Marshall Wace LLP increased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 42.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 762,504 shares of the game software company’s stock after buying an additional 226,926 shares during the quarter. Electronic Arts comprises approximately 0.8% of Marshall Wace LLP’s portfolio, making the stock its 12th largest holding. Marshall Wace LLP’s holdings in Electronic Arts were worth $91,874,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Sun Life Financial INC raised its position in Electronic Arts by 389.4% during the second quarter. Sun Life Financial INC now owns 832 shares of the game software company’s stock valued at $117,000 after acquiring an additional 662 shares in the last quarter. CI Investments Inc. bought a new position in Electronic Arts during the third quarter valued at approximately $120,000. Massey Quick Simon & CO. LLC raised its position in Electronic Arts by 165.4% during the third quarter. Massey Quick Simon & CO. LLC now owns 1,083 shares of the game software company’s stock valued at $130,000 after acquiring an additional 675 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Electronic Arts during the third quarter valued at approximately $134,000. Finally, Bray Capital Advisors bought a new position in Electronic Arts during the third quarter valued at approximately $157,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
In related news, CEO Andrew Wilson sold 9,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $84.36, for a total transaction of $759,240.00. The sale was disclosed in a document filed 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 on Tuesday, November 6th. The stock was sold at an average price of $92.79, for a total transaction of $974,295.00. Following the transaction, the chief financial officer now directly owns 104,391 shares in the company, valued at approximately $9,686,440.89. The disclosure for this sale can be found here. Insiders have sold 74,450 shares of company stock worth $7,925,690 in the last ninety days. 2.24% of the stock is currently owned by insiders.
Several equities analysts recently weighed in on EA shares. MKM Partners cut their price objective on shares of Electronic Arts to $157.00 and set a “buy” rating on the stock in a research report on Friday, August 31st. UBS Group cut their price objective on shares of Electronic Arts from $176.00 to $166.00 and set a “buy” rating on the stock in a research report on Friday, August 31st. Wedbush set a $158.00 price objective on shares of Electronic Arts and gave the company a “buy” rating in a research report on Friday, August 31st. Benchmark cut their price objective on shares of Electronic Arts from $164.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, August 31st. Finally, SunTrust Banks cut their price objective on shares of Electronic Arts to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Electronic Arts has a consensus rating of “Buy” and a consensus price target of $134.68.
Shares of NASDAQ:EA traded up $2.70 during trading on Thursday, reaching $83.88. The stock had a trading volume of 5,734,069 shares, compared to its average volume of 3,981,861. Electronic Arts Inc. has a 52 week low of $79.50 and a 52 week high of $151.26. The firm has a market cap of $24.53 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.40 and a beta of 1.02. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.19.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, October 30th. The game software company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.46. Electronic Arts had a net margin of 18.76% and a return on equity of 26.01%. The company had revenue of $1.22 billion for 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 company’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts predict that Electronic Arts Inc. will post 3.87 EPS for the current fiscal year.
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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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