Electronic Arts Inc. (NASDAQ:EA) Position Raised by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,976 shares of the game software company’s stock after buying an additional 517 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Electronic Arts were worth $2,006,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. D. Scott Neal Inc. purchased a new position in shares of Electronic Arts during the second quarter worth approximately $120,000. Guardian Life Insurance Co. of America boosted its position in shares of 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 worth $107,000 after buying an additional 34 shares in the last quarter. Invictus RG boosted its position in shares of Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after buying an additional 1,148 shares in the last quarter. Commerce Bank purchased a new position in shares of Electronic Arts during the first quarter worth approximately $203,000. Finally, Intrust Bank NA purchased a new position in shares of Electronic Arts during the first quarter worth approximately $204,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.
Electronic Arts Inc. (NASDAQ:EA) opened at 113.99 on Friday. The company has a market capitalization of $35.22 billion, a price-to-earnings ratio of 30.52 and a beta of 0.72. Electronic Arts Inc. has a 12 month low of $73.74 and a 12 month high of $120.25. The stock’s 50 day moving average price is $112.06 and its 200 day moving average price is $99.21.
Electronic Arts (NASDAQ:EA) last posted its earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.22. The company had revenue of $775 million for 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 firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 earnings per share. Equities research analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.
Electronic Arts announced that its board has approved a share repurchase program on Tuesday, May 9th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the game software company to repurchase up to 45% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
A number of research analysts have recently commented on the company. UBS AG reaffirmed a “buy” rating and set a $112.00 price target (up previously from $96.00) on shares of Electronic Arts in a research report on Thursday, May 11th. KeyCorp reaffirmed a “buy” rating on shares of Electronic Arts in a research report on Sunday, July 30th. Zacks Investment Research raised Electronic Arts from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Tuesday, August 1st. Wedbush reaffirmed a “buy” rating on shares of Electronic Arts in a research report on Friday, July 28th. Finally, Piper Jaffray Companies dropped their price target on Electronic Arts from $119.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 10th. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $115.19.
In related news, EVP Kenneth A. Moss sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $116.72, for a total value of $583,600.00. Following the sale, the executive vice president now directly owns 99,449 shares in the company, valued at $11,607,687.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Wilson sold 10,058 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $117.00, for a total value of $1,176,786.00. The disclosure for this sale can be found here. Insiders sold 336,915 shares of company stock worth $37,032,377 over the last quarter. 2.55% of the stock is owned by company 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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