Electronic Arts Inc. (EA) Shares Sold by Intrust Bank NA
Intrust Bank NA decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 6.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,126 shares of the game software company’s stock after selling 153 shares during the period. Intrust Bank NA’s holdings in Electronic Arts were worth $225,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Great Lakes Advisors LLC boosted its position in Electronic Arts by 3.3% in the second quarter. Great Lakes Advisors LLC now owns 3,554 shares of the game software company’s stock valued at $376,000 after buying an additional 115 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in Electronic Arts by 8.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,586 shares of the game software company’s stock valued at $1,648,000 after buying an additional 1,155 shares during the period. Geneva Advisors LLC acquired a new position in Electronic Arts during the second quarter valued at approximately $746,000. ProVise Management Group LLC boosted its position in Electronic Arts by 0.8% in the second quarter. ProVise Management Group LLC now owns 4,324 shares of the game software company’s stock valued at $458,000 after buying an additional 36 shares during the period. Finally, Aviva PLC boosted its position in Electronic Arts by 3.3% in the second quarter. Aviva PLC now owns 188,458 shares of the game software company’s stock valued at $19,926,000 after buying an additional 5,950 shares during the period. Institutional investors own 93.88% of the company’s stock.
Electronic Arts Inc. (NASDAQ:EA) opened at 121.97 on Thursday. The company has a 50 day moving average price of $114.74 and a 200-day moving average price of $101.99. Electronic Arts Inc. has a 52-week low of $73.74 and a 52-week high of $122.08. The firm has a market cap of $37.66 billion, a price-to-earnings ratio of 32.66 and a beta of 0.72.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, topping 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 million during the quarter, compared to analyst estimates of $768.47 million. During the same period last year, the company posted $0.07 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts anticipate that Electronic Arts Inc. will post $4.24 EPS for the current year.
Electronic Arts declared that its board has initiated a share repurchase plan on Tuesday, May 9th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the game software company to buy up to 45% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
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Several research firms have recently commented on EA. KeyCorp reiterated a “buy” rating and set a $134.00 target price on shares of Electronic Arts in a research note on Friday, August 25th. Zacks Investment Research cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Benchmark Co. restated a “buy” rating and set a $136.00 price objective (up from $131.00) on shares of Electronic Arts in a research note on Sunday, July 30th. Cowen and Company restated a “market perform” rating and set a $106.00 price objective (up from $90.00) on shares of Electronic Arts in a research note on Sunday, July 30th. Finally, Robert W. Baird restated an “outperform” rating and set a $130.00 price objective (up from $115.00) on shares of Electronic Arts in a research note on Sunday, July 30th. Four equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $115.97.
In related news, Director Lawrence F. Probst III sold 68,072 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $118.83, for a total value of $8,088,995.76. Following the completion of the sale, the director now directly owns 176,348 shares of the company’s stock, valued at approximately $20,955,432.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake J. Jorgensen sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $107.90, for a total value of $1,079,000.00. Following the completion of the sale, the chief financial officer now directly owns 229,614 shares of the company’s stock, valued at $24,775,350.60. The disclosure for this sale can be found here. Insiders sold a total of 277,689 shares of company stock valued at $31,474,230 over the last ninety days. 2.55% of the stock is currently owned by corporate insiders.
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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