Sumitomo Mitsui Trust Holdings Inc. Trims Holdings in Electronic Arts Inc. (EA)
Sumitomo Mitsui Trust Holdings Inc. cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 886,787 shares of the game software company’s stock after selling 35,820 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.29% of Electronic Arts worth $104,694,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in EA. Renaissance Technologies LLC increased its holdings in shares of Electronic Arts by 928.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,586,064 shares of the game software company’s stock valued at $273,399,000 after acquiring an additional 2,334,600 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Electronic Arts in the 3rd quarter valued at $148,789,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Electronic Arts by 145.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,784 shares of the game software company’s stock valued at $127,793,000 after acquiring an additional 715,862 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Electronic Arts by 65.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,425,278 shares of the game software company’s stock valued at $150,688,000 after acquiring an additional 561,322 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Electronic Arts by 103.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,012,999 shares of the game software company’s stock valued at $107,094,000 after acquiring an additional 515,608 shares during the period. Institutional investors and hedge funds own 94.56% of the company’s stock.
A number of research analysts have recently issued reports on EA shares. Zacks Investment Research downgraded Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Goldman Sachs Group, Inc. (The) initiated coverage on Electronic Arts in a research note on Friday, September 8th. They set a “buy” rating and a $136.00 target price on the stock. BidaskClub downgraded Electronic Arts from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Piper Jaffray Companies restated a “buy” rating and set a $128.00 target price on shares of Electronic Arts in a research note on Thursday, October 12th. Finally, Cowen and Company restated a “hold” rating and set a $106.00 target price on shares of Electronic Arts in a research note on Friday, September 8th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Electronic Arts currently has an average rating of “Buy” and an average price target of $123.38.
Shares of Electronic Arts Inc. (NASDAQ EA) traded down $0.79 during trading on Thursday, hitting $111.48. The company had a trading volume of 2,585,900 shares, compared to its average volume of 2,854,173. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.23. Electronic Arts Inc. has a 1 year low of $73.74 and a 1 year high of $122.79. The stock has a market cap of $34,570.79, a price-to-earnings ratio of 28.86, a PEG ratio of 1.84 and a beta of 0.65.
In related news, Director Lawrence F. Probst III sold 55,850 shares of Electronic Arts stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $121.18, for a total value of $6,767,903.00. Following the completion of the transaction, the director now owns 171,123 shares in the company, valued at approximately $20,736,685.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $120.77, for a total value of $120,770.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,524 shares of company stock valued at $14,538,985. 2.55% of the stock is owned by company insiders.
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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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