Cambridge Investment Research Advisors Inc. reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 16.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,793 shares of the game software company’s stock after selling 915 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Electronic Arts were worth $507,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in EA. Guardian Life Insurance Co. of America boosted its stake in shares of Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after purchasing an additional 34 shares during the period. Invictus RG raised its holdings in Electronic Arts by 722.0% during the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after purchasing an additional 1,148 shares in the last quarter. D. Scott Neal Inc. acquired a new stake in Electronic Arts during the second quarter worth approximately $120,000. Commerce Bank acquired a new stake in Electronic Arts during the first quarter worth approximately $203,000. Finally, Intrust Bank NA acquired a new stake in Electronic Arts during the first quarter worth approximately $204,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.
Shares of Electronic Arts Inc. (EA) opened at 121.19 on Tuesday. Electronic Arts Inc. has a 12 month low of $73.74 and a 12 month high of $122.79. The firm has a 50-day moving average price of $117.53 and a 200 day moving average price of $104.53. The firm has a market capitalization of $37.41 billion, a price-to-earnings ratio of 32.45 and a beta of 0.68.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company had revenue of $775 million for the quarter, compared to analyst estimates of $768.47 million. During the same quarter last year, the firm earned $0.07 EPS. Electronic Arts’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts anticipate that Electronic Arts Inc. will post $4.24 EPS for the current fiscal year.
In related news, EVP Joel Linzner sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $116.96, for a total value of $467,840.00. Following the sale, the executive vice president now owns 18,089 shares of the company’s stock, valued at approximately $2,115,689.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Chris Bruzzo sold 1,500 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $105.98, for a total value of $158,970.00. Following the completion of the sale, the executive vice president now directly owns 33,345 shares in the company, valued at approximately $3,533,903.10. The disclosure for this sale can be found here. Insiders have sold a total of 355,097 shares of company stock worth $40,795,378 in the last three months. 2.55% of the stock is owned by insiders.
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A number of analysts have weighed in on EA shares. Benchmark Co. raised their price objective on shares of Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. BidaskClub cut shares of Electronic Arts from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Mizuho reissued a “buy” rating and issued a $115.00 price objective on shares of Electronic Arts in a research note on Monday, June 12th. MKM Partners reissued a “buy” rating and issued a $112.00 price objective (up from $109.00) on shares of Electronic Arts in a research note on Monday, May 15th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $114.00 price objective on shares of Electronic Arts in a research note on Sunday, May 28th. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $116.77.
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.
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