New York Life Investment Management LLC Sells 20,875 Shares of Electronic Arts Inc. (NASDAQ:EA)

New York Life Investment Management LLC decreased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 34.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 39,084 shares of the game software company’s stock after selling 20,875 shares during the quarter. New York Life Investment Management LLC’s holdings in Electronic Arts were worth $5,347,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV increased its holdings in shares of Electronic Arts by 23.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 22,867 shares of the game software company’s stock worth $2,753,000 after purchasing an additional 4,411 shares during the last quarter. Value Partners Investments Inc. boosted its position in shares of Electronic Arts by 33.5% during the 4th quarter. Value Partners Investments Inc. now owns 429,536 shares of the game software company’s stock valued at $53,761,000 after acquiring an additional 107,709 shares during the last quarter. Metis Global Partners LLC increased its position in Electronic Arts by 14.7% in the third quarter. Metis Global Partners LLC now owns 11,473 shares of the game software company’s stock worth $1,381,000 after purchasing an additional 1,469 shares during the last quarter. Morgan Stanley lifted its position in Electronic Arts by 13.0% during the third quarter. Morgan Stanley now owns 3,389,395 shares of the game software company’s stock valued at $408,084,000 after purchasing an additional 389,063 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Electronic Arts by 16.3% in the 3rd quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company’s stock worth $3,086,621,000 after buying an additional 3,600,388 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity

In other news, insider Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $143.24, for a total value of $143,240.00. Following the transaction, the insider now directly owns 20,258 shares in the company, valued at approximately $2,901,755.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $139.08, for a total transaction of $111,264.00. Following the transaction, the insider now directly owns 27,883 shares in the company, valued at approximately $3,877,967.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $143.24, for a total value of $143,240.00. Following the transaction, the insider now directly owns 20,258 shares in the company, valued at $2,901,755.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,144 shares of company stock worth $5,087,143. Corporate insiders own 0.20% of the company’s stock.

Electronic Arts Stock Performance

EA stock opened at $129.56 on Friday. Electronic Arts Inc. has a 1-year low of $117.47 and a 1-year high of $144.53. The business has a 50-day moving average price of $131.99 and a 200 day moving average price of $134.43. The company has a market capitalization of $34.64 billion, a P/E ratio of 32.63, a PEG ratio of 1.72 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 1.33.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, January 30th. The game software company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.38). Electronic Arts had a net margin of 14.09% and a return on equity of 20.58%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the business posted $2.29 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Electronic Arts Inc. will post 5.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EA. Stifel Nicolaus boosted their price objective on Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. BMO Capital Markets started coverage on Electronic Arts in a research report on Tuesday, January 9th. They set an “outperform” rating and a $160.00 target price on the stock. Benchmark restated a “buy” rating and issued a $153.00 price target on shares of Electronic Arts in a research report on Thursday, April 18th. Wedbush reiterated an “outperform” rating and set a $162.00 price objective on shares of Electronic Arts in a research report on Thursday. Finally, Roth Mkm lowered their target price on shares of Electronic Arts from $140.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Electronic Arts currently has an average rating of “Moderate Buy” and an average target price of $146.72.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.