Parametric Portfolio Associates LLC Increases Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)
Parametric Portfolio Associates LLC lifted its stake in Electronic Arts Inc. (NASDAQ:EA) by 0.5% in the second quarter, Holdings Channel.com reports. The firm owned 896,472 shares of the game software company’s stock after buying an additional 4,732 shares during the period. Parametric Portfolio Associates LLC’s holdings in Electronic Arts were worth $90,777,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Athanor Capital LP purchased a new position in shares of Electronic Arts in the 2nd quarter worth approximately $770,000. MML Investors Services LLC boosted its holdings in shares of Electronic Arts by 18.4% in the 2nd quarter. MML Investors Services LLC now owns 7,804 shares of the game software company’s stock worth $790,000 after purchasing an additional 1,213 shares during the period. Bell Asset Management Ltd boosted its holdings in shares of Electronic Arts by 0.8% in the 2nd quarter. Bell Asset Management Ltd now owns 85,830 shares of the game software company’s stock worth $8,691,000 after purchasing an additional 661 shares during the period. Pictet Asset Management Ltd. boosted its holdings in shares of Electronic Arts by 6.6% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,160,490 shares of the game software company’s stock worth $117,511,000 after purchasing an additional 71,877 shares during the period. Finally, Cibc World Markets Corp boosted its holdings in shares of Electronic Arts by 14.4% in the 2nd quarter. Cibc World Markets Corp now owns 328,305 shares of the game software company’s stock worth $33,244,000 after purchasing an additional 41,289 shares during the period. Hedge funds and other institutional investors own 92.66% of the company’s stock.
A number of brokerages have recently commented on EA. Bank of America lifted their target price on Electronic Arts from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Cowen upgraded Electronic Arts from a “market perform” rating to an “outperform” rating and set a $104.00 target price for the company 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. KeyCorp began coverage on Electronic Arts in a report on Monday, July 29th. They issued a “sector weight” rating for the company. Finally, Berenberg Bank set a $110.00 price objective on Electronic Arts and gave the company a “buy” rating in a report on Thursday, August 22nd. One equities 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.64.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, July 30th. The game software company reported ($0.26) earnings per share for the quarter, missing the Zacks’ 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 net margin of 42.75% and a return on equity of 19.63%. As a group, research analysts anticipate that Electronic Arts Inc. will post 3.74 earnings per share for the current fiscal year.
In other news, insider Laura Miele sold 785 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $93.25, for a total value of $73,201.25. Following the completion of the transaction, the insider now directly owns 13,077 shares of the company’s stock, valued at approximately $1,219,430.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chris Bruzzo sold 9,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was 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 of the company’s stock, valued at $4,640,263.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,074 shares of company stock valued at $9,331,897. 2.18% of the stock is currently owned by corporate insiders.
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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