Electronic Arts Inc. (EA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Electronic Arts Inc. (NASDAQ:EA) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 442,213 shares of the game software company’s stock after selling 9,207 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Electronic Arts worth $34,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baystate Wealth Management LLC increased its position in Electronic Arts by 373.1% during the fourth quarter. Baystate Wealth Management LLC now owns 317 shares of the game software company’s stock worth $29,000 after buying an additional 250 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Electronic Arts during the fourth quarter worth $28,000. Bremer Trust National Association acquired a new position in Electronic Arts during the fourth quarter worth $35,000. Whittier Trust Co. increased its position in Electronic Arts by 37.0% during the fourth quarter. Whittier Trust Co. now owns 529 shares of the game software company’s stock worth $42,000 after buying an additional 143 shares during the last quarter. Finally, IMS Capital Management acquired a new position in Electronic Arts during the third quarter worth $70,000. Institutional investors own 92.74% of the company’s stock.

In other Electronic Arts news, General Counsel Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $102.38, for a total transaction of $102,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Laura Miele sold 1,250 shares of Electronic Arts stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $79.51, for a total transaction of $99,387.50. Following the completion of the transaction, the insider now owns 8,461 shares of the company’s stock, valued at approximately $672,734.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,750 shares of company stock valued at $5,785,520. Corporate insiders own 2.24% of the company’s stock.

EA stock opened at $102.34 on Monday. Electronic Arts Inc. has a twelve month low of $73.91 and a twelve month high of $151.26. The stock has a market cap of $30.66 billion, a P/E ratio of 29.75, a PEG ratio of 1.98 and a beta of 1.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.99 and a current ratio of 2.99.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, February 5th. The game software company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.12. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Electronic Arts had a net margin of 26.77% and a return on equity of 23.21%. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.60) earnings per share. On average, sell-side analysts predict that Electronic Arts Inc. will post 3.14 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Electronic Arts from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Morgan Stanley raised their price target on Electronic Arts from $80.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 19th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $87.00 price target on shares of Electronic Arts in a research report on Wednesday, February 6th. SunTrust Banks raised their price target on Electronic Arts to $107.00 and gave the company a “buy” rating in a research report on Friday, March 8th. Finally, BidaskClub raised Electronic Arts from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $112.00.

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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.

Further Reading: Discount Rate

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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