Perennial Advisors LLC boosted its position in Electronic Arts Inc. (NASDAQ:EA) by 6.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,824 shares of the game software company’s stock after purchasing an additional 606 shares during the quarter. Perennial Advisors LLC’s holdings in Electronic Arts were worth $1,184,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. IFM Investors Pty Ltd raised its stake in shares of Electronic Arts by 46.0% in the second quarter. IFM Investors Pty Ltd now owns 13,878 shares of the game software company’s stock worth $1,957,000 after acquiring an additional 4,375 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Electronic Arts by 17.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,479 shares of the game software company’s stock worth $773,000 after buying an additional 800 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Electronic Arts by 5.2% during the second quarter. State of Alaska Department of Revenue now owns 48,574 shares of the game software company’s stock worth $6,849,000 after buying an additional 2,405 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Electronic Arts by 0.7% during the second quarter. Xact Kapitalforvaltning AB now owns 56,992 shares of the game software company’s stock worth $8,037,000 after buying an additional 371 shares during the last quarter. Finally, Gofen & Glossberg LLC IL bought a new stake in shares of Electronic Arts during the second quarter worth approximately $388,000. Institutional investors and hedge funds own 94.21% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. UBS Group raised shares of Electronic Arts to a “positive” rating in a research note on Thursday, July 12th. Wedbush restated a “buy” rating and set a $158.00 price objective on shares of Electronic Arts in a report on Monday, July 23rd. Stifel Nicolaus boosted their price objective on shares of Electronic Arts from $157.00 to $159.00 and gave the company a “$146.56” rating in a report on Monday, July 23rd. Piper Jaffray Companies boosted their price objective on shares of Electronic Arts to $165.00 and gave the company an “overweight” rating in a report on Wednesday, July 25th. Finally, Credit Suisse Group boosted their price objective on shares of Electronic Arts from $143.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $134.68.
Electronic Arts stock traded up $0.79 during trading hours on Wednesday, reaching $93.02. 21,174 shares of the stock were exchanged, compared to its average volume of 6,098,781. The company has a market capitalization of $28.18 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.59 and a beta of 0.96. The company has a quick ratio of 3.84, a current ratio of 3.52 and a debt-to-equity ratio of 0.19. Electronic Arts Inc. has a twelve month low of $89.12 and a twelve month high of $151.26.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, October 30th. The game software company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.46. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Electronic Arts had a net margin of 18.76% and a return on equity of 26.01%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. On average, sell-side analysts expect that Electronic Arts Inc. will post 3.87 earnings per share for the current year.
In other Electronic Arts news, CEO Andrew Wilson sold 29,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $113.13, for a total transaction of $3,280,770.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares in the company, valued at approximately $2,262,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Laura Miele sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $93.83, for a total transaction of $117,287.50. Following the transaction, the insider now owns 10,961 shares of the company’s stock, valued at approximately $1,028,470.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,250 shares of company stock valued at $11,226,348. 2.24% of the stock is owned by company insiders.
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Electronic Arts 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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