Eagle Asset Management Inc. decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 563,958 shares of the game software company’s stock after selling 7,883 shares during the period. Eagle Asset Management Inc. owned 0.18% of Electronic Arts worth $59,621,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in EA. Guardian Life Insurance Co. of America boosted its position in Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after buying an additional 34 shares in the last quarter. Invictus RG boosted its position in Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after buying an additional 1,148 shares in the last quarter. D. Scott Neal Inc. purchased a new position in Electronic Arts during the second quarter valued at $120,000. Commerce Bank purchased a new position in Electronic Arts during the first quarter valued at $203,000. Finally, Intrust Bank NA purchased a new position in Electronic Arts during the first quarter valued at $204,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Electronic Arts Inc. (NASDAQ EA) opened at 121.50 on Friday. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $122.79. The stock has a market capitalization of $37.51 billion, a P/E ratio of 32.53 and a beta of 0.72. The company’s 50-day moving average price is $116.05 and its 200 day moving average price is $103.05.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $775 million for the quarter, compared to analysts’ expectations of $768.47 million. During the same period last year, the firm earned $0.07 earnings per share. Electronic Arts’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts expect that Electronic Arts Inc. will post $4.24 EPS for the current fiscal year.

Electronic Arts announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 9th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the game software company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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Several research firms have weighed in on EA. BidaskClub cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Friday, June 30th. KeyCorp restated a “buy” rating on shares of Electronic Arts in a report on Sunday, July 30th. Piper Jaffray Companies cut their price target on Electronic Arts from $119.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, May 10th. Bank of America Corporation restated a “neutral” rating and set a $104.00 price target on shares of Electronic Arts in a report on Monday, May 8th. Finally, Morgan Stanley raised their price target on Electronic Arts from $114.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, June 7th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. Electronic Arts presently has an average rating of “Buy” and a consensus price target of $115.97.

In other Electronic Arts news, EVP Chris Bruzzo sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $105.98, for a total transaction of $158,970.00. Following the transaction, the executive vice president now owns 33,345 shares of the company’s stock, valued at $3,533,903.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick Soderlund sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $111.32, for a total value of $5,566,000.00. Following the transaction, the executive vice president now directly owns 139,507 shares in the company, valued at approximately $15,529,919.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 277,689 shares of company stock worth $31,474,230. 2.55% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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