Deutsche Bank AG reduced its position in Electronic Arts Inc. (NASDAQ:EA) by 52.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 562,874 shares of the game software company’s stock after selling 625,500 shares during the period. Deutsche Bank AG’s holdings in Electronic Arts were worth $59,131,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of EA. Brown Advisory Inc. lifted its position in shares of Electronic Arts by 25,746.6% in the fourth quarter. Brown Advisory Inc. now owns 2,096,933 shares of the game software company’s stock worth $220,305,000 after buying an additional 2,088,820 shares in the last quarter. Egerton Capital UK LLP purchased a new stake in Electronic Arts during the fourth quarter valued at approximately $184,412,000. Flossbach Von Storch AG purchased a new stake in Electronic Arts during the fourth quarter valued at approximately $139,782,000. Old Mutual Global Investors UK Ltd. raised its position in Electronic Arts by 161.6% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,542,907 shares of the game software company’s stock valued at $162,097,000 after purchasing an additional 953,148 shares during the period. Finally, BlackRock Inc. raised its position in Electronic Arts by 4.4% during the fourth quarter. BlackRock Inc. now owns 21,297,293 shares of the game software company’s stock valued at $2,237,493,000 after purchasing an additional 904,557 shares during the period. Institutional investors own 95.45% of the company’s stock.
In related news, CEO Andrew Wilson sold 9,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $108.69, for a total value of $978,210.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $107.50, for a total value of $107,500.00. Following the completion of the transaction, the senior vice president now directly owns 18,950 shares in the company, valued at approximately $2,037,125. The disclosure for this sale can be found here. In the last three months, insiders sold 81,279 shares of company stock worth $9,809,588. 2.55% of the stock is owned by insiders.
A number of brokerages have issued reports on EA. Vetr upgraded Electronic Arts from a “sell” rating to a “buy” rating and set a $142.00 price objective on the stock in a research report on Monday. Needham & Company LLC upped their price objective on Electronic Arts from $130.00 to $135.00 and gave the company a “buy” rating 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. ValuEngine downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, Wedbush restated a “buy” rating and set a $136.00 price objective on shares of Electronic Arts in a research report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company currently 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 52 week low of $87.90 and a 52 week high of $131.01. The stock has a market capitalization of $39,297.99, a P/E ratio of 36.61, a P/E/G ratio of 2.33 and a beta of 0.76. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.24.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, January 30th. The game software company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.03. Electronic Arts had a return on equity of 25.42% and a net margin of 19.67%. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.02 billion. analysts expect that Electronic Arts Inc. will post 3.66 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “Electronic Arts Inc. (EA) Shares Sold by Deutsche Bank AG” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this article can be viewed at https://ledgergazette.com/2018/03/14/electronic-arts-inc-ea-shares-sold-by-deutsche-bank-ag.html.
Electronic Arts 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.
Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA).
Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.