Kornitzer Capital Management Inc. KS trimmed its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,856 shares of the game software company’s stock after selling 924 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Electronic Arts were worth $3,410,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Valeo Financial Advisors LLC bought a new position in Electronic Arts during the 2nd quarter valued at $28,000. North Star Investment Management Corp. bought a new position in Electronic Arts during the 3rd quarter valued at $28,000. Sandy Spring Bank boosted its stake in Electronic Arts by 52.4% during the 3rd quarter. Sandy Spring Bank now owns 320 shares of the game software company’s stock valued at $31,000 after acquiring an additional 110 shares during the last quarter. Usca Ria LLC bought a new position in Electronic Arts during the 3rd quarter valued at $36,000. Finally, Quest Capital Management Inc. ADV bought a new position in Electronic Arts during the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 92.75% of the company’s stock.
In other Electronic Arts news, CEO Andrew Wilson sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $93.91, for a total value of $845,190.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake J. Jorgensen sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $92.64, for a total transaction of $481,728.00. Following the completion of the transaction, the chief financial officer now owns 106,739 shares of the company’s stock, valued at $9,888,300.96. The disclosure for this sale can be found here. Insiders sold a total of 56,900 shares of company stock worth $5,464,852 in the last ninety days. Corporate insiders own 2.18% of the company’s stock.
A number of research analysts have commented on the stock. Nomura reduced their price objective on shares of Electronic Arts from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. KeyCorp started coverage on shares of Electronic Arts in a research report on Monday, July 29th. They issued a “sector weight” rating on the stock. Sanford C. Bernstein set a $121.00 price target on shares of Electronic Arts and gave the stock a “buy” rating in a research report on Wednesday, July 31st. UBS Group reduced their price target on shares of Electronic Arts from $120.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Atlantic Securities upgraded shares of Electronic Arts from a “neutral” rating to an “overweight” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have given a buy rating to the stock. Electronic Arts currently has a consensus rating of “Buy” and an average price target of $108.77.
Shares of EA stock traded up $1.04 during trading hours on Friday, reaching $98.27. The stock had a trading volume of 2,306,600 shares, compared to its average volume of 4,755,931. The firm has a 50-day simple moving average of $96.10 and a 200-day simple moving average of $94.96. The firm has a market capitalization of $28.96 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 3.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.32 and a quick ratio of 3.52. Electronic Arts Inc. has a twelve month low of $73.91 and a twelve month high of $108.80.
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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