Treasurer of the State of North Carolina lessened its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 189,065 shares of the game software company’s stock after selling 750 shares during the period. Treasurer of the State of North Carolina’s holdings in Electronic Arts were worth $19,145,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WT Asset Management Ltd acquired a new position in Electronic Arts during the 1st quarter worth approximately $19,529,000. Canada Pension Plan Investment Board grew its holdings in Electronic Arts by 23.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 366,573 shares of the game software company’s stock worth $37,119,000 after acquiring an additional 69,257 shares in the last quarter. Greenwood Capital Associates LLC grew its holdings in Electronic Arts by 99.2% during the 2nd quarter. Greenwood Capital Associates LLC now owns 67,982 shares of the game software company’s stock worth $6,884,000 after acquiring an additional 33,860 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Electronic Arts during the 2nd quarter worth approximately $598,000. Finally, Coastline Trust Co grew its holdings in Electronic Arts by 1.4% during the 2nd quarter. Coastline Trust Co now owns 15,430 shares of the game software company’s stock worth $1,562,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.
Several brokerages have recently issued reports on EA. Wedbush restated an “outperform” rating and issued a $112.00 target price on shares of Electronic Arts in a report on Wednesday, September 4th. Citigroup began coverage on shares of Electronic Arts in a report on Friday, June 7th. They issued a “neutral” rating and a $102.00 target price for the company. Bank of America upped their target price on shares of Electronic Arts from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. BMO Capital Markets reiterated an “outperform” rating and set a $130.00 price target (up previously from $116.00) on shares of Electronic Arts in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group set a $100.00 target price on shares of Electronic Arts and gave the company a “hold” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $110.64.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, July 30th. The game software company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.10). Electronic Arts had a net margin of 42.75% and a return on equity of 19.63%. The business had revenue of $743.00 million during the quarter, compared to analysts’ expectations of $724.55 million. As a group, equities analysts forecast that Electronic Arts Inc. will post 3.74 EPS for the current fiscal year.
In other Electronic Arts news, insider Vijayanthimala Singh sold 500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $92.73, for a total transaction of $46,365.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Luis A. Ubinas sold 3,389 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.23, for a total transaction of $302,400.47. Following the transaction, the director now owns 306 shares of the company’s stock, valued at approximately $27,304.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,774 shares of company stock valued at $5,604,096. 2.18% of the stock is owned by insiders.
Electronic Arts Company 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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