MML Investors Services LLC boosted its stake in Electronic Arts Inc. (NASDAQ:EA) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,576 shares of the game software company’s stock after purchasing an additional 415 shares during the period. MML Investors Services LLC’s holdings in Electronic Arts were worth $1,216,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. AXA increased its position in Electronic Arts by 2.9% in the 4th quarter. AXA now owns 310,044 shares of the game software company’s stock valued at $32,574,000 after acquiring an additional 8,688 shares during the period. Lombard Odier Asset Management USA Corp purchased a new stake in Electronic Arts in the 4th quarter valued at approximately $18,386,000. Landscape Capital Management L.L.C. purchased a new stake in Electronic Arts in the 4th quarter valued at approximately $592,000. WINTON GROUP Ltd boosted its holdings in Electronic Arts by 16.2% in the 4th quarter. WINTON GROUP Ltd now owns 173,995 shares of the game software company’s stock valued at $18,280,000 after purchasing an additional 24,207 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Electronic Arts by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 3,249,844 shares of the game software company’s stock valued at $340,709,000 after purchasing an additional 102,739 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.
EA has been the topic of a number of analyst reports. Goldman Sachs Group lowered Electronic Arts from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, December 12th. BMO Capital Markets raised Electronic Arts from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $112.39 to $97.00 in a report on Monday, January 8th. They noted that the move was a valuation call. Vetr raised Electronic Arts from a “sell” rating to a “hold” rating and set a $124.90 price objective on the stock in a report on Thursday, March 1st. ValuEngine lowered Electronic Arts from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $134.00 price objective on shares of Electronic Arts in a report on Sunday, November 19th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Electronic Arts has an average rating of “Buy” and a consensus price target of $132.81.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, January 30th. The game software company reported $2.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.03. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $2.02 billion. Electronic Arts had a return on equity of 25.42% and a net margin of 19.67%. equities research analysts anticipate that Electronic Arts Inc. will post 3.66 earnings per share for the current fiscal year.
In other news, CEO Andrew Wilson sold 9,000 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $122.94, for a total transaction of $1,106,460.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake J. Jorgensen sold 10,500 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $112.85, for a total value of $1,184,925.00. Following the sale, the chief financial officer now owns 159,114 shares of the company’s stock, valued at $17,956,014.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,279 shares of company stock valued at $9,809,588. Insiders own 2.55% of the company’s stock.
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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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