SRS Investment Management LLC lowered its position in Electronic Arts Inc. (NASDAQ:EA) by 9.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,307,584 shares of the game software company’s stock after selling 240,000 shares during the quarter. Electronic Arts comprises 5.0% of SRS Investment Management LLC’s investment portfolio, making the stock its 7th largest holding. SRS Investment Management LLC owned approximately 0.78% of Electronic Arts worth $233,666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EA. FMR LLC increased its holdings in Electronic Arts by 10.8% in the 1st quarter. FMR LLC now owns 16,439,841 shares of the game software company’s stock worth $1,670,780,000 after acquiring an additional 1,598,653 shares during the last quarter. Marshall Wace North America L.P. grew its holdings in Electronic Arts by 1,091.0% during the 1st quarter. Marshall Wace North America L.P. now owns 1,263,601 shares of the game software company’s stock valued at $128,421,000 after buying an additional 1,157,504 shares in the last quarter. Invesco Ltd. grew its holdings in Electronic Arts by 15.7% during the 2nd quarter. Invesco Ltd. now owns 6,715,803 shares of the game software company’s stock valued at $680,043,000 after buying an additional 913,279 shares in the last quarter. Independent Franchise Partners LLP grew its holdings in Electronic Arts by 35.4% during the 2nd quarter. Independent Franchise Partners LLP now owns 3,421,561 shares of the game software company’s stock valued at $346,467,000 after buying an additional 894,736 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Electronic Arts by 72.9% during the 1st quarter. Wells Fargo & Company MN now owns 1,748,806 shares of the game software company’s stock valued at $177,732,000 after buying an additional 737,527 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on EA shares. Bank of America lifted their price target on Electronic Arts from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Berenberg Bank set a $110.00 price target on Electronic Arts and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wedbush reiterated an “outperform” rating and set a $112.00 price target on shares of Electronic Arts in a research report on Wednesday, September 4th. 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 report on Tuesday, July 2nd. Finally, TheStreet upgraded Electronic Arts from a “c+” rating to a “b” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $110.64.

In other news, EVP Matthew Bilbey sold 600 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $102.65, for a total transaction of $61,590.00. Following the transaction, the executive vice president now directly owns 10,773 shares of the company’s stock, valued at $1,105,848.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Wilson sold 29,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $101.10, for a total value of $2,931,900.00. Following the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at $2,022,000. The disclosure for this sale can be found here. Insiders have sold 95,074 shares of company stock worth $9,331,897 over the last three months. Insiders own 2.18% of the company’s stock.

EA stock traded down $0.63 during midday trading on Friday, hitting $99.06. The company had a trading volume of 1,379,445 shares, compared to its average volume of 2,813,757. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.15. Electronic Arts Inc. has a 52 week low of $73.91 and a 52 week high of $121.30. The stock’s 50 day moving average price is $94.89 and its 200 day moving average price is $95.20. The stock has a market cap of $29.01 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.21 and a beta of 0.97.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, July 30th. The game software company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $743.00 million during the quarter, compared to the consensus estimate of $724.55 million. Analysts predict that Electronic Arts Inc. will post 3.74 earnings per share for the current year.

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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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