Electronic Arts Inc. (EA) Shares Sold by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. trimmed its stake in Electronic Arts Inc. (NASDAQ:EA) by 16.3% during the 3rd quarter, Holdings Channel reports. The firm owned 56,153 shares of the game software company’s stock after selling 10,966 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Electronic Arts were worth $6,766,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in Electronic Arts by 31.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,697,249 shares of the game software company’s stock valued at $1,168,422,000 after acquiring an additional 2,339,158 shares during the last quarter. Egerton Capital UK LLP grew its position in Electronic Arts by 79.8% during the second quarter. Egerton Capital UK LLP now owns 4,041,717 shares of the game software company’s stock valued at $569,963,000 after acquiring an additional 1,794,024 shares during the last quarter. American Century Companies Inc. grew its position in Electronic Arts by 1.0% during the third quarter. American Century Companies Inc. now owns 2,936,888 shares of the game software company’s stock valued at $353,866,000 after acquiring an additional 28,127 shares during the last quarter. Winslow Capital Management LLC grew its position in Electronic Arts by 18.5% during the second quarter. Winslow Capital Management LLC now owns 2,888,223 shares of the game software company’s stock valued at $407,298,000 after acquiring an additional 450,216 shares during the last quarter. Finally, Standard Life Aberdeen plc grew its position in Electronic Arts by 12.6% during the second quarter. Standard Life Aberdeen plc now owns 1,891,538 shares of the game software company’s stock valued at $266,765,000 after acquiring an additional 210,930 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Shares of EA stock opened at $92.23 on Wednesday. Electronic Arts Inc. has a 52 week low of $89.12 and a 52 week high of $151.26. The firm has a market capitalization of $28.18 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.96. The company has a quick ratio of 3.84, a current ratio of 3.52 and a debt-to-equity ratio of 0.19.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, October 30th. The game software company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.46. Electronic Arts had a return on equity of 26.01% and a net margin of 18.76%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that Electronic Arts Inc. will post 3.87 EPS for the current fiscal year.

A number of research firms have recently weighed in on EA. Credit Suisse Group increased their price objective on Electronic Arts from $143.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 25th. Morgan Stanley dropped their price objective on Electronic Arts from $122.00 to $111.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 31st. MKM Partners dropped their price objective on Electronic Arts to $157.00 and set a “buy” rating for the company in a research note on Friday, August 31st. UBS Group dropped their price objective on Electronic Arts from $176.00 to $166.00 and set a “buy” rating for the company in a research note on Friday, August 31st. Finally, Benchmark dropped their price objective on Electronic Arts from $164.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, August 31st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $134.68.

In other Electronic Arts news, CEO Andrew Wilson sold 29,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $113.13, for a total transaction of $3,280,770.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $2,262,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $128.00, for a total value of $128,000.00. The disclosure for this sale can be found here. Insiders sold 99,250 shares of company stock valued at $11,226,348 in the last ninety days. 2.24% of the stock is currently owned by insiders.

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

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