TIAA CREF Investment Management LLC raised its holdings in Electronic Arts Inc. (NASDAQ:EA) by 15.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,736,317 shares of the game software company’s stock after purchasing an additional 226,192 shares during the quarter. TIAA CREF Investment Management LLC owned 0.57% of Electronic Arts worth $182,417,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of EA. Cerebellum GP LLC bought a new position in shares of Electronic Arts in the 4th quarter valued at $129,000. First Bank & Trust bought a new position in shares of Electronic Arts in the 4th quarter valued at $134,000. Exane Derivatives bought a new position in shares of Electronic Arts in the 4th quarter valued at $142,000. Bessemer Group Inc. lifted its stake in shares of Electronic Arts by 144.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,325 shares of the game software company’s stock valued at $157,000 after acquiring an additional 783 shares during the last quarter. Finally, Texas Yale Capital Corp. bought a new position in shares of Electronic Arts in the 3rd quarter valued at $205,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.
EA stock traded down $2.87 during mid-day trading on Friday, reaching $118.36. 2,456,288 shares of the company traded hands, compared to its average volume of 2,721,206. The company has a market capitalization of $37,184.64, a P/E ratio of 39.99, a price-to-earnings-growth ratio of 1.86 and a beta of 0.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.92 and a current ratio of 1.92. Electronic Arts Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $131.13.
Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, January 30th. The game software company reported $2.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.03. Electronic Arts had a net margin of 19.67% and a return on equity of 25.42%. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.02 billion. sell-side analysts forecast that Electronic Arts Inc. will post 3.66 earnings per share for the current fiscal year.
A number of research analysts have recently commented on EA shares. Goldman Sachs cut Electronic Arts from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. BMO Capital Markets upgraded Electronic Arts from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $112.39 to $97.00 in a research note on Monday, January 8th. They noted that the move was a valuation call. Vetr upgraded Electronic Arts from a “sell” rating to a “hold” rating and set a $124.90 price target for the company in a research note 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, Morgan Stanley lowered Electronic Arts from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $112.00 to $126.00 in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Electronic Arts has an average rating of “Buy” and a consensus price target of $132.81.
In related news, CFO Blake J. Jorgensen sold 10,500 shares of Electronic Arts stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $112.85, for a total value of $1,184,925.00. Following the sale, the chief financial officer now owns 159,114 shares of the company’s stock, valued at approximately $17,956,014.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Bruzzo sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $128.31, for a total transaction of $192,465.00. Following the completion of the sale, the executive vice president now directly owns 36,762 shares in the company, valued at approximately $4,716,932.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,579 shares of company stock worth $11,171,399. Insiders own 2.55% of the company’s stock.
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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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