Arizona State Retirement System Lowers Stock Position in Electronic Arts Inc. $EA

Arizona State Retirement System cut its holdings in Electronic Arts Inc. (NASDAQ:EA) by 3.7% during the third quarter, Holdings Channel reports. The institutional investor owned 69,712 shares of the game software company’s stock after selling 2,644 shares during the quarter. Arizona State Retirement System’s holdings in Electronic Arts were worth $14,061,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC boosted its stake in Electronic Arts by 70.1% during the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after acquiring an additional 68 shares in the last quarter. MTM Investment Management LLC purchased a new position in shares of Electronic Arts during the second quarter valued at approximately $30,000. Frazier Financial Advisors LLC boosted its position in shares of Electronic Arts by 328.9% in the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock worth $31,000 after purchasing an additional 148 shares in the last quarter. NewSquare Capital LLC boosted its position in shares of Electronic Arts by 67.5% in the 2nd quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock worth $31,000 after purchasing an additional 79 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Electronic Arts by 131.9% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 167 shares of the game software company’s stock worth $34,000 after buying an additional 95 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Insider Activity at Electronic Arts

In other news, CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $201.65, for a total transaction of $302,475.00. Following the transaction, the chief financial officer owned 5,595 shares in the company, valued at $1,128,231.75. This trade represents a 21.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $204.27, for a total transaction of $510,675.00. Following the sale, the insider directly owned 50,648 shares of the company’s stock, valued at approximately $10,345,866.96. The trade was a 4.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 123,769 shares of company stock valued at $24,943,734 in the last three months. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Stock Down 0.0%

EA stock opened at $203.92 on Friday. The company has a market cap of $51.00 billion, a price-to-earnings ratio of 59.63, a P/E/G ratio of 2.46 and a beta of 0.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50-day moving average is $203.83 and its two-hundred day moving average is $188.91. Electronic Arts Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $204.88.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.07). Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the company earned $1.11 EPS. Electronic Arts’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, analysts forecast that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EA has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating on shares of Electronic Arts in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Electronic Arts in a report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Argus set a $210.00 price target on shares of Electronic Arts in a report on Thursday, October 30th. Finally, Citigroup increased their price objective on Electronic Arts from $206.00 to $207.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $187.19.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.