Sigma Planning Corp bought a new stake in Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,350 shares of the game software company’s stock, valued at approximately $248,000.
Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in Electronic Arts by 433.7% in the second quarter. Teacher Retirement System of Texas now owns 322,473 shares of the game software company’s stock valued at $34,092,000 after buying an additional 262,046 shares during the last quarter. First Trust Advisors LP boosted its stake in Electronic Arts by 43.5% in the second quarter. First Trust Advisors LP now owns 214,697 shares of the game software company’s stock worth $22,698,000 after buying an additional 65,091 shares in the last quarter. Arizona State Retirement System boosted its stake in Electronic Arts by 0.8% in the second quarter. Arizona State Retirement System now owns 76,873 shares of the game software company’s stock worth $8,127,000 after buying an additional 600 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Electronic Arts by 6.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 997,718 shares of the game software company’s stock worth $105,479,000 after buying an additional 61,992 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in Electronic Arts by 10.1% in the second quarter. Wetherby Asset Management Inc. now owns 6,829 shares of the game software company’s stock worth $722,000 after buying an additional 626 shares in the last quarter. Institutional investors own 97.31% of the company’s stock.
Electronic Arts Inc. (NASDAQ EA) opened at 116.47 on Friday. The stock has a market capitalization of $35.96 billion, a price-to-earnings ratio of 31.18 and a beta of 0.72. The company has a 50 day moving average price of $113.01 and a 200 day moving average price of $100.49. Electronic Arts Inc. has a 12 month low of $73.74 and a 12 month high of $120.25.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.22. The company had revenue of $775 million during the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. Equities research analysts predict that Electronic Arts Inc. will post $4.24 earnings per share for the current year.
Electronic Arts announced that its board has initiated a stock repurchase plan on Tuesday, May 9th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the game software company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
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EA has been the topic of a number of research reports. Pacific Crest restated an “overweight” rating and issued a $112.00 price target on shares of Electronic Arts in a report on Wednesday, April 26th. Needham & Company LLC initiated coverage on Electronic Arts in a report on Monday, July 17th. They issued a “buy” rating and a $130.00 price target on the stock. Vetr upgraded Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price target on the stock in a report on Monday, May 8th. Jefferies Group LLC restated a “buy” rating and issued a $135.00 price target (up previously from $123.00) on shares of Electronic Arts in a report on Friday, July 28th. Finally, Bank of America Corporation restated a “neutral” rating and issued a $104.00 price target on shares of Electronic Arts in a report on Monday, May 8th. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Electronic Arts currently has an average rating of “Buy” and an average price target of $115.19.
In other Electronic Arts news, EVP Patrick Soderlund sold 50,000 shares of Electronic Arts stock in a transaction on Friday, June 16th. The shares were sold at an average price of $111.32, for a total transaction of $5,566,000.00. Following the completion of the sale, the executive vice president now owns 139,507 shares of the company’s stock, valued at approximately $15,529,919.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Wilson sold 10,965 shares of Electronic Arts stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $108.00, for a total transaction of $1,184,220.00. The disclosure for this sale can be found here. Insiders have sold a total of 269,552 shares of company stock valued at $29,989,829 in the last three months. Company insiders own 2.55% 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.
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