. Bank of America Corporation raised Electronic Arts from a “neutral” rating to a “buy” rating and set a $131.00 target price for the company in a research report on Wednesday, July 26th. BidaskClub upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Piper Jaffray Companies upped their price objective on Electronic Arts from $119.00 to $128.00 and gave the company an “overweight” rating in a research note on Friday, June 23rd. Four research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Electronic Arts has a consensus rating of “Buy” and an average price target of $117.01.
In related news, EVP Chris Bruzzo sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $105.98, for a total transaction of $158,970.00. Following the completion of the transaction, the executive vice president now owns 33,345 shares of the company’s stock, valued at $3,533,903.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lawrence F. Probst III sold 55,850 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $121.18, for a total transaction of $6,767,903.00. Following the transaction, the director now directly owns 171,123 shares of the company’s stock, valued at approximately $20,736,685.14. The disclosure for this sale can be found here. Insiders sold 195,097 shares of company stock valued at $23,019,378 in the last quarter. Corporate insiders own 2.55% of the company’s stock.
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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