Sandler Capital Management Sells 73,600 Shares of Electronic Arts Inc. (NASDAQ:EA)

Sandler Capital Management decreased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 93.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,150 shares of the game software company’s stock after selling 73,600 shares during the quarter. Sandler Capital Management’s holdings in Electronic Arts were worth $521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EA. Vanguard Group Inc. lifted its position in shares of Electronic Arts by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 22,247,309 shares of the game software company’s stock worth $2,252,762,000 after buying an additional 176,869 shares in the last quarter. FMR LLC lifted its position in shares of Electronic Arts by 10.8% during the 1st quarter. FMR LLC now owns 16,439,841 shares of the game software company’s stock worth $1,670,780,000 after buying an additional 1,598,653 shares in the last quarter. Invesco Ltd. lifted its position in shares of Electronic Arts by 15.7% during the 2nd quarter. Invesco Ltd. now owns 6,715,803 shares of the game software company’s stock worth $680,043,000 after buying an additional 913,279 shares in the last quarter. Northern Trust Corp lifted its position in shares of Electronic Arts by 2.9% during the 2nd quarter. Northern Trust Corp now owns 3,693,962 shares of the game software company’s stock worth $374,049,000 after buying an additional 102,799 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Electronic Arts by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 3,613,795 shares of the game software company’s stock worth $284,619,000 after buying an additional 164,030 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Chris Bruzzo sold 9,000 shares of Electronic Arts stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $101.38, for a total value of $912,420.00. Following the completion of the transaction, the insider now directly owns 45,771 shares in the company, valued at approximately $4,640,263.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura Miele sold 785 shares of Electronic Arts stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $93.25, for a total transaction of $73,201.25. Following the completion of the transaction, the insider now owns 13,077 shares of the company’s stock, valued at $1,219,430.25. The disclosure for this sale can be found here. Insiders sold a total of 95,074 shares of company stock valued at $9,331,897 over the last quarter. 2.18% of the stock is owned by company insiders.



EA has been the topic of several recent analyst reports. Jefferies Financial Group set a $100.00 target price on shares of Electronic Arts and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein set a $121.00 target price on shares of Electronic Arts and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Bank of America lifted their target price on shares of Electronic Arts from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TheStreet raised shares of Electronic Arts from a “c+” rating to a “b” rating in a research report on Tuesday, July 30th. Finally, Cowen raised shares of Electronic Arts from a “market perform” rating to an “outperform” rating and set a $104.00 target price on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the stock. Electronic Arts currently has an average rating of “Buy” and a consensus target price of $110.64.

Shares of NASDAQ:EA traded down $0.52 during mid-day trading on Wednesday, reaching $97.90. The company had a trading volume of 156,995 shares, compared to its average volume of 2,973,853. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.15. The firm has a market cap of $29.02 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.21 and a beta of 0.97. The company’s 50-day moving average price is $94.35 and its 200-day moving average price is $95.16. Electronic Arts Inc. has a one year low of $73.91 and a one year high of $121.30.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, July 30th. The game software company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). Electronic Arts had a return on equity of 19.63% and a net margin of 42.75%. The company had revenue of $743.00 million during the quarter, compared to the consensus estimate of $724.55 million. On average, research analysts anticipate that Electronic Arts Inc. will post 3.74 EPS for the current fiscal 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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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