Oppenheimer & Co. Inc. boosted its position in Electronic Arts Inc. (NASDAQ:EA) by 281.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,153 shares of the game software company’s stock after purchasing an additional 14,126 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Electronic Arts were worth $1,947,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its stake in shares of Electronic Arts by 20.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,650,029 shares of the game software company’s stock worth $919,303,000 after buying an additional 1,952,780 shares during the last quarter. Brown Advisory Inc. raised its stake in Electronic Arts by 15.4% during the 4th quarter. Brown Advisory Inc. now owns 4,230,653 shares of the game software company’s stock valued at $333,840,000 after purchasing an additional 564,592 shares during the last quarter. Geode Capital Management LLC raised its stake in Electronic Arts by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 3,613,795 shares of the game software company’s stock valued at $284,619,000 after purchasing an additional 164,030 shares during the last quarter. Northern Trust Corp raised its stake in Electronic Arts by 7.7% during the 4th quarter. Northern Trust Corp now owns 3,588,533 shares of the game software company’s stock valued at $283,172,000 after purchasing an additional 256,711 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in Electronic Arts by 39.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,577,578 shares of the game software company’s stock valued at $282,307,000 after purchasing an additional 1,016,222 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.
Electronic Arts stock traded down $1.81 during midday trading on Wednesday, reaching $93.84. The company’s stock had a trading volume of 1,656,363 shares, compared to its average volume of 6,477,043. The stock has a market cap of $28.43 billion, a PE ratio of 23.88, a P/E/G ratio of 1.56 and a beta of 1.12. The company has a quick ratio of 2.99, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. Electronic Arts Inc. has a 52 week low of $73.91 and a 52 week high of $151.26.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, May 7th. The game software company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.43. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Electronic Arts had a return on equity of 22.62% and a net margin of 20.59%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 earnings per share. As a group, analysts expect that Electronic Arts Inc. will post 3.79 earnings per share for the current year.
Several equities research analysts have issued reports on EA shares. Robert W. Baird lowered their price target on shares of Electronic Arts from $154.00 to $90.00 in a report on Wednesday, February 6th. MKM Partners lowered their target price on shares of Electronic Arts to $112.00 and set a “buy” rating on the stock in a report on Wednesday, January 30th. Wedbush reaffirmed a “buy” rating and issued a $111.00 target price (down previously from $133.00) on shares of Electronic Arts in a report on Wednesday, January 30th. Benchmark decreased their price objective on shares of Electronic Arts from $153.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, February 6th. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued a “buy” rating and set a $96.00 price objective on shares of Electronic Arts in a report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the stock. Electronic Arts has an average rating of “Buy” and a consensus price target of $111.32.
In other Electronic Arts news, CEO Andrew Wilson sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $96.57, for a total value of $869,130.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Laura Miele sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $96.56, for a total value of $120,700.00. Following the transaction, the insider now directly owns 5,758 shares in the company, valued at $555,992.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,900 shares of company stock worth $7,349,568. Insiders own 2.24% of the company’s stock.
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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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