Eagle Asset Management Inc. Sells 110,677 Shares of Electronic Arts (EA)

Eagle Asset Management Inc. lessened its stake in Electronic Arts (NASDAQ:EA) by 16.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 559,042 shares of the game software company’s stock after selling 110,677 shares during the quarter. Eagle Asset Management Inc.’s holdings in Electronic Arts were worth $67,778,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Electronic Arts by 15.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,992 shares of the game software company’s stock valued at $605,000 after buying an additional 664 shares during the period. Bamco Inc. NY boosted its stake in shares of Electronic Arts by 114.7% in the 1st quarter. Bamco Inc. NY now owns 73,249 shares of the game software company’s stock valued at $8,881,000 after buying an additional 39,130 shares during the period. Tredje AP fonden lifted its stake in Electronic Arts by 2.9% during the first quarter. Tredje AP fonden now owns 31,583 shares of the game software company’s stock worth $3,829,000 after purchasing an additional 899 shares during the last quarter. Regis Management CO LLC purchased a new stake in Electronic Arts during the first quarter worth approximately $3,159,000. Finally, Teacher Retirement System of Texas lifted its stake in Electronic Arts by 19.2% during the first quarter. Teacher Retirement System of Texas now owns 220,082 shares of the game software company’s stock worth $26,683,000 after purchasing an additional 35,522 shares during the last quarter. Institutional investors and hedge funds own 94.74% of the company’s stock.

EA has been the subject of several recent analyst reports. SunTrust Banks restated a “buy” rating and set a $135.00 target price on shares of Electronic Arts in a research note on Wednesday, January 31st. Wedbush restated a “buy” rating and set a $138.00 target price on shares of Electronic Arts in a research note on Wednesday, January 31st. Piper Jaffray restated a “buy” rating and set a $145.00 target price on shares of Electronic Arts in a research note on Wednesday, January 31st. Jefferies Group restated a “buy” rating and set a $150.00 target price on shares of Electronic Arts in a research note on Wednesday, January 31st. Finally, Benchmark boosted their target price on Electronic Arts from $136.00 to $141.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $139.92.

Electronic Arts opened at $132.00 on Friday, according to Marketbeat. The company has a market cap of $40.12 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.05 and a beta of 0.82. Electronic Arts has a 52 week low of $99.63 and a 52 week high of $134.58. The company has a current ratio of 2.41, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

In other news, EVP Joel Linzner sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $131.72, for a total value of $790,320.00. Following the transaction, the executive vice president now owns 18,340 shares of the company’s stock, valued at $2,415,744.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Blake J. Jorgensen sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $118.23, for a total value of $1,241,415.00. Following the completion of the transaction, the chief financial officer now directly owns 117,114 shares in the company, valued at approximately $13,846,388.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,754 shares of company stock worth $9,753,988. 2.55% of the stock is currently owned by corporate insiders.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, personal computers, mobile phones, and tablets worldwide. It develops and publishes games primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v. Zombies brands; and license games from others, such as FIFA, Madden NFL, and Star Wars, as well as publishes and distributes games developed by third parties.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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