Aviva PLC cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,568 shares of the game software company’s stock after selling 1,426 shares during the period. Aviva PLC’s holdings in Electronic Arts were worth $10,074,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Hennessy Advisors Inc. acquired a new position in shares of Electronic Arts in the 1st quarter valued at $2,413,000. MUFG Securities EMEA plc increased its holdings in Electronic Arts by 128.1% in the fourth quarter. MUFG Securities EMEA plc now owns 188,364 shares of the game software company’s stock valued at $20,251,000 after purchasing an additional 105,800 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Electronic Arts by 43.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,172,666 shares of the game software company’s stock valued at $341,093,000 after buying an additional 953,739 shares during the period. 1832 Asset Management L.P. bought a new position in Electronic Arts during the fourth quarter worth about $26,722,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Electronic Arts during the 1st quarter worth about $217,000. 87.98% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:EA traded down $1.68 during midday trading on Thursday, hitting $123.13. The stock had a trading volume of 1,893,141 shares, compared to its average volume of 3,531,488. The company has a market cap of $36.03 billion, a P/E ratio of 12.18, a PEG ratio of 4.20 and a beta of 0.91. Electronic Arts Inc. has a 12 month low of $85.69 and a 12 month high of $125.66. The business’s 50-day simple moving average is $117.47 and its 200-day simple moving average is $108.39. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.05.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, May 5th. The game software company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.36. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. Electronic Arts had a net margin of 54.88% and a return on equity of 16.79%. As a group, equities analysts predict that Electronic Arts Inc. will post 3.87 earnings per share for the current year.
Several research firms recently weighed in on EA. MKM Partners raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $120.00 to $114.00 in a research note on Tuesday, March 17th. Wells Fargo & Co began coverage on shares of Electronic Arts in a report on Sunday, April 19th. They issued an “equal weight” rating and a $120.00 price target for the company. Cowen upped their price objective on shares of Electronic Arts from $119.00 to $129.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Robert W. Baird lifted their target price on Electronic Arts from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Finally, Zacks Investment Research increased their price target on Electronic Arts to $120.00 in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $123.59.
In other news, CMO Chris Bruzzo sold 4,220 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $123.32, for a total value of $520,410.40. Following the transaction, the chief marketing officer now directly owns 30,457 shares of the company’s stock, valued at $3,755,957.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $116.59, for a total transaction of $93,272.00. The disclosure for this sale can be found here. Insiders have sold 219,152 shares of company stock valued at $25,054,952 in the last quarter. 2.18% of the stock is currently owned by corporate insiders.
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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