First Mercantile Trust Co. Has $2.55 Million Stake in Electronic Arts Inc. (NASDAQ:EA)
First Mercantile Trust Co. decreased its stake in Electronic Arts Inc. (NASDAQ:EA) by 40.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,107 shares of the game software company’s stock after selling 16,647 shares during the period. First Mercantile Trust Co.’s holdings in Electronic Arts were worth $2,549,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of EA. BlackRock Inc. boosted its stake in shares of Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock valued at $1,858,837,000 after buying an additional 20,174,721 shares during the last quarter. Winslow Capital Management LLC boosted its stake in shares of Electronic Arts by 1,869,551.3% in the first quarter. Winslow Capital Management LLC now owns 2,879,263 shares of the game software company’s stock valued at $257,751,000 after buying an additional 2,879,109 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after buying an additional 2,394,314 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Electronic Arts by 24.8% in the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock valued at $845,359,000 after buying an additional 1,877,351 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Electronic Arts by 174.5% in the first quarter. AQR Capital Management LLC now owns 2,180,565 shares of the game software company’s stock valued at $195,204,000 after buying an additional 1,386,296 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.
Shares of Electronic Arts Inc. (EA) opened at 113.99 on Friday. The stock has a market cap of $35.19 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 firm’s 50-day moving average price is $112.06 and its 200-day moving average price is $99.21.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The business had revenue of $775 million during the quarter, compared to analysts’ expectations of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 EPS. On average, analysts forecast 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 repurchase plan on Tuesday, May 9th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the game software company to purchase up to 45% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have weighed in on EA shares. Vetr raised Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, July 4th. BidaskClub cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Benchmark Co. boosted their price objective on Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised Electronic Arts from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, BMO Capital Markets reissued a “hold” rating and set a $80.00 price objective on shares of Electronic Arts in a research note on Thursday, April 13th. Five 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’s stock. The company currently has a consensus rating of “Buy” and an average target price of $115.19.
In related news, CEO Andrew Wilson sold 100,000 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $111.31, for a total value of $11,131,000.00. Following the completion of the sale, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at $11,131,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Blake J. Jorgensen sold 10,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $104.56, for a total transaction of $1,045,600.00. Following the completion of the sale, the chief financial officer now directly owns 239,614 shares of the company’s stock, valued at $25,054,039.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 336,915 shares of company stock valued at $37,032,377. Corporate insiders own 2.55% of the company’s stock.
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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