State of New Jersey Common Pension Fund D held its stake in Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 133,099 shares of the game software company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Electronic Arts were worth $14,071,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its stake in Electronic Arts by 17.3% in the first quarter. Nationwide Fund Advisors now owns 722,054 shares of the game software company’s stock valued at $64,638,000 after buying an additional 106,683 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Electronic Arts by 1.2% in the first quarter. Retirement Systems of Alabama now owns 149,010 shares of the game software company’s stock worth $13,339,000 after buying an additional 1,801 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Electronic Arts during the first quarter worth about $332,000. Boston Advisors LLC boosted its position in shares of Electronic Arts by 8.0% in the first quarter. Boston Advisors LLC now owns 281,169 shares of the game software company’s stock worth $25,170,000 after buying an additional 20,900 shares during the last quarter. Finally, Coastline Trust Co boosted its position in shares of Electronic Arts by 22.5% in the first quarter. Coastline Trust Co now owns 19,315 shares of the game software company’s stock worth $1,729,000 after buying an additional 3,545 shares during the last quarter. Institutional investors own 97.31% of the company’s stock.
Shares of Electronic Arts Inc. (NASDAQ EA) traded up 0.35% on Friday, reaching $116.88. The company 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’s 50 day moving average price is $113.30 and its 200-day moving average price is $100.72. The stock has a market capitalization of $36.08 billion, a P/E ratio of 31.29 and a beta of 0.72.
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, beating analysts’ consensus estimates of $0.14 by $0.22. The company had revenue of $775 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 earnings per share. Equities analysts predict that Electronic Arts Inc. will post $4.24 EPS for the current year.
Electronic Arts declared that its Board of Directors has approved a share repurchase program on Tuesday, May 9th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the game software company to buy up to 45% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
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A number of research analysts have issued reports on the company. Pacific Crest reiterated an “overweight” rating and set a $112.00 price objective on shares of Electronic Arts in a research note on Wednesday, April 26th. BidaskClub cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. KeyCorp restated a “buy” rating on shares of Electronic Arts in a research note on Sunday, July 30th. Piper Jaffray Companies decreased their price target on Electronic Arts from $119.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, May 10th. Finally, Bank of America Corporation restated a “neutral” rating and issued a $104.00 price target on shares of Electronic Arts in a research note on Monday, May 8th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Electronic Arts presently has a consensus rating of “Buy” and a consensus target price of $115.19.
In other news, Director Lawrence F. Probst III sold 68,072 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $118.83, for a total transaction of $8,088,995.76. Following the sale, the director now owns 176,348 shares of the company’s stock, valued at $20,955,432.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 10,965 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $108.00, for a total value of $1,184,220.00. The disclosure for this sale can be found here. In the last three months, insiders sold 337,624 shares of company stock worth $38,078,825. 2.55% of the stock is owned by corporate 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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