Electronic Arts Inc. (EA) Position Raised by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.5% during the first quarter, Holdings Channel reports. The institutional investor owned 767,500 shares of the game software company’s stock after buying an additional 3,600 shares during the period. TimesSquare Capital Management LLC’s holdings in Electronic Arts were worth $68,707,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Bessemer Group Inc. increased its stake in shares of Electronic Arts by 3,410.0% in the fourth quarter. Bessemer Group Inc. now owns 1,404 shares of the game software company’s stock worth $111,000 after buying an additional 1,364 shares in the last quarter. Commerce Bank acquired a new stake in shares of Electronic Arts during the first quarter worth $203,000. Intrust Bank NA acquired a new stake in shares of Electronic Arts during the first quarter worth $204,000. IFC Holdings Incorporated FL acquired a new stake in shares of Electronic Arts during the first quarter worth $217,000. Finally, UMB Bank N A MO acquired a new stake in shares of Electronic Arts during the first quarter worth $226,000. 98.32% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

Electronic Arts Inc. (NASDAQ:EA) traded up 0.27% during trading on Tuesday, reaching $113.96. The company’s stock had a trading volume of 1,247,304 shares. The firm has a market cap of $35.33 billion, a PE ratio of 37.00 and a beta of 0.59. Electronic Arts Inc. has a one year low of $71.01 and a one year high of $116.04. The company has a 50-day moving average of $107.89 and a 200 day moving average of $90.91.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, May 9th. The game software company reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. Electronic Arts had a net margin of 19.96% and a return on equity of 27.60%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $0.50 EPS. Electronic Arts’s revenue for the quarter was up 16.7% on a year-over-year basis. Analysts expect that Electronic Arts Inc. will post $4.23 EPS for the current fiscal year.

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A number of brokerages have weighed in on EA. William Blair began coverage on Electronic Arts in a report on Wednesday, March 1st. They issued an “outperform” rating and a $88.28 target price on the stock. Pacific Crest reaffirmed an “overweight” rating and issued a $112.00 target price on shares of Electronic Arts in a report on Wednesday, April 26th. Piper Jaffray Companies cut their price objective on Electronic Arts from $119.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, May 10th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $94.00 price objective on shares of Electronic Arts in a report on Thursday, April 20th. Finally, Bank of America Corporation reissued a “neutral” rating and set a $104.00 price objective on shares of Electronic Arts in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $104.73.

In other Electronic Arts news, CFO Blake J. Jorgensen sold 12,130 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $88.79, for a total transaction of $1,077,022.70. Following the completion of the transaction, the chief financial officer now owns 212,623 shares of the company’s stock, valued at $18,878,796.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 108,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $94.99, for a total transaction of $10,258,920.00. Following the transaction, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at approximately $9,499,000. The disclosure for this sale can be found here. Insiders have sold 450,628 shares of company stock valued at $47,030,293 in the last ninety days. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:EA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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