First Midwest Bank Trust Division lowered its position in Electronic Arts Inc. (NASDAQ:EA) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,207 shares of the game software company’s stock after selling 100 shares during the period. First Midwest Bank Trust Division’s holdings in Electronic Arts were worth $550,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in EA. BlackRock Inc. raised its stake in shares of Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock worth $1,858,837,000 after buying an additional 20,174,721 shares during the last quarter. Winslow Capital Management LLC raised its stake in shares of Electronic Arts by 1,869,551.3% in the first quarter. Winslow Capital Management LLC now owns 2,879,263 shares of the game software company’s stock worth $257,751,000 after buying an additional 2,879,109 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock worth $2,652,637,000 after buying an additional 2,394,314 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Electronic Arts by 24.8% in the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock valued at $845,359,000 after buying an additional 1,877,351 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Electronic Arts by 174.5% in the first quarter. AQR Capital Management LLC now owns 2,180,565 shares of the game software company’s stock valued at $195,204,000 after buying an additional 1,386,296 shares in the last quarter. Institutional investors own 97.31% of the company’s stock.
Shares of Electronic Arts Inc. (NASDAQ EA) traded up 0.64% during trading on Friday, reaching $117.22. 928,700 shares of the company’s stock were exchanged. 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 $36.19 billion, a PE ratio of 31.38 and a beta of 0.72. The company’s 50-day moving average price is $113.01 and its 200 day moving average price is $100.49.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 EPS 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 company had revenue of $775 million during the quarter, compared to analyst estimates of $768.47 million. During the same period in the prior year, the firm earned $0.07 earnings per share. The business’s quarterly revenue was up 13.6% on a year-over-year basis. Analysts predict that Electronic Arts Inc. will post $4.24 EPS for the current fiscal year.
Electronic Arts announced that its board has initiated a share repurchase program on Tuesday, May 9th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the game software company to repurchase up to 45% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
EA has been the topic of several research analyst reports. Credit Suisse Group reiterated a “buy” rating and set a $114.00 price target on shares of Electronic Arts in a research note on Sunday, May 28th. Benchmark Co. lifted their price target on shares of Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Vetr upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price target on the stock in a research note on Monday, May 8th. Robert W. Baird reiterated an “outperform” rating on shares of Electronic Arts in a research note on Thursday, May 11th. Finally, Zacks Investment Research lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Electronic Arts has an average rating of “Buy” and a consensus target price of $115.19.
In other Electronic Arts news, CEO Andrew Wilson sold 100,000 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $111.31, for a total transaction of $11,131,000.00. Following the completion of the sale, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at $11,131,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joel Linzner sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $116.96, for a total transaction of $467,840.00. Following the completion of the sale, the executive vice president now directly owns 18,089 shares of the company’s stock, valued at $2,115,689.44. The disclosure for this sale can be found here. Insiders have sold 269,552 shares of company stock valued at $29,989,829 over the last ninety days. Insiders own 2.55% 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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