State of Tennessee Treasury Department trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 11.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,651 shares of the game software company’s stock after selling 11,822 shares during the period. State of Tennessee Treasury Department’s holdings in Electronic Arts were worth $9,180,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its stake in Electronic Arts by 5.7% during the first quarter. State Street Corp now owns 14,019,159 shares of the game software company’s stock worth $1,404,299,000 after buying an additional 750,716 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Electronic Arts by 2.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,969,701 shares of the game software company’s stock worth $1,098,835,000 after acquiring an additional 242,929 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Electronic Arts by 1.4% in the first quarter. Alliancebernstein L.P. now owns 7,374,001 shares of the game software company’s stock worth $738,654,000 after acquiring an additional 105,310 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Electronic Arts by 0.6% in the first quarter. Geode Capital Management LLC now owns 4,454,343 shares of the game software company’s stock worth $445,421,000 after acquiring an additional 25,307 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Electronic Arts by 76.0% in the first quarter. Capital Research Global Investors now owns 3,630,076 shares of the game software company’s stock worth $363,625,000 after acquiring an additional 1,567,265 shares during the last quarter. Hedge funds and other institutional investors own 87.98% of the company’s stock.

In other Electronic Arts news, General Counsel Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $126.73, for a total value of $126,730.00. Following the sale, the general counsel now owns 26,435 shares of the company’s stock, valued at approximately $3,350,107.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 500 shares of Electronic Arts stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $98.38, for a total value of $49,190.00. Following the completion of the sale, the insider now directly owns 8,677 shares in the company, valued at approximately $853,643.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,152 shares of company stock worth $25,181,682. Corporate insiders own 2.18% of the company’s stock.

EA has been the subject of a number of research reports. Nomura increased their target price on shares of Electronic Arts from $120.00 to $132.00 in a report on Wednesday, May 6th. Oppenheimer assumed coverage on shares of Electronic Arts in a report on Thursday, June 18th. They issued a “buy” rating and a $125.00 price objective for the company. Cowen raised their price objective on shares of Electronic Arts from $119.00 to $129.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. BMO Capital Markets raised their price objective on shares of Electronic Arts from $110.00 to $132.00 and gave the company a “market perform” rating in a report on Friday. Finally, Deutsche Bank raised their price objective on shares of Electronic Arts from $110.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Electronic Arts has a consensus rating of “Buy” and an average target price of $128.75.

Electronic Arts stock traded down $0.94 during midday trading on Friday, reaching $129.80. The company’s stock had a trading volume of 59,552 shares, compared to its average volume of 3,126,511. Electronic Arts Inc. has a fifty-two week low of $85.69 and a fifty-two week high of $133.60. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.05. The company has a market cap of $37.78 billion, a P/E ratio of 12.76, a P/E/G ratio of 4.61 and a beta of 0.91. The business has a 50-day simple moving average of $121.21 and a 200-day simple moving average of $110.37.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, May 5th. The game software company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.36. Electronic Arts had a return on equity of 16.79% and a net margin of 54.88%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.17 billion. As a group, equities analysts forecast that Electronic Arts Inc. will post 3.9 earnings per share for the current year.

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.

Recommended Story: What is the Consumer Price Index (CPI)?

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA).

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

Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.