Synovus Financial Corp increased its position in Electronic Arts Inc. (NASDAQ:EA) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,668 shares of the game software company’s stock after buying an additional 530 shares during the period. Synovus Financial Corp’s holdings in Electronic Arts were worth $701,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. American International Group Inc. increased its holdings in Electronic Arts by 2.2% in the fourth quarter. American International Group Inc. now owns 127,232 shares of the game software company’s stock worth $13,367,000 after buying an additional 2,710 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Electronic Arts by 1.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 834,069 shares of the game software company’s stock worth $87,627,000 after purchasing an additional 12,220 shares during the period. Employees Retirement System of Texas boosted its position in Electronic Arts by 4.0% during the fourth quarter. Employees Retirement System of Texas now owns 26,000 shares of the game software company’s stock worth $2,732,000 after purchasing an additional 1,000 shares during the period. Wedbush Securities Inc. bought a new stake in Electronic Arts during the fourth quarter worth approximately $230,000. Finally, Wealthfront Inc. bought a new stake in Electronic Arts during the fourth quarter worth approximately $1,052,000. Hedge funds and other institutional investors own 90.95% of the company’s stock.
Electronic Arts Inc. (NASDAQ:EA) opened at $124.61 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market capitalization of $38,310.33, a price-to-earnings ratio of 38.94, a P/E/G ratio of 2.27 and a beta of 0.73. Electronic Arts Inc. has a 12 month low of $85.23 and a 12 month high of $131.01.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, January 30th. The game software company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.03. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.02 billion. Electronic Arts had a return on equity of 25.42% and a net margin of 19.67%. research analysts predict that Electronic Arts Inc. will post 3.66 EPS for the current fiscal year.
In related news, CFO Blake J. Jorgensen sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $100.27, for a total value of $1,002,700.00. Following the completion of the transaction, the chief financial officer now directly owns 169,614 shares in the company, valued at $17,007,195.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leonard S. Coleman, Jr. sold 7,125 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $126.21, for a total value of $899,246.25. The disclosure for this sale can be found here. Insiders sold 74,283 shares of company stock valued at $8,462,645 over the last 90 days. 2.55% of the stock is currently owned by corporate insiders.
EA has been the subject of a number of recent analyst reports. Wedbush set a $136.00 target price on Electronic Arts and gave the stock a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. BidaskClub raised Electronic Arts from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $130.00 target price on shares of Electronic Arts in a research report on Wednesday, November 1st. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $130.00 target price on shares of Electronic Arts in a research report on Wednesday, November 1st. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Electronic Arts has a consensus rating of “Buy” and an average target price of $130.34.
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Electronic Arts Company 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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