First Republic Investment Management Inc. increased its stake in Electronic Arts Inc. (NASDAQ:EA) by 6.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,200 shares of the game software company’s stock after buying an additional 1,258 shares during the quarter. First Republic Investment Management Inc.’s holdings in Electronic Arts were worth $2,848,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Neuberger Berman Group LLC grew its stake in Electronic Arts by 13.3% during the 1st quarter. Neuberger Berman Group LLC now owns 413,794 shares of the game software company’s stock valued at $50,168,000 after purchasing an additional 48,522 shares in the last quarter. Bamco Inc. NY grew its stake in Electronic Arts by 114.7% during the 1st quarter. Bamco Inc. NY now owns 73,249 shares of the game software company’s stock valued at $8,881,000 after purchasing an additional 39,130 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Electronic Arts by 15.3% during 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 purchasing an additional 664 shares in the last quarter. KAMES CAPITAL plc grew its stake in Electronic Arts by 115.8% during the 1st quarter. KAMES CAPITAL plc now owns 27,555 shares of the game software company’s stock valued at $3,341,000 after purchasing an additional 14,789 shares in the last quarter. Finally, Monetta Financial Services Inc. acquired a new stake in Electronic Arts during the 1st quarter valued at approximately $2,304,000. Institutional investors and hedge funds own 92.91% of the company’s stock.
Shares of NASDAQ EA opened at $114.27 on Monday. The company has a market capitalization of $34.44 billion, a P/E ratio of 30.05, a P/E/G ratio of 1.94 and a beta of 0.55. Electronic Arts Inc. has a 12-month low of $99.63 and a 12-month high of $151.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.84 and a current ratio of 3.84.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 26th. The game software company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.19. The business had revenue of $749.00 million for the quarter, compared to the consensus estimate of $742.86 million. Electronic Arts had a return on equity of 25.31% and a net margin of 14.30%. The business’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $2.06 EPS. research analysts forecast that Electronic Arts Inc. will post 3.89 earnings per share for the current year.
EA has been the topic of a number of research analyst reports. Credit Suisse Group increased their target price on Electronic Arts from $143.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 25th. MKM Partners reduced their target price on Electronic Arts to $157.00 and set a “buy” rating on the stock in a report on Friday, August 31st. UBS Group reduced their target price on Electronic Arts from $176.00 to $166.00 and set a “buy” rating on the stock in a report on Friday, August 31st. Benchmark reduced their target price on Electronic Arts from $164.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, August 31st. Finally, Barclays set a $132.00 target price on Electronic Arts and gave the stock a “buy” rating in a report on Wednesday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $142.48.
In other Electronic Arts news, CEO Andrew Wilson sold 18,000 shares of Electronic Arts stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $142.35, for a total transaction of $2,562,300.00. Following the sale, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $2,847,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 150,691 shares in the company, valued at approximately $21,584,978.84. The disclosure for this sale can be found here. In the last three months, insiders sold 121,250 shares of company stock worth $15,454,170. Company insiders own 2.24% of the company’s stock.
Electronic Arts Profile
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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