South Texas Money Management Ltd. bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 216,042 shares of the game software company’s stock, valued at approximately $30,466,000. Electronic Arts makes up approximately 1.3% of South Texas Money Management Ltd.’s portfolio, making the stock its 27th largest position. South Texas Money Management Ltd. owned about 0.07% of Electronic Arts as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kaizen Advisory LLC raised its stake in Electronic Arts by 159.5% in the second quarter. Kaizen Advisory LLC now owns 763 shares of the game software company’s stock valued at $108,000 after buying an additional 469 shares during the period. Alpha Windward LLC bought a new stake in Electronic Arts in the second quarter valued at approximately $113,000. Private Capital Group LLC raised its stake in Electronic Arts by 781.5% in the first quarter. Private Capital Group LLC now owns 952 shares of the game software company’s stock valued at $115,000 after buying an additional 844 shares during the period. Wealthcare Advisory Partners LLC raised its stake in Electronic Arts by 33,333.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,003 shares of the game software company’s stock valued at $122,000 after buying an additional 1,000 shares during the period. Finally, Archford Capital Strategies LLC bought a new stake in Electronic Arts in the first quarter valued at approximately $138,000. Institutional investors and hedge funds own 93.01% of the company’s stock.
Several analysts have issued reports on EA shares. Stifel Nicolaus upped their price objective on Electronic Arts from $157.00 to $159.00 and gave the company a “$146.56” rating in a research note on Monday, July 23rd. Benchmark reaffirmed a “buy” rating and issued a $164.00 target price on shares of Electronic Arts in a research report on Monday, June 18th. Barclays reaffirmed a “buy” rating and issued a $139.00 target price on shares of Electronic Arts in a research report on Wednesday, May 9th. MKM Partners upped their target price on Electronic Arts to $144.00 and gave the company a “buy” rating in a research report on Wednesday, May 9th. Finally, Wedbush set a $158.00 target price on Electronic Arts and gave the company a “buy” rating in a research report on Wednesday, May 9th. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $147.95.
In other Electronic Arts news, CFO Blake J. Jorgensen sold 10,500 shares of the firm’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $135.83, for a total value of $1,426,215.00. Following the sale, the chief financial officer now owns 163,341 shares of the company’s stock, valued at approximately $22,186,608.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 10,309 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $132.17, for a total value of $1,362,540.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,109 shares of company stock worth $16,592,454. Company insiders own 2.24% of the company’s stock.
Shares of NASDAQ:EA opened at $128.01 on Friday. The company has a market cap of $40.03 billion, a P/E ratio of 37.21, a P/E/G ratio of 2.04 and a beta of 0.61. Electronic Arts Inc. has a 1 year low of $99.63 and a 1 year high of $151.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.84 and a current ratio of 3.84.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Thursday, July 26th. The game software company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.19. The business had revenue of $749.00 million for the quarter, compared to the consensus estimate of $742.86 million. Electronic Arts had a return on equity of 25.31% and a net margin of 14.30%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.06 earnings per share. analysts anticipate that Electronic Arts Inc. will post 4.3 EPS for the current fiscal year.
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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