New England Research & Management Inc. reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,225 shares of the game software company’s stock after selling 150 shares during the period. New England Research & Management Inc.’s holdings in Electronic Arts were worth $1,039,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in EA. Norges Bank bought a new position in shares of Electronic Arts during the 4th quarter worth approximately $243,373,000. Oregon Public Employees Retirement Fund grew its stake in shares of Electronic Arts by 7,694.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,624,704 shares of the game software company’s stock valued at $33,000 after buying an additional 2,591,032 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Electronic Arts by 13,042.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,476,342 shares of the game software company’s stock valued at $195,408,000 after buying an additional 2,457,500 shares in the last quarter. Massachusetts Financial Services Co. MA grew 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 valued at $919,303,000 after buying an additional 1,952,780 shares in the last quarter. Finally, CI Investments Inc. grew its stake in shares of Electronic Arts by 177,205.0% in the fourth quarter. CI Investments Inc. now owns 1,773,050 shares of the game software company’s stock valued at $139,911,000 after buying an additional 1,772,050 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Several research firms recently weighed in on EA. BidaskClub cut shares of Electronic Arts from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. SunTrust Banks set a $107.00 price objective on shares of Electronic Arts and gave the stock a “buy” rating in a research report on Monday, April 8th. Robert W. Baird dropped their target price on Electronic Arts from $154.00 to $90.00 in a report on Wednesday, February 6th. MKM Partners dropped their target price on Electronic Arts to $112.00 and set a “buy” rating for the company in a report on Wednesday, January 30th. Finally, Wedbush dropped their target price on Electronic Arts from $111.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $112.04.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, February 5th. The game software company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.12. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.75 billion. Electronic Arts had a return on equity of 23.21% and a net margin of 26.77%. The business’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.60) EPS. Equities analysts expect that Electronic Arts Inc. will post 3.18 EPS for the current year.
In related news, insider Chris Bruzzo sold 3,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $103.00, for a total transaction of $309,000.00. Following the sale, the insider now owns 35,271 shares of the company’s stock, valued at approximately $3,632,913. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jacob J. Schatz sold 1,000 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $102.38, for a total value of $102,380.00. The disclosure for this sale can be found here. Insiders have sold a total of 82,500 shares of company stock valued at $8,266,003 in the last quarter. 2.24% of the stock is owned by corporate insiders.
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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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