BlackRock Advisors LLC Buys 53,777 Shares of Electronic Arts Inc. (EA)
BlackRock Advisors LLC increased its position in Electronic Arts Inc. (NASDAQ:EA) by 10.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 546,065 shares of the game software company’s stock after buying an additional 53,777 shares during the period. BlackRock Advisors LLC owned approximately 0.18% of Electronic Arts worth $41,370,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Electronic Arts during the second quarter worth $168,000. SSI Investment Management Inc. acquired a new stake in Electronic Arts during the second quarter worth $200,000. Stephens Inc. AR boosted its stake in Electronic Arts by 64.5% in the second quarter. Stephens Inc. AR now owns 3,174 shares of the game software company’s stock worth $240,000 after buying an additional 1,245 shares in the last quarter. CENTRAL TRUST Co boosted its stake in Electronic Arts by 5.3% in the second quarter. CENTRAL TRUST Co now owns 3,290 shares of the game software company’s stock worth $249,000 after buying an additional 166 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its stake in Electronic Arts by 7.0% in the first quarter. First Republic Investment Management Inc. now owns 3,338 shares of the game software company’s stock worth $221,000 after buying an additional 217 shares in the last quarter.
Shares of Electronic Arts Inc. (NASDAQ:EA) opened at 82.77 on Tuesday. Electronic Arts Inc. has a 52-week low of $53.01 and a 52-week high of $84.45. The firm has a market cap of $24.89 billion, a P/E ratio of 23.32 and a beta of 0.72. The company has a 50 day moving average price of $80.60 and a 200-day moving average price of $73.16.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, August 2nd. The game software company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.09. The business earned $682 million during the quarter, compared to the consensus estimate of $652.64 million. Electronic Arts had a return on equity of 24.97% and a net margin of 25.85%. Electronic Arts’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. On average, analysts expect that Electronic Arts Inc. will post $3.63 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the company. Vetr cut Electronic Arts from a “buy” rating to a “hold” rating and set a $84.80 price target for the company. in a report on Monday. Bank of America Corp. reaffirmed a “buy” rating on shares of Electronic Arts in a report on Friday. Stifel Nicolaus raised their price target on Electronic Arts from $83.00 to $87.00 and gave the company a “buy” rating in a report on Monday, September 12th. Zacks Investment Research raised Electronic Arts from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Thursday, August 25th. Finally, Cowen and Company reissued an “outperform” rating and issued a $83.00 target price on shares of Electronic Arts in a research note on Tuesday, August 23rd. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $87.09.
In other Electronic Arts news, SVP Kenneth A. Barker sold 15,909 shares of the stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $81.39, for a total transaction of $1,294,833.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 8,000 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $75.96, for a total value of $607,680.00. Following the sale, the chief executive officer now owns 256,581 shares of the company’s stock, valued at $19,489,892.76. The disclosure for this sale can be found here. Company insiders own 3.46% of the company’s stock.
About Electronic Arts
Electronic Arts Inc is a game software content and services provider. The Company develops, markets, publishes and distributes game software content for consumers of various video game machines and electronic devices. It also provides game software-related services. The Company’s brands include Battlefield, Mass Effect, Need for Speed, Dragon Age, The Sims, Bejeweled and Plants v.
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