AQR Capital Management LLC decreased its position in Electronic Arts Inc. (NASDAQ:EA) by 36.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,555,872 shares of the game software company’s stock after selling 902,701 shares during the period. AQR Capital Management LLC owned about 0.51% of Electronic Arts worth $187,467,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of EA. Sun Life Financial INC lifted its stake in shares of Electronic Arts by 389.4% in the 2nd quarter. Sun Life Financial INC now owns 832 shares of the game software company’s stock valued at $117,000 after purchasing an additional 662 shares during the period. CI Investments Inc. bought a new position in Electronic Arts during the 3rd quarter worth about $120,000. Massey Quick Simon & CO. LLC increased its holdings in Electronic Arts by 165.4% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,083 shares of the game software company’s stock worth $130,000 after purchasing an additional 675 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Electronic Arts during the 3rd quarter worth about $134,000. Finally, Bray Capital Advisors bought a new position in Electronic Arts during the 3rd quarter worth about $157,000. 94.78% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Blake J. Jorgensen sold 10,500 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $92.79, for a total transaction of $974,295.00. Following the completion of the transaction, the chief financial officer now directly owns 104,391 shares of the company’s stock, valued at approximately $9,686,440.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura Miele sold 1,250 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $79.51, for a total transaction of $99,387.50. Following the transaction, the insider now directly owns 8,461 shares of the company’s stock, valued at $672,734.11. The disclosure for this sale can be found here. Insiders sold a total of 51,700 shares of company stock worth $4,525,011 in the last 90 days. 2.24% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on EA. Stephens began coverage on Electronic Arts in a report on Thursday. They issued an “overweight” rating and a $125.00 price objective for the company. SunTrust Banks set a $105.00 price objective on Electronic Arts and gave the company a “buy” rating in a report on Tuesday. BidaskClub upgraded Electronic Arts from a “sell” rating to a “hold” rating in a report on Monday. Wedbush reiterated an “overweight” rating and set a $133.00 price target on shares of Electronic Arts in a report on Friday, December 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target (down previously from $150.00) on shares of Electronic Arts in a report on Friday, December 14th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $131.36.
EA stock traded down $0.31 during midday trading on Friday, hitting $90.70. The stock had a trading volume of 3,757,000 shares, compared to its average volume of 4,992,362. Electronic Arts Inc. has a 1-year low of $73.91 and a 1-year high of $151.26. The firm has a market cap of $26.86 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.53 and a beta of 1.00. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.19.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, October 30th. The game software company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.46. Electronic Arts had a net margin of 18.76% and a return on equity of 26.01%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts expect that Electronic Arts Inc. will post 3.87 earnings per share for the current year.
Electronic Arts Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.
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