Jag Capital Management LLC trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,000 shares of the game software company’s stock after selling 366 shares during the period. Jag Capital Management LLC’s holdings in Electronic Arts were worth $1,467,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in EA. Valeo Financial Advisors LLC bought a new stake in Electronic Arts in the 2nd quarter valued at $28,000. North Star Investment Management Corp. bought a new stake in Electronic Arts in the 3rd quarter valued at $28,000. Transamerica Financial Advisors Inc. bought a new stake in Electronic Arts in the 2nd quarter valued at $40,000. Griffin Asset Management Inc. bought a new stake in Electronic Arts in the 2nd quarter valued at $43,000. Finally, Westside Investment Management Inc. bought a new stake in Electronic Arts in the 2nd quarter valued at $50,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.
A number of brokerages have issued reports on EA. Barclays reiterated an “equal weight” rating on shares of Electronic Arts in a report on Tuesday. 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 research note on Tuesday, July 2nd. TheStreet raised shares of Electronic Arts from a “c+” rating to a “b” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein set a $121.00 price objective on shares of Electronic Arts and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BidaskClub cut shares of Electronic Arts from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $110.50.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data 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). The firm had revenue of $743.00 million for the quarter, compared to the consensus estimate of $724.55 million. Electronic Arts had a return on equity of 19.63% and a net margin of 42.75%. On average, research analysts predict that Electronic Arts Inc. will post 3.73 EPS for the current fiscal year.
In other Electronic Arts news, CEO Andrew Wilson sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $95.07, for a total transaction of $855,630.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Blake J. Jorgensen sold 5,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $92.85, for a total transaction of $482,820.00. Following the sale, the chief financial officer now directly owns 93,875 shares in the company, valued at approximately $8,716,293.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,774 shares of company stock worth $5,609,608. 2.18% of the stock is owned by insiders.
About Electronic Arts
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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