Cubist Systematic Strategies LLC trimmed its position in Electronic Arts Inc. (NASDAQ:EA) by 80.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,928 shares of the game software company’s stock after selling 33,150 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Electronic Arts were worth $961,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in EA. Wealthcare Advisory Partners LLC boosted its position in Electronic Arts by 33,333.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,003 shares of the game software company’s stock valued at $122,000 after purchasing an additional 1,000 shares during the period. Archford Capital Strategies LLC bought a new stake in shares of Electronic Arts in the 1st quarter worth $138,000. Wealthstreet Investment Advisors LLC acquired a new stake in shares of Electronic Arts during the first quarter worth $213,000. Texas Yale Capital Corp. acquired a new stake in shares of Electronic Arts during the first quarter worth $215,000. Finally, Partnervest Advisory Services LLC acquired a new stake in shares of Electronic Arts during the first quarter worth $231,000. Institutional investors and hedge funds own 92.91% of the company’s stock.
EA has been the topic of a number of recent research reports. Needham & Company LLC boosted their target price on Electronic Arts from $135.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. Benchmark reaffirmed a “buy” rating and issued a $164.00 price target on shares of Electronic Arts in a report on Monday, June 18th. KeyCorp upped their price target on Electronic Arts from $152.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, June 18th. They noted that the move was a valuation call. BidaskClub raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 16th. Finally, Stifel Nicolaus raised their price objective on Electronic Arts from $144.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, June 15th. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Electronic Arts has an average rating of “Buy” and an average price target of $144.91.
Electronic Arts opened at $141.02 on Friday, MarketBeat.com reports. The firm has a market cap of $43.08 billion, a PE ratio of 40.99, a P/E/G ratio of 2.19 and a beta of 0.77. Electronic Arts Inc. has a fifty-two week low of $99.63 and a fifty-two week high of $147.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.41 and a current ratio of 2.41.
Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, May 8th. The game software company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.14. Electronic Arts had a net margin of 20.25% and a return on equity of 28.51%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. equities analysts forecast that Electronic Arts Inc. will post 4.27 earnings per share for the current year.
In related news, CFO Blake J. Jorgensen sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $118.23, for a total transaction of $1,241,415.00. Following the completion of the sale, the chief financial officer now directly owns 117,114 shares in the company, valued at $13,846,388.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Wilson sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $118.77, for a total transaction of $1,068,930.00. The disclosure for this sale can be found here. Insiders sold 179,142 shares of company stock valued at $23,071,046 over the last ninety days. Corporate insiders own 2.24% of the company’s stock.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, personal computers, mobile phones, and tablets worldwide. It develops and publishes games primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v. Zombies brands; and license games from others, such as FIFA, Madden NFL, and Star Wars, as well as publishes and distributes games developed by third parties.
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