Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 26.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 110,875 shares of the game software company’s stock after selling 40,237 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Electronic Arts were worth $11,648,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of EA. HBK Investments L P raised its position in Electronic Arts by 117.0% during the 4th quarter. HBK Investments L P now owns 280,000 shares of the game software company’s stock valued at $29,417,000 after purchasing an additional 150,960 shares in the last quarter. Honeycomb Asset Management LP bought a new stake in Electronic Arts during the 4th quarter valued at $31,518,000. Teachers Insurance & Annuity Association of America bought a new stake in Electronic Arts during the 4th quarter valued at $564,000. Guggenheim Capital LLC raised its position in Electronic Arts by 13.8% during the 4th quarter. Guggenheim Capital LLC now owns 718,629 shares of the game software company’s stock valued at $75,499,000 after purchasing an additional 87,129 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Electronic Arts by 8.7% during the 4th quarter. Franklin Resources Inc. now owns 1,261,636 shares of the game software company’s stock valued at $132,551,000 after purchasing an additional 101,110 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.
Electronic Arts Inc. (NASDAQ:EA) opened at $126.57 on Wednesday. Electronic Arts Inc. has a one year low of $87.90 and a one year high of $131.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market capitalization of $39,297.99, a price-to-earnings ratio of 36.61, a P/E/G ratio of 2.33 and a beta of 0.76.
EA has been the subject of a number of research analyst reports. Goldman Sachs Group lowered Electronic Arts from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. BMO Capital Markets raised Electronic Arts from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $112.39 to $97.00 in a research report on Monday, January 8th. They noted that the move was a valuation call. Vetr raised Electronic Arts from a “sell” rating to a “hold” rating and set a $124.90 target price for the company in a research report on Thursday, March 1st. ValuEngine lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, KeyCorp reaffirmed a “buy” rating and set a $134.00 target price on shares of Electronic Arts in a research report on Sunday, November 19th. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $132.81.
In other Electronic Arts news, CEO Andrew Wilson sold 9,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $108.69, for a total transaction of $978,210.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $107.50, for a total value of $107,500.00. Following the sale, the senior vice president now owns 18,950 shares in the company, valued at approximately $2,037,125. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,279 shares of company stock worth $9,809,588. 2.55% of the stock is owned by company insiders.
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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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