Electronic Arts Inc. (NASDAQ:EA) Announces Earnings Results

Rufina Vignone
Luglio 29, 2017

Ameriprise Financial Inc. raised its stake in shares of Electronic Arts by 24.8% in the first quarter. The institutional investor owned 13,695 shares of the game software company's stock after selling 50 shares during the period.

Electronic Arts (NASDAQ:EA) has insider ownership of 2.55% and institutional ownership of 98.26%.

Other large investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Electronic Arts during the fourth quarter valued at approximately $769,000. Vanguard Group Inc. now owns 29,631,771 shares of the game software company's stock worth $2,652,637,000 after buying an additional 2,394,314 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Electronic Arts by 8.8% in the first quarter. CIBC Asset Management Inc boosted its position in Electronic Arts by 4.3% in the second quarter. AQR Capital Management LLC now owns 2,180,565 shares of the game software company's stock worth $195,204,000 after buying an additional 1,386,296 shares during the period. Commerce Bank acquired a new position in shares of Electronic Arts during the first quarter worth $203,000. Finally, AQR Capital Management LLC increased its position in Electronic Arts by 174.5% in the first quarter. Great West Life Assurance Co. Can now owns 386,011 shares of the game software company's stock worth $40,741,000 after buying an additional 133,968 shares during the last quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company's stock worth $1,858,837,000 after buying an additional 20,174,721 shares during the period. Renaissance Gru Limited Company has invested 1.2% in Electronic Arts Inc.

Electronic Arts (NASDAQ EA) opened at 117.60 on Friday. Overall, volume was down 89.05% under the stocks normal daily volume. The firm has a 50 day moving average price of $110.53 and a 200 day moving average price of $96.68.

The P/E ratio is 38.18 and the market value is 36.46B.

Electronic Arts Inc. has a 12-month low of $73.74 and a 12-month high of $120.25.

Electronic Arts (NASDAQ:EA) last released its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.22, Morningstar.com reports. The company had revenue of $775 million during the quarter, compared to analysts' expectations of $768.47 million. The company's revenue for the quarter was up 13.6% compared to the same quarter past year. During the same period a year ago, the firm posted $0.07 EPS. Equities research analysts anticipate that Electronic Arts Inc. will post $4.22 earnings per share for the current year.

Electronic Arts announced that its board has authorized a share buyback program on Tuesday, May 9th that allows the company to buyback $1.20 billion in outstanding shares. This repurchase authorization allows the game software company to purchase up to 45% of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

WARNING: "Electronic Arts Inc". (NASDAQ:EA) for 16,731 shares. If you are reading this story on another site, it was illegally copied and reposted in violation of USA and worldwide copyright & trademark laws. The original version of this news story can be accessed at https://www.baseball-news-blog.com/2017/07/28/electronic-arts-inc-nasdaqea-shares-sold-by-macquarie-group-ltd-updated-updated-updated.html.

A number of research firms have recently commented on EA. UBS AG restated a "buy" rating and issued a $112.00 target price (up previously from $96.00) on shares of Electronic Arts in a research note on Thursday, May 11th. Zacks Investment Research lowered Electronic Arts from a "hold" rating to a "sell" rating in a research note on Friday, April 21st.

On October 28 the stock rating was downgraded to "Market Perform" from "Outperform" in a report issued by Cowen & Co. BidaskClub raised Electronic Arts from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Mizuho set a $115.00 target price on Electronic Arts and gave the stock a "buy" rating in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Electronic Arts presently has a consensus rating of "Buy" and an average price target of $110.84.

(NASDAQ:EA) shares were sold by Jorgensen Blake J. The shares were sold on June 15th for an average price of $107.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick Soderlund sold 55,163 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $35.62, for a total transaction of $1,075,510.28. Following the sale, the executive vice president now directly owns 12,122 shares in the company, valued at $1,139,589.22. The disclosure for this sale can be found here. The insider Kirby Jefferson sold 4,070 shares worth $2.61M.

Electronic Arts Inc., launched on May 8, 1991, develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets.

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