Tobam Lowers Position in Electronic Arts Inc. (EA)

Tobam lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 5.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 905,495 shares of the game software company’s stock after selling 55,374 shares during the period. Electronic Arts comprises approximately 3.1% of Tobam’s holdings, making the stock its 3rd largest position. Tobam owned approximately 0.29% of Electronic Arts worth $81,060,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Bessemer Group Inc. boosted its stake in shares of Electronic Arts by 3,410.0% in the fourth quarter. Bessemer Group Inc. now owns 1,404 shares of the game software company’s stock valued at $111,000 after buying an additional 1,364 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Electronic Arts during the fourth quarter valued at about $118,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Electronic Arts by 270.5% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,630 shares of the game software company’s stock valued at $139,000 after buying an additional 1,190 shares in the last quarter. Tuttle Tactical Management LLC acquired a new position in Electronic Arts during the third quarter valued at $153,000. Finally, Commerce Bank acquired a new position in Electronic Arts during the first quarter valued at $203,000.

Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

Shares of Electronic Arts Inc. (NASDAQ:EA) opened at 112.31 on Thursday. Electronic Arts Inc. has a 52-week low of $71.01 and a 52-week high of $112.54. The stock has a 50 day moving average of $97.32 and a 200 day moving average of $86.63. The company has a market cap of $34.59 billion, a P/E ratio of 36.46 and a beta of 0.65.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, May 9th. The game software company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by $0.03. Electronic Arts had a net margin of 28.10% and a return on equity of 27.22%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $0.50 earnings per share. Electronic Arts’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts anticipate that Electronic Arts Inc. will post $4.22 earnings per share for the current fiscal year.

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Several research firms recently weighed in on EA. Vetr lowered shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $109.98 target price on the stock. in a report on Monday. MKM Partners restated a “buy” rating and set a $112.00 target price (up previously from $109.00) on shares of Electronic Arts in a report on Monday, May 15th. Hilliard Lyons lowered shares of Electronic Arts from a “buy” rating to a “neutral” rating in a report on Friday, May 12th. Robert W. Baird restated an “outperform” rating on shares of Electronic Arts in a report on Thursday, May 11th. Finally, Ascendiant Capital Markets upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $102.31.

In other Electronic Arts news, CEO Andrew Wilson sold 8,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $86.96, for a total value of $695,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jacob J. Schatz sold 2,200 shares of the stock in a transaction on Monday, March 20th. The shares were sold at an average price of $88.80, for a total transaction of $195,360.00. Following the completion of the sale, the senior vice president now directly owns 20,980 shares of the company’s stock, valued at $1,863,024. The disclosure for this sale can be found here. Over the last three months, insiders sold 282,988 shares of company stock valued at $27,447,910. Insiders own 3.46% of the company’s stock.

About Electronic Arts

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.

12 Month Chart for NASDAQ:EA

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