Concert Wealth Management Inc. reduced its stake in Electronic Arts Inc. (NASDAQ:EA) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,833 shares of the game software company’s stock after selling 124 shares during the period. Concert Wealth Management Inc.’s holdings in Electronic Arts were worth $444,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA bought a new position in shares of Electronic Arts during the second quarter worth about $264,000. Checchi Capital Advisers LLC boosted 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 last quarter. Acadian Asset Management LLC boosted its position in shares of Electronic Arts by 35.9% in the second quarter. Acadian Asset Management LLC now owns 3,772 shares of the game software company’s stock worth $285,000 after buying an additional 996 shares during the last quarter. BKD Wealth Advisors LLC boosted its position 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 worth $293,000 after buying an additional 564 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Electronic Arts by 7.2% in the second quarter. Advisory Services Network LLC now owns 4,788 shares of the game software company’s stock worth $363,000 after buying an additional 322 shares during the last quarter.
Shares of Electronic Arts Inc. (NASDAQ:EA) traded down 0.51% during midday trading on Thursday, hitting $82.11. The stock had a trading volume of 1,334,133 shares. Electronic Arts Inc. has a 52 week low of $53.01 and a 52 week high of $86.07. The company’s 50 day moving average is $83.08 and its 200 day moving average is $75.45. The firm has a market cap of $24.70 billion, a P/E ratio of 23.13 and a beta of 0.63.
Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, August 2nd. The game software company reported $0.07 EPS for the quarter, topping the 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 business earned $682 million during the quarter, compared to analysts’ expectations of $652.64 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. On average, equities analysts predict that Electronic Arts Inc. will post $3.64 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the company. Vetr raised Electronic Arts from a “hold” rating to a “buy” rating and set a $90.20 price target for the company in a report on Monday, September 26th. Zacks Investment Research cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Morgan Stanley assumed coverage on Electronic Arts in a report on Friday, September 23rd. They issued an “overweight” rating and a $101.00 price target for the company. Stifel Nicolaus lifted their price target on Electronic Arts from $83.00 to $87.00 and gave the company a “buy” rating in a report on Monday, September 12th. Finally, Macquarie reiterated an “outperform” rating and issued a $80.00 price objective on shares of Electronic Arts in a research report on Friday, July 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Electronic Arts currently has a consensus rating of “Buy” and a consensus price target of $88.49.
In other Electronic Arts news, EVP Joel Linzner sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $85.34, for a total value of $682,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blake J. Jorgensen sold 10,100 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $76.44, for a total value of $772,044.00. Following the completion of the sale, the chief financial officer now directly owns 109,700 shares of the company’s stock, valued at approximately $8,385,468. The disclosure for this sale can be found here. Corporate insiders own 3.46% of the company’s stock.
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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