Electronic Arts Inc. (EA) Stake Decreased by Pioneer Investment Management Inc.

Pioneer Investment Management Inc. decreased its stake in Electronic Arts Inc. (NASDAQ:EA) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,875 shares of the game software company’s stock after selling 743 shares during the period. Pioneer Investment Management Inc.’s holdings in Electronic Arts were worth $20,179,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. raised its position in shares of Electronic Arts by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,048 shares of the game software company’s stock worth $674,000 after buying an additional 322 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Electronic Arts by 17.3% in the first quarter. Nationwide Fund Advisors now owns 722,054 shares of the game software company’s stock worth $64,638,000 after buying an additional 106,683 shares during the last quarter. Retirement Systems of Alabama raised 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. Finally, Boston Advisors LLC raised 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. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Electronic Arts Inc. (NASDAQ:EA) opened at 113.99 on Friday. The firm’s 50-day moving average is $112.06 and its 200-day moving average is $99.21. Electronic Arts Inc. has a 52-week low of $73.74 and a 52-week high of $120.25. The firm has a market capitalization of $35.22 billion, a PE ratio of 30.52 and a beta of 0.72.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The firm had revenue of $775 million for the quarter, compared to analyst estimates of $768.47 million. During the same period last year, the firm posted $0.07 EPS. Electronic Arts’s quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current year.

Electronic Arts announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 9th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the game software company to purchase up to 45% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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A number of brokerages have issued reports on EA. Zacks Investment Research lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Robert W. Baird restated an “outperform” rating and set a $130.00 price target (up previously from $115.00) on shares of Electronic Arts in a research note on Sunday, July 30th. Benchmark Co. restated a “buy” rating and set a $136.00 price target (up previously from $131.00) on shares of Electronic Arts in a research note on Sunday, July 30th. KeyCorp restated a “buy” rating on shares of Electronic Arts in a research note on Sunday, July 30th. Finally, Cowen and Company restated a “market perform” rating and set a $106.00 price target (up previously from $90.00) on shares of Electronic Arts in a research note on Sunday, July 30th. Five 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. Electronic Arts presently has an average rating of “Buy” and an average price target of $115.19.

In other Electronic Arts news, SVP Jacob J. Schatz sold 2,200 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $107.22, for a total transaction of $235,884.00. Following the sale, the senior vice president now directly owns 22,935 shares in the company, valued at approximately $2,459,090.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth A. Barker sold 26,701 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $109.00, for a total transaction of $2,910,409.00. Following the sale, the senior vice president now owns 39,406 shares in the company, valued at $4,295,254. The disclosure for this sale can be found here. Over the last quarter, insiders sold 336,915 shares of company stock worth $37,032,377. 2.55% of the stock is currently owned by 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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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