Electronic Arts Inc. (NASDAQ:EA) CFO Blake J. Jorgensen sold 10,500 shares of Electronic Arts stock in a transaction on Tuesday, July 3rd. The shares were sold at an average price of $143.24, for a total value of $1,504,020.00. Following the completion of the transaction, the chief financial officer now directly owns 150,691 shares of the company’s stock, valued at $21,584,978.84. The sale was disclosed in a legal filing with the SEC, which is available through this link.
EA stock traded up $1.87 during midday trading on Friday, reaching $145.10. 1,587,389 shares of the stock were exchanged, compared to its average volume of 3,352,336. The firm has a market capitalization of $43.26 billion, a P/E ratio of 41.64, a P/E/G ratio of 2.20 and a beta of 0.76. Electronic Arts Inc. has a 52 week low of $99.63 and a 52 week high of $147.13. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.22.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, May 8th. The game software company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.14. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Electronic Arts had a return on equity of 28.51% and a net margin of 20.25%. equities research analysts expect that Electronic Arts Inc. will post 4.27 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. DnB Asset Management AS bought a new stake in shares of Electronic Arts in the 2nd quarter valued at about $5,512,000. Gulf International Bank UK Ltd grew its position in shares of Electronic Arts by 4.4% in the 2nd quarter. Gulf International Bank UK Ltd now owns 99,749 shares of the game software company’s stock valued at $14,066,000 after buying an additional 4,170 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Electronic Arts by 46.7% in the 1st quarter. Brown Advisory Inc. now owns 3,076,162 shares of the game software company’s stock valued at $373,023,000 after buying an additional 979,229 shares during the last quarter. Brasada Capital Management LP grew its position in shares of Electronic Arts by 48.6% in the 1st quarter. Brasada Capital Management LP now owns 3,861 shares of the game software company’s stock valued at $468,000 after buying an additional 1,263 shares during the last quarter. Finally, Ibex Wealth Advisors grew its position in shares of Electronic Arts by 3.2% in the 1st quarter. Ibex Wealth Advisors now owns 24,589 shares of the game software company’s stock valued at $2,919,000 after buying an additional 758 shares during the last quarter. Institutional investors and hedge funds own 92.91% of the company’s stock.
Several brokerages have weighed in on EA. BidaskClub raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 16th. Benchmark reaffirmed a “buy” rating and issued a $164.00 price objective on shares of Electronic Arts in a report on Monday, June 18th. KeyCorp lifted their price objective on Electronic Arts from $152.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, June 18th. They noted that the move was a valuation call. Stifel Nicolaus lifted their price objective on Electronic Arts from $144.00 to $157.00 and gave the company a “buy” rating in a report on Friday, June 15th. Finally, Needham & Company LLC boosted their price target on Electronic Arts from $135.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, June 22nd. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $144.91.
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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