Electronic Arts Inc. (EA) Position Decreased by BTC Capital Management Inc.
BTC Capital Management Inc. lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,180 shares of the game software company’s stock after selling 62 shares during the period. BTC Capital Management Inc.’s holdings in Electronic Arts were worth $335,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. boosted its stake in Electronic Arts by 18.8% in the first quarter. Raymond James Trust N.A. now owns 3,708 shares of the game software company’s stock valued at $332,000 after buying an additional 588 shares during the last quarter. Bank of Montreal Can boosted its stake in Electronic Arts by 3.8% in the first quarter. Bank of Montreal Can now owns 373,561 shares of the game software company’s stock valued at $33,441,000 after buying an additional 13,771 shares during the last quarter. Fox Run Management L.L.C. boosted its stake in Electronic Arts by 178.8% in the first quarter. Fox Run Management L.L.C. now owns 9,200 shares of the game software company’s stock valued at $824,000 after buying an additional 5,900 shares during the last quarter. Cim LLC boosted its stake in Electronic Arts by 4.2% in the first quarter. Cim LLC now owns 5,108 shares of the game software company’s stock valued at $457,000 after buying an additional 208 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in Electronic Arts by 25.1% in the first quarter. DnB Asset Management AS now owns 32,884 shares of the game software company’s stock valued at $2,944,000 after buying an additional 6,600 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.
Shares of Electronic Arts Inc. (NASDAQ EA) opened at 115.45 on Friday. The stock has a market capitalization of $35.64 billion, a price-to-earnings ratio of 30.91 and a beta of 0.72. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $120.25. The stock’s 50 day moving average is $112.14 and its 200-day moving average is $99.46.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.22. The firm had revenue of $775 million during the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. On average, analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.
Electronic Arts declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 9th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the game software company to repurchase up to 45% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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EA has been the topic of several research reports. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $94.00 price target on shares of Electronic Arts in a research report on Thursday, April 20th. Vetr cut shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $94.20 price target on the stock. in a research report on Thursday, April 20th. Zacks Investment Research cut shares of Electronic Arts from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Cowen and Company boosted their price target on shares of Electronic Arts from $85.00 to $90.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 25th. Finally, Pacific Crest restated an “overweight” rating and issued a $112.00 price target on shares of Electronic Arts in a research report on Wednesday, April 26th. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $115.19.
In related news, EVP Patrick Soderlund sold 55,163 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $107.14, for a total transaction of $5,910,163.82. Following the completion of the transaction, the executive vice president now directly owns 213,689 shares in the company, valued at approximately $22,894,639.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Denise Warren sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $108.84, for a total value of $108,840.00. Following the transaction, the director now owns 13,665 shares of the company’s stock, valued at $1,487,298.60. The disclosure for this sale can be found here. Insiders have sold a total of 336,915 shares of company stock valued at $37,032,377 over the last three months. Corporate insiders own 2.55% of the company’s stock.
Electronic Arts Company Profile
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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