Claraphi Advisory Network LLC purchased a new stake in Electronic Arts Inc. (NASDAQ:EA) in the third quarter, HoldingsChannel.com reports. The firm purchased 2,877 shares of the game software company’s stock, valued at approximately $347,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its stake in shares of Electronic Arts by 31.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,697,249 shares of the game software company’s stock worth $1,168,422,000 after purchasing an additional 2,339,158 shares during the last quarter. Egerton Capital UK LLP raised its stake in shares of Electronic Arts by 79.8% in the second quarter. Egerton Capital UK LLP now owns 4,041,717 shares of the game software company’s stock worth $569,963,000 after purchasing an additional 1,794,024 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Electronic Arts by 3,732.8% in the second quarter. Advisors Asset Management Inc. now owns 951,463 shares of the game software company’s stock worth $4,094,000 after purchasing an additional 926,639 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Electronic Arts in the third quarter worth about $66,023,000. Finally, Winslow Capital Management LLC raised its stake in shares of Electronic Arts by 18.5% in the second quarter. Winslow Capital Management LLC now owns 2,888,223 shares of the game software company’s stock worth $407,298,000 after purchasing an additional 450,216 shares during the last quarter. Institutional investors own 96.40% of the company’s stock.
Several analysts recently commented on the company. Wedbush reaffirmed a “buy” rating and set a $158.00 target price on shares of Electronic Arts in a report on Monday, July 23rd. Stifel Nicolaus raised their target price on Electronic Arts from $157.00 to $159.00 and gave the stock a “$146.56” rating in a report on Monday, July 23rd. Piper Jaffray Companies raised their target price on Electronic Arts to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, July 25th. Credit Suisse Group raised their target price on Electronic Arts from $143.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 25th. Finally, BidaskClub lowered Electronic Arts from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $134.68.
In other news, CFO Blake J. Jorgensen sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $92.79, for a total value of $974,295.00. Following the transaction, the chief financial officer now owns 104,391 shares in the company, valued at $9,686,440.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $113.42, for a total value of $113,420.00. Following the completion of the transaction, the general counsel now owns 18,029 shares in the company, valued at approximately $2,044,849.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,750 shares of company stock worth $12,072,643. 2.24% of the stock is owned by corporate insiders.
Shares of EA opened at $83.04 on Tuesday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.19. Electronic Arts Inc. has a 12 month low of $82.72 and a 12 month high of $151.26. The company has a market capitalization of $25.97 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.48 and a beta of 0.96.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, October 30th. The game software company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.37 by $0.46. Electronic Arts had a return on equity of 26.01% and a net margin of 18.76%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the company earned $0.62 earnings per share. Electronic Arts’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts anticipate that Electronic Arts Inc. will post 3.87 earnings per share for the current year.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.
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