Franklin Resources Inc. boosted its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 8.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,261,636 shares of the game software company’s stock after purchasing an additional 101,110 shares during the period. Franklin Resources Inc.’s holdings in Electronic Arts were worth $132,551,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in shares of Electronic Arts in the 4th quarter valued at about $129,000. First Bank & Trust acquired a new stake in shares of Electronic Arts in the 4th quarter valued at about $134,000. Bessemer Group Inc. raised its stake in shares of Electronic Arts by 144.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,325 shares of the game software company’s stock valued at $157,000 after purchasing an additional 783 shares during the period. Exane Derivatives acquired a new stake in shares of Electronic Arts in the 4th quarter valued at about $142,000. Finally, Dupont Capital Management Corp acquired a new stake in shares of Electronic Arts in the 3rd quarter valued at about $183,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Vijayanthimala Singh sold 200 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $126.75, for a total transaction of $25,350.00. Following the completion of the sale, the senior vice president now owns 4,528 shares in the company, valued at $573,924. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Leonard S. Coleman, Jr. sold 7,125 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $126.21, for a total value of $899,246.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,279 shares of company stock valued at $9,809,588. Corporate insiders own 2.55% of the company’s stock.
Several research firms have issued reports on EA. Morgan Stanley lifted their price target on Electronic Arts from $120.00 to $126.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Vetr downgraded Electronic Arts from a “hold” rating to a “sell” rating and set a $124.90 target price on the stock. in a research report on Thursday, March 8th. Jefferies Group reaffirmed a “buy” rating and issued a $150.00 target price on shares of Electronic Arts in a research report on Wednesday, January 31st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $145.00 target price on shares of Electronic Arts in a research report on Wednesday, January 31st. Finally, Wedbush reaffirmed a “buy” rating and issued a $138.00 target price on shares of Electronic Arts in a research report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $132.81.
Electronic Arts Inc. (EA) opened at $126.57 on Wednesday. Electronic Arts Inc. has a 1-year low of $87.90 and a 1-year high of $131.01. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $39,297.99, a PE ratio of 36.61, a P/E/G ratio of 2.33 and a beta of 0.76.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, January 30th. The game software company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.03. Electronic Arts had a return on equity of 25.42% and a net margin of 19.67%. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $2.02 billion. analysts forecast that Electronic Arts Inc. will post 3.66 EPS for the current fiscal year.
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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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