Electronic Arts Inc. (EA) CFO Blake J. Jorgensen Sells 10,000 Shares
Electronic Arts Inc. (NASDAQ:EA) CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $115.25, for a total value of $1,152,500.00. Following the transaction, the chief financial officer now owns 209,614 shares in the company, valued at approximately $24,158,013.50. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of Electronic Arts Inc. (NASDAQ:EA) traded up 1.44% during mid-day trading on Monday, hitting $117.11. The company had a trading volume of 2,890,041 shares. The firm has a 50-day moving average of $112.32 and a 200-day moving average of $99.99. The company has a market cap of $36.16 billion, a PE ratio of 31.35 and a beta of 0.72. Electronic Arts Inc. has a 12 month low of $73.74 and a 12 month high of $120.25.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The business had revenue of $775 million for the quarter, compared to the consensus estimate of $768.47 million. During the same period in the prior year, the business earned $0.07 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. On average, analysts expect that Electronic Arts Inc. will post $4.24 EPS for the current year.
Electronic Arts declared that its board has approved a stock buyback plan on Tuesday, May 9th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the game software company to purchase up to 45% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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A number of research analysts have recently issued reports on the company. Pacific Crest reiterated an “overweight” rating and set a $112.00 target price on shares of Electronic Arts in a research report on Wednesday, April 26th. BidaskClub lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. KeyCorp reiterated a “buy” rating on shares of Electronic Arts in a research report on Sunday, July 30th. Piper Jaffray Companies decreased their target price on Electronic Arts from $119.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 10th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $94.00 target price on shares of Electronic Arts in a research report on Thursday, April 20th. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $115.19.
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in Electronic Arts by 0.7% in the second quarter. FMR LLC now owns 30,692,180 shares of the game software company’s stock valued at $3,244,778,000 after buying an additional 205,768 shares during the last quarter. Vanguard Group Inc. raised its position in Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after buying an additional 2,394,314 shares during the last quarter. BlackRock Inc. raised its position in Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock valued at $1,858,837,000 after buying an additional 20,174,721 shares during the last quarter. State Street Corp raised its position in Electronic Arts by 2.8% in the first quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock valued at $1,064,069,000 after buying an additional 318,704 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Electronic Arts by 24.8% in the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock valued at $845,359,000 after buying an additional 1,877,351 shares during the last quarter. Hedge funds and other institutional investors own 97.31% of the company’s stock.
About Electronic Arts
Electronic Arts Inc 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. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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