Great West Life Assurance Co. Can Increases Holdings in Electronic Arts Inc. (EA)
Great West Life Assurance Co. Can raised its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 37.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,076 shares of the game software company’s stock after purchasing an additional 72,046 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Electronic Arts were worth $26,676,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. North Star Investment Management Corp. acquired a new stake in shares of Electronic Arts during the first quarter worth $29,000. Baystate Wealth Management LLC lifted its holdings in shares of Electronic Arts by 373.1% during the fourth quarter. Baystate Wealth Management LLC now owns 317 shares of the game software company’s stock worth $29,000 after buying an additional 250 shares in the last quarter. Ropes Wealth Advisors LLC acquired a new stake in shares of Electronic Arts during the first quarter worth $34,000. Cornerstone Advisors Inc. lifted its holdings in shares of Electronic Arts by 86.6% during the first quarter. Cornerstone Advisors Inc. now owns 349 shares of the game software company’s stock worth $35,000 after buying an additional 162 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in shares of Electronic Arts during the fourth quarter worth $28,000. 92.36% of the stock is owned by institutional investors and hedge funds.
In related news, General Counsel Jacob J. Schatz sold 7,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $96.86, for a total value of $678,020.00. Following the transaction, the general counsel now owns 19,168 shares in the company, valued at $1,856,612.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 9,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $96.57, for a total value of $869,130.00. The disclosure for this sale can be found here. Insiders sold 78,185 shares of company stock worth $7,746,530 in the last 90 days. 2.24% of the stock is owned by company insiders.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, May 7th. The game software company reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.43. Electronic Arts had a return on equity of 22.62% and a net margin of 20.59%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business earned $1.31 earnings per share. Electronic Arts’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts anticipate that Electronic Arts Inc. will post 3.79 EPS for the current year.
EA has been the subject of a number of research reports. Robert W. Baird dropped their target price on Electronic Arts from $154.00 to $90.00 in a report on Wednesday, February 6th. BMO Capital Markets reissued a “buy” rating and set a $96.00 target price on shares of Electronic Arts in a report on Thursday, February 7th. Benchmark dropped their target price on Electronic Arts from $153.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, February 6th. They noted that the move was a valuation call. MKM Partners dropped their target price on Electronic Arts to $112.00 and set a “buy” rating for the company in a report on Wednesday, January 30th. Finally, Wedbush reissued a “buy” rating and set a $111.00 target price (down previously from $133.00) on shares of Electronic Arts in a report on Wednesday, January 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the stock. Electronic Arts presently has an average rating of “Buy” and an average target price of $111.32.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.
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