Ropes Wealth Advisors LLC Acquires New Holdings in Electronic Arts Inc. (EA)

Ropes Wealth Advisors LLC acquired a new position in Electronic Arts Inc. (NASDAQ:EA) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 333 shares of the game software company’s stock, valued at approximately $34,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new position in Electronic Arts in the 4th quarter valued at about $28,000. Baystate Wealth Management LLC grew its position in Electronic Arts by 373.1% in the 4th quarter. Baystate Wealth Management LLC now owns 317 shares of the game software company’s stock valued at $29,000 after buying an additional 250 shares in the last quarter. North Star Investment Management Corp. bought a new position in Electronic Arts in the 1st quarter valued at about $29,000. Oregon Public Employees Retirement Fund grew its position in Electronic Arts by 7,694.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,624,704 shares of the game software company’s stock valued at $33,000 after buying an additional 2,591,032 shares in the last quarter. Finally, Bremer Trust National Association bought a new position in Electronic Arts in the 4th quarter valued at about $35,000. 92.91% of the stock is currently owned by institutional investors and hedge funds.

Shares of EA opened at $93.83 on Wednesday. Electronic Arts Inc. has a one year low of $73.91 and a one year high of $151.26. The stock has a market capitalization of $29.32 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.68 and a beta of 1.19. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.19.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, February 5th. The game software company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.75 by $0.12. Electronic Arts had a net margin of 26.77% and a return on equity of 23.21%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the company posted ($0.60) earnings per share. The business’s revenue for the quarter was down 18.4% on a year-over-year basis. As a group, analysts anticipate that Electronic Arts Inc. will post 3.14 earnings per share for the current fiscal year.

EA has been the subject of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $109.00 target price on shares of Electronic Arts in a research report on Thursday, February 14th. BidaskClub upgraded shares of Electronic Arts from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. Jefferies Financial Group lowered shares of Electronic Arts from a “buy” rating to a “hold” rating and reduced their price objective for the company from $139.00 to $95.00 in a research report on Thursday, January 17th. BMO Capital Markets raised their price objective on shares of Electronic Arts from $96.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 13th. Finally, Wedbush restated a “buy” rating and set a $111.00 price objective (down previously from $133.00) on shares of Electronic Arts in a research report on Wednesday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $112.04.

In other Electronic Arts news, CEO Andrew Wilson sold 9,000 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $91.77, for a total value of $825,930.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura Miele sold 1,250 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $91.77, for a total transaction of $114,712.50. Following the completion of the transaction, the insider now owns 6,760 shares of the company’s stock, valued at $620,365.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,500 shares of company stock valued at $8,266,003. Corporate insiders own 2.24% of the company’s stock.

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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.

Further Reading: Strangles

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

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