Delta Capital Management LLC reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 7.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,285 shares of the game software company’s stock after selling 180 shares during the quarter. Delta Capital Management LLC’s holdings in Electronic Arts were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Valeo Financial Advisors LLC purchased a new position in shares of Electronic Arts in the 2nd quarter worth $28,000. North Star Investment Management Corp. purchased a new position in Electronic Arts during the third quarter valued at $28,000. Transamerica Financial Advisors Inc. purchased a new position in Electronic Arts during the second quarter valued at $40,000. Weaver Consulting Group purchased a new position in Electronic Arts during the first quarter valued at $43,000. Finally, Griffin Asset Management Inc. purchased a new position in Electronic Arts during the second quarter valued at $43,000. 92.42% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:EA traded up $2.37 during mid-day trading on Friday, reaching $94.90. The stock had a trading volume of 145,650 shares, compared to its average volume of 2,665,180. 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 company has a market cap of $27.27 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 4.29 and a beta of 0.95. Electronic Arts Inc. has a 1 year low of $73.91 and a 1 year high of $109.36. The business’s 50 day moving average price is $96.28 and its 200 day moving average price is $94.40.
In related news, CMO Chris Bruzzo sold 6,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $100.00, for a total value of $600,000.00. Following the completion of the transaction, the chief marketing officer now owns 36,771 shares of the company’s stock, valued at approximately $3,677,100. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Blake J. Jorgensen sold 5,200 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $92.85, for a total transaction of $482,820.00. Following the completion of the transaction, the chief financial officer now directly owns 93,875 shares of the company’s stock, valued at approximately $8,716,293.75. The disclosure for this sale can be found here. Insiders have sold a total of 58,774 shares of company stock valued at $5,609,608 over the last quarter. Corporate insiders own 2.18% of the company’s stock.
EA has been the topic of several analyst reports. Jefferies Financial Group set a $100.00 target price on Electronic Arts and gave the company a “hold” rating in a research report on Wednesday, July 31st. Bank of America lifted their target price on Electronic Arts from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. KeyCorp initiated coverage on Electronic Arts in a research report on Monday, July 29th. They set a “sector weight” rating on the stock. Atlantic Securities upgraded Electronic Arts from a “neutral” rating to an “overweight” rating in a research report on Wednesday, August 7th. Finally, Berenberg Bank set a $110.00 target price on Electronic Arts and gave the company a “buy” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $110.64.
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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