Electronic Arts Inc. (EA) Stake Decreased by Macquarie Group Ltd.
Macquarie Group Ltd. cut its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 28.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,373,804 shares of the game software company’s stock after selling 537,201 shares during the period. Macquarie Group Ltd. owned 0.44% of Electronic Arts worth $145,238,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Electronic Arts by 0.7% in the 2nd quarter. FMR LLC now owns 30,692,180 shares of the game software company’s stock valued at $3,244,778,000 after purchasing an additional 205,768 shares during the period. Vanguard Group Inc. lifted its stake in Electronic Arts by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after purchasing an additional 2,394,314 shares during the last quarter. BlackRock Inc. grew its holdings in Electronic Arts by 3,420.8% during the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock worth $1,858,837,000 after purchasing an additional 20,174,721 shares during the period. State Street Corp grew its holdings in Electronic Arts by 2.8% during the first quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock worth $1,064,069,000 after purchasing an additional 318,704 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Electronic Arts by 15.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,077,235 shares of the game software company’s stock worth $723,074,000 after purchasing an additional 1,064,602 shares during the period. Institutional investors own 93.84% of the company’s stock.
A number of brokerages have weighed in on EA. Morgan Stanley reissued an “overweight” rating and set a $128.00 price target (up previously from $126.00) on shares of Electronic Arts in a research report on Monday. Barclays PLC started coverage on Electronic Arts in a research note on Wednesday. They issued an “overweight” rating and a $129.00 price objective on the stock. Wedbush reaffirmed a “buy” rating on shares of Electronic Arts in a research report on Friday, July 28th. KeyCorp reaffirmed a “buy” rating on shares of Electronic Arts in a research report on Sunday, July 30th. Finally, Zacks Investment Research upgraded Electronic Arts from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $119.43.
In related news, SVP Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $120.77, for a total transaction of $120,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake J. Jorgensen sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $117.14, for a total value of $1,171,400.00. Following the transaction, the chief financial officer now owns 199,614 shares of the company’s stock, valued at $23,382,783.96. The disclosure for this sale can be found here. Insiders sold 185,538 shares of company stock valued at $22,021,739 over the last 90 days. 2.55% of the stock is owned by company insiders.
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Shares of Electronic Arts Inc. (NASDAQ:EA) traded down 0.35% during trading on Wednesday, hitting $117.55. 503,421 shares of the stock traded hands. Electronic Arts Inc. has a 1-year low of $73.74 and a 1-year high of $122.79. The stock has a 50-day moving average of $118.39 and a 200 day moving average of $108.07. The company has a market cap of $36.29 billion, a P/E ratio of 31.47 and a beta of 0.69.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The firm had revenue of $775.00 million for the quarter, compared to analysts’ expectations of $768.47 million. During the same period in the prior year, the business posted $0.07 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. On average, equities research analysts predict that Electronic Arts Inc. will post $4.24 EPS for the current fiscal year.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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