OppenheimerFunds Inc. decreased its position in Electronic Arts Inc. (NASDAQ:EA) by 45.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,893 shares of the game software company’s stock after selling 3,288 shares during the quarter. OppenheimerFunds Inc.’s holdings in Electronic Arts were worth $472,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Electronic Arts by 6.7% in the first quarter. BlackRock Inc. now owns 22,724,888 shares of the game software company’s stock valued at $2,755,165,000 after acquiring an additional 1,427,595 shares during the period. American Century Companies Inc. lifted its holdings in Electronic Arts by 16.4% in the first quarter. American Century Companies Inc. now owns 3,354,732 shares of the game software company’s stock valued at $406,728,000 after acquiring an additional 471,449 shares during the period. Geode Capital Management LLC lifted its holdings in Electronic Arts by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 3,249,844 shares of the game software company’s stock valued at $340,709,000 after acquiring an additional 102,739 shares during the period. Swedbank lifted its holdings in Electronic Arts by 5.2% in the fourth quarter. Swedbank now owns 1,944,460 shares of the game software company’s stock valued at $204,285,000 after acquiring an additional 95,886 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its holdings in Electronic Arts by 15.0% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,736,317 shares of the game software company’s stock valued at $182,417,000 after acquiring an additional 226,192 shares during the period. 92.91% of the stock is currently owned by institutional investors.
A number of analysts have commented on the company. BidaskClub upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 16th. Benchmark restated a “buy” rating and issued a $164.00 price target on shares of Electronic Arts in a research report on Monday, June 18th. KeyCorp upped their price target on Electronic Arts from $152.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, June 18th. They noted that the move was a valuation call. Stifel Nicolaus upped their price target on Electronic Arts from $144.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, June 15th. Finally, Needham & Company LLC upped their price target on Electronic Arts from $135.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, June 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $144.91.
NASDAQ:EA opened at $137.75 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.41 and a quick ratio of 2.41. Electronic Arts Inc. has a 12-month low of $99.63 and a 12-month high of $147.13. The stock has a market cap of $43.00 billion, a P/E ratio of 34.66, a price-to-earnings-growth ratio of 2.19 and a beta of 0.77.
Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, May 8th. The game software company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.14. Electronic Arts had a return on equity of 28.51% and a net margin of 20.25%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. research analysts anticipate that Electronic Arts Inc. will post 4.27 EPS for the current year.
In other Electronic Arts news, General Counsel Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $143.61, for a total transaction of $143,610.00. Following the completion of the transaction, the general counsel now owns 20,930 shares in the company, valued at approximately $3,005,757.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Wilson sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $118.77, for a total value of $1,068,930.00. The disclosure for this sale can be found here. Insiders have sold a total of 179,142 shares of company stock valued at $23,071,046 in the last 90 days. 2.24% of the stock is currently owned by company 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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