State of Alaska Department of Revenue Lowers Stake in Electronic Arts Inc. (NASDAQ:EA)

State of Alaska Department of Revenue reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 22.5% in the third quarter, Holdings Channel reports. The firm owned 66,153 shares of the game software company’s stock after selling 19,165 shares during the period. State of Alaska Department of Revenue’s holdings in Electronic Arts were worth $9,487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in EA. Mirador Capital Partners LP raised its holdings in shares of Electronic Arts by 15.4% in the first quarter. Mirador Capital Partners LP now owns 3,766 shares of the game software company’s stock valued at $500,000 after acquiring an additional 502 shares in the last quarter. Diversified Trust Co raised its holdings in Electronic Arts by 90.0% in the first quarter. Diversified Trust Co now owns 15,150 shares of the game software company’s stock worth $2,010,000 after purchasing an additional 7,176 shares in the last quarter. Claro Advisors LLC raised its holdings in Electronic Arts by 5.6% in the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock worth $250,000 after purchasing an additional 100 shares in the last quarter. Cullinan Associates Inc. raised its holdings in Electronic Arts by 5.2% in the first quarter. Cullinan Associates Inc. now owns 193,823 shares of the game software company’s stock worth $25,714,000 after purchasing an additional 9,554 shares in the last quarter. Finally, Svenska Handelsbanken AB publ bought a new position in Electronic Arts in the first quarter worth about $31,017,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $145.20 on Monday. The business’s 50 day moving average price is $145.01 and its 200 day moving average price is $139.65. The firm has a market cap of $38.58 billion, a P/E ratio of 31.03, a P/E/G ratio of 1.97 and a beta of 0.79. Electronic Arts Inc. has a 52 week low of $119.92 and a 52 week high of $153.51. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, July 30th. The game software company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. On average, sell-side analysts expect that Electronic Arts Inc. will post 5.93 earnings per share for the current year.

Insider Activity at Electronic Arts

In other Electronic Arts news, Director Luis A. Ubinas sold 2,126 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $146.77, for a total value of $312,033.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total value of $151,700.00. Following the sale, the insider now owns 30,190 shares in the company, valued at approximately $4,579,823. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Luis A. Ubinas sold 2,126 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $146.77, for a total value of $312,033.02. The disclosure for this sale can be found here. Insiders have sold a total of 22,270 shares of company stock worth $3,287,735 over the last quarter. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group boosted their target price on shares of Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and issued a $170.00 target price on shares of Electronic Arts in a report on Friday. Oppenheimer boosted their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $160.00 target price on shares of Electronic Arts in a report on Wednesday, September 18th. Finally, Roth Mkm restated a “neutral” rating and set a $154.00 price objective on shares of Electronic Arts in a report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.76.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.