First National Trust Co. lowered its position in Electronic Arts Inc. (NASDAQ:EA) by 40.4% during the second quarter, Holdings Channel reports. The firm owned 2,783 shares of the game software company’s stock after selling 1,888 shares during the period. First National Trust Co.’s holdings in Electronic Arts were worth $211,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Checchi Capital Advisers LLC raised its position in shares of Electronic Arts by 2.1% in the second quarter. Checchi Capital Advisers LLC now owns 3,562 shares of the game software company’s stock worth $270,000 after buying an additional 74 shares during the period. Bank of Stockton increased its stake in shares of Electronic Arts by 1.6% in the second quarter. Bank of Stockton now owns 13,875 shares of the game software company’s stock valued at $1,052,000 after buying an additional 225 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Electronic Arts by 1.3% in the second quarter. Capstone Asset Management Co. now owns 20,499 shares of the game software company’s stock valued at $1,553,000 after buying an additional 270 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Electronic Arts by 0.6% in the first quarter. Arizona State Retirement System now owns 83,873 shares of the game software company’s stock valued at $5,545,000 after buying an additional 500 shares in the last quarter. Finally, BKD Wealth Advisors LLC increased its stake in shares of Electronic Arts by 17.1% in the second quarter. BKD Wealth Advisors LLC now owns 3,869 shares of the game software company’s stock valued at $293,000 after buying an additional 564 shares in the last quarter.
Electronic Arts Inc. (NASDAQ:EA) traded down 0.91% during mid-day trading on Friday, reaching $83.81. The company had a trading volume of 3,076,877 shares. The stock’s 50-day moving average is $82.93 and its 200 day moving average is $75.04. The firm has a market capitalization of $25.21 billion, a P/E ratio of 23.61 and a beta of 0.63. Electronic Arts Inc. has a 12 month low of $53.01 and a 12 month high of $86.07.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, August 2nd. The game software company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. Electronic Arts had a return on equity of 24.97% and a net margin of 25.85%. The company earned $682 million during the quarter, compared to analysts’ expectations of $652.64 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts predict that Electronic Arts Inc. will post $3.64 earnings per share for the current fiscal year.
EA has been the subject of several recent research reports. Vetr downgraded Electronic Arts from a “buy” rating to a “hold” rating and set a $80.46 price target for the company. in a report on Monday, July 11th. Morgan Stanley initiated coverage on Electronic Arts in a report on Friday, September 23rd. They set an “overweight” rating and a $101.00 price target for the company. BMO Capital Markets reaffirmed a “hold” rating on shares of Electronic Arts in a report on Thursday, June 16th. Argus reaffirmed a “hold” rating on shares of Electronic Arts in a report on Sunday, August 21st. Finally, Benchmark Co. reaffirmed a “hold” rating and set a $98.00 price target on shares of Electronic Arts in a report on Thursday, September 22nd. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $88.59.
In other news, CEO Andrew Wilson sold 50,000 shares of the stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $85.03, for a total value of $4,251,500.00. Following the completion of the transaction, the chief executive officer now owns 290,581 shares of the company’s stock, valued at $24,708,102.43. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joel Linzner sold 8,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $85.34, for a total value of $682,720.00. The disclosure for this sale can be found here. 3.46% of the stock is owned by 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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