IBM Retirement Fund increased its position in Electronic Arts Inc. (NASDAQ:EA) by 126.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,336 shares of the game software company’s stock after buying an additional 4,094 shares during the period. IBM Retirement Fund’s holdings in Electronic Arts were worth $867,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in EA. BlackRock Inc. boosted its position in shares of Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock valued at $1,858,837,000 after buying an additional 20,174,721 shares in the last quarter. Winslow Capital Management LLC increased its position in Electronic Arts by 1,869,551.3% in the first quarter. Winslow Capital Management LLC now owns 2,879,263 shares of the game software company’s stock valued at $257,751,000 after buying an additional 2,879,109 shares during the period. Vanguard Group Inc. increased its position in Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after buying an additional 2,394,314 shares during the period. Ameriprise Financial Inc. increased its position in Electronic Arts by 24.8% in the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock valued at $845,359,000 after buying an additional 1,877,351 shares during the period. Finally, AQR Capital Management LLC increased its position in Electronic Arts by 174.5% in the first quarter. AQR Capital Management LLC now owns 2,180,565 shares of the game software company’s stock valued at $195,204,000 after buying an additional 1,386,296 shares during the period. 97.31% of the stock is currently owned by institutional investors.
Shares of Electronic Arts Inc. (NASDAQ:EA) opened at 116.88 on Friday. The firm has a 50-day moving average of $113.30 and a 200 day moving average of $100.72. Electronic Arts Inc. has a one year low of $73.74 and a one year high of $120.25. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 31.29 and a beta of 0.72.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.22. The business had revenue of $775 million for the quarter, compared to analysts’ expectations of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 EPS. Equities research analysts anticipate that Electronic Arts Inc. will post $4.24 EPS for the current year.
Electronic Arts declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 9th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the game software company to purchase up to 45% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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Several analysts recently commented on EA shares. UBS AG restated a “buy” rating and set a $112.00 price target (up from $96.00) on shares of Electronic Arts in a report on Thursday, May 11th. Wedbush restated a “buy” rating on shares of Electronic Arts in a report on Friday, July 28th. Piper Jaffray Companies decreased their price target on shares of Electronic Arts from $119.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, May 10th. KeyCorp restated a “buy” rating on shares of Electronic Arts in a report on Sunday, July 30th. Finally, Zacks Investment Research upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Electronic Arts presently has an average rating of “Buy” and an average price target of $115.19.
In other Electronic Arts news, Director Lawrence F. Probst III sold 68,072 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $118.83, for a total value of $8,088,995.76. Following the transaction, the director now directly owns 176,348 shares in the company, valued at approximately $20,955,432.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denise Warren sold 1,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $108.84, for a total value of $108,840.00. Following the completion of the transaction, the director now owns 13,665 shares in the company, valued at $1,487,298.60. The disclosure for this sale can be found here. Insiders have sold a total of 337,624 shares of company stock worth $38,078,825 in the last three months. 2.55% of the stock is currently owned by insiders.
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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