Stifel Financial Corp grew its holdings in Electronic Arts Inc. (NASDAQ:EA) by 24.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,547 shares of the game software company’s stock after purchasing an additional 9,017 shares during the period. Stifel Financial Corp’s holdings in Electronic Arts were worth $4,929,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Allen Investment Management LLC acquired a new position in shares of Electronic Arts in the 2nd quarter valued at $905,000. TimesSquare Capital Management LLC lifted its stake in shares of Electronic Arts by 0.5% in the 1st quarter. TimesSquare Capital Management LLC now owns 767,500 shares of the game software company’s stock valued at $68,707,000 after purchasing an additional 3,600 shares during the last quarter. Delta Lloyd Asset Management N.V. acquired a new position in shares of Electronic Arts in the 2nd quarter valued at $3,019,000. Swiss National Bank lifted its stake in shares of Electronic Arts by 5.3% in the 2nd quarter. Swiss National Bank now owns 1,125,555 shares of the game software company’s stock valued at $118,994,000 after purchasing an additional 56,300 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in shares of Electronic Arts by 529.3% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 50,647 shares of the game software company’s stock valued at $5,354,000 after purchasing an additional 42,599 shares during the last quarter. 93.84% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Blake J. Jorgensen sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $111.01, for a total value of $1,110,100.00. Following the completion of the sale, the chief financial officer now directly owns 219,614 shares of the company’s stock, valued at $24,379,350.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lawrence F. Probst III sold 68,072 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $118.83, for a total value of $8,088,995.76. Following the completion of the sale, the director now directly owns 176,348 shares of the company’s stock, valued at $20,955,432.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 207,096 shares of company stock worth $24,570,436. Corporate insiders own 2.55% of the company’s stock.
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Several research firms recently issued reports on EA. Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Electronic Arts in a report on Thursday, August 31st. BidaskClub upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Benchmark Co. boosted their price objective on Electronic Arts from $136.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. Buckingham Research began coverage on Electronic Arts in a report on Wednesday, September 20th. They issued a “buy” rating and a $143.00 price objective on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $127.00 price objective on shares of Electronic Arts in a report on Friday. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $120.93.
Shares of Electronic Arts Inc. (NASDAQ:EA) opened at 120.09 on Friday. The company has a 50 day moving average price of $118.53 and a 200-day moving average price of $108.45. Electronic Arts Inc. has a 12 month low of $73.74 and a 12 month high of $122.79. The firm has a market capitalization of $37.08 billion, a PE ratio of 32.15 and a beta of 0.69.
Electronic Arts (NASDAQ:EA) last announced its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.22. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The business had revenue of $775.00 million for the quarter, compared to analyst estimates of $768.47 million. During the same period in the previous year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts expect that Electronic Arts Inc. will post $4.25 EPS for the current fiscal year.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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