Electronic Arts Inc. (EA) Position Boosted by Standard Life Aberdeen plc
Standard Life Aberdeen plc grew its stake in Electronic Arts Inc. (NASDAQ:EA) by 12.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,891,538 shares of the game software company’s stock after purchasing an additional 210,930 shares during the period. Standard Life Aberdeen plc owned approximately 0.62% of Electronic Arts worth $266,765,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. State Treasurer State of Michigan lifted its stake in shares of Electronic Arts by 0.6% in the 2nd quarter. State Treasurer State of Michigan now owns 90,806 shares of the game software company’s stock valued at $12,805,000 after purchasing an additional 500 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Electronic Arts by 333.2% in the 2nd quarter. First Trust Advisors LP now owns 243,908 shares of the game software company’s stock valued at $34,396,000 after purchasing an additional 187,609 shares during the last quarter. Covington Capital Management lifted its stake in shares of Electronic Arts by 7.5% during the 1st quarter. Covington Capital Management now owns 12,195 shares of the game software company’s stock worth $1,479,000 after acquiring an additional 851 shares during the last quarter. Global Financial Private Capital LLC lifted its stake in shares of Electronic Arts by 82.6% during the 2nd quarter. Global Financial Private Capital LLC now owns 4,135 shares of the game software company’s stock worth $583,000 after acquiring an additional 1,871 shares during the last quarter. Finally, Trellus Management Company LLC bought a new stake in shares of Electronic Arts during the 2nd quarter worth approximately $1,340,000. 92.91% of the stock is owned by institutional investors and hedge funds.
In other news, General Counsel Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $143.61, for a total value of $143,610.00. Following the completion of the sale, the general counsel now directly owns 20,930 shares in the company, valued at $3,005,757.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Chris Bruzzo sold 1,500 shares of the company’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $141.59, for a total value of $212,385.00. Following the transaction, the chief marketing officer now owns 59,964 shares in the company, valued at $8,490,302.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,250 shares of company stock valued at $15,454,170. 2.24% of the stock is owned by company insiders.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 26th. The game software company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.19. Electronic Arts had a return on equity of 25.31% and a net margin of 14.30%. The firm had revenue of $749.00 million during the quarter, compared to analyst estimates of $742.86 million. During the same quarter in the previous year, the business earned $2.06 EPS. Electronic Arts’s revenue for the quarter was down 3.4% compared to the same quarter last year. analysts predict that Electronic Arts Inc. will post 3.89 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on EA shares. Stifel Nicolaus raised their price target on Electronic Arts from $144.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, June 15th. BidaskClub raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 16th. KeyCorp raised their price objective on Electronic Arts from $152.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, June 18th. They noted that the move was a valuation call. Benchmark restated a “buy” rating and set a $164.00 price objective on shares of Electronic Arts in a report on Monday, June 18th. Finally, Needham & Company LLC raised their price objective on Electronic Arts from $135.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, June 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $142.48.
Electronic Arts Company 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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