Howe & Rusling Inc. lowered its position in Electronic Arts Inc. (NASDAQ:EA) by 89.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,790 shares of the game software company’s stock after selling 49,241 shares during the quarter. Howe & Rusling Inc.’s holdings in Electronic Arts were worth $457,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Baystate Wealth Management LLC lifted its holdings in Electronic Arts by 373.1% in the 4th quarter. Baystate Wealth Management LLC now owns 317 shares of the game software company’s stock worth $29,000 after buying an additional 250 shares in the last quarter. Legacy Financial Advisors Inc. raised its stake in shares of Electronic Arts by 692.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 610 shares of the game software company’s stock valued at $48,000 after purchasing an additional 533 shares in the last quarter. IMS Capital Management acquired a new stake in shares of Electronic Arts in the 3rd quarter valued at about $70,000. CI Investments Inc. acquired a new stake in shares of Electronic Arts in the 3rd quarter valued at about $120,000. Finally, Massey Quick Simon & CO. LLC raised its stake in shares of Electronic Arts by 165.4% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,083 shares of the game software company’s stock valued at $130,000 after purchasing an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.
In other Electronic Arts news, insider Laura Miele sold 1,250 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $79.51, for a total value of $99,387.50. Following the completion of the transaction, the insider now owns 8,461 shares in the company, valued at approximately $672,734.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew Wilson sold 9,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $84.36, for a total transaction of $759,240.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,200 shares of company stock valued at $3,425,351. Insiders own 2.24% of the company’s stock.
Shares of NASDAQ:EA opened at $97.60 on Friday. The company has a quick ratio of 3.52, a current ratio of 2.99 and a debt-to-equity ratio of 0.19. Electronic Arts Inc. has a fifty-two week low of $73.91 and a fifty-two week high of $151.26. The stock has a market cap of $25.20 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, February 5th. The game software company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.12. Electronic Arts had a net margin of 26.77% and a return on equity of 23.21%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm earned ($0.60) EPS. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, equities analysts expect that Electronic Arts Inc. will post 3.08 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on EA. BMO Capital Markets restated a “buy” rating and issued a $96.00 target price on shares of Electronic Arts in a research note on Thursday. ValuEngine lowered shares of Electronic Arts from a “hold” rating to a “sell” rating in a research note on Thursday. Robert W. Baird cut their target price on shares of Electronic Arts from $154.00 to $90.00 in a research note on Wednesday. Oppenheimer cut their target price on shares of Electronic Arts from $115.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Bank of America cut their target price on shares of Electronic Arts from $113.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Electronic Arts currently has a consensus rating of “Buy” and a consensus target price of $113.69.
About Electronic Arts
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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