Municipal Employees Retirement System of Michigan reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,120 shares of the game software company’s stock after selling 2,270 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Electronic Arts were worth $1,070,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in EA. TimesSquare Capital Management LLC raised its stake in shares of Electronic Arts by 0.5% in the first quarter. TimesSquare Capital Management LLC now owns 767,500 shares of the game software company’s stock valued at $68,707,000 after buying an additional 3,600 shares during the period. Foundry Partners LLC raised its stake in shares of Electronic Arts by 17.9% in the first quarter. Foundry Partners LLC now owns 13,944 shares of the game software company’s stock valued at $1,248,000 after buying an additional 2,116 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of Electronic Arts by 529.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 50,647 shares of the game software company’s stock valued at $5,354,000 after buying an additional 42,599 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Electronic Arts by 15.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,077,235 shares of the game software company’s stock valued at $723,074,000 after buying an additional 1,064,602 shares during the period. Finally, State Street Corp raised its stake in shares of Electronic Arts by 2.8% in the first quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock valued at $1,064,069,000 after buying an additional 318,704 shares during the period. 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’s 50 day moving average is $112.06 and its 200 day moving average is $99.21. The stock has a market capitalization of $35.22 billion, a PE ratio of 30.52 and a beta of 0.72. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $120.25.

Electronic Arts (NASDAQ:EA) last released its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The company had revenue of $775 million during the quarter, compared to the consensus estimate of $768.47 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The company’s revenue was up 13.6% compared to the same quarter last year. Analysts anticipate that Electronic Arts Inc. will post $4.24 EPS for the current fiscal year.

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

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EA has been the topic of several research analyst reports. Piper Jaffray Companies reissued a “buy” rating and set a $99.00 price target on shares of Electronic Arts in a research note on Monday, May 1st. MKM Partners reissued a “buy” rating and set a $109.00 price target (up previously from $95.00) on shares of Electronic Arts in a research note on Friday, May 5th. Mizuho set a $115.00 price target on Electronic Arts and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Vetr raised Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price target on the stock in a research note on Monday, May 8th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $123.00 price target (up previously from $110.00) on shares of Electronic Arts in a research note on Wednesday, May 10th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Electronic Arts currently has an average rating of “Buy” and an average target price of $115.19.

In other news, EVP Kenneth A. Moss sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $116.72, for a total transaction of $583,600.00. Following the transaction, the executive vice president now owns 99,449 shares in the company, valued at approximately $11,607,687.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joel Linzner sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $116.96, for a total transaction of $467,840.00. Following the transaction, the executive vice president now owns 18,089 shares in the company, valued at approximately $2,115,689.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 336,915 shares of company stock valued at $37,032,377. 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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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