Oregon Public Employees Retirement Fund increased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,489 shares of the game software company’s stock after buying an additional 1,200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Electronic Arts were worth $3,435,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EA. Guardian Life Insurance Co. of America raised its position in Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock worth $107,000 after buying an additional 34 shares during the period. Invictus RG raised its position in Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after buying an additional 1,148 shares during the period. D. Scott Neal Inc. bought a new position in Electronic Arts during the second quarter worth about $120,000. Commerce Bank bought a new position in Electronic Arts during the first quarter worth about $203,000. Finally, Intrust Bank NA bought a new position in Electronic Arts during the first quarter worth about $204,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.
Shares of Electronic Arts Inc. (EA) traded up 0.35% during midday trading on Friday, reaching $116.88. The company’s stock had a trading volume of 1,912,014 shares. Electronic Arts Inc. has a 1-year low of $73.74 and a 1-year high of $120.25. The company has a market capitalization of $36.08 billion, a P/E ratio of 31.29 and a beta of 0.72. The stock has a 50 day moving average of $113.01 and a 200-day moving average of $100.49.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The company had revenue of $775 million for the quarter, compared to analyst estimates of $768.47 million. During the same quarter last year, the business earned $0.07 earnings per share. Electronic Arts’s revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current year.
Electronic Arts declared that its board has approved a share buyback plan on Tuesday, May 9th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the game software company to buy up to 45% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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EA has been the subject of a number of recent research reports. Mizuho set a $115.00 target price on Electronic Arts and gave the company a “buy” rating in a report on Wednesday, May 10th. Vetr raised Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price target for the company in a report on Monday, May 8th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $99.00 price target on shares of Electronic Arts in a report on Monday, May 1st. MKM Partners reaffirmed a “buy” rating and set a $109.00 price target (up from $95.00) on shares of Electronic Arts in a report on Friday, May 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $123.00 price target (up from $110.00) on shares of Electronic Arts in a report on Wednesday, May 10th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $115.19.
In related news, Director Jay C. Hoag sold 6,769 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $111.45, for a total transaction of $754,405.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 10,965 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $108.00, for a total transaction of $1,184,220.00. The disclosure for this sale can be found here. Insiders sold 337,624 shares of company stock worth $38,078,825 in the last 90 days. 2.55% of the stock is owned by company insiders.
Electronic Arts Company Profile
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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