Lawrence F. Probst III Sells 68,072 Shares of Electronic Arts Inc. (EA) Stock
Electronic Arts Inc. (NASDAQ:EA) Director Lawrence F. Probst III sold 68,072 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $118.83, for a total transaction of $8,088,995.76. Following the transaction, the director now owns 176,348 shares of the company’s stock, valued at approximately $20,955,432.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Electronic Arts Inc. (NASDAQ:EA) traded up 0.35% during trading on Friday, reaching $116.88. 1,912,014 shares of the company were exchanged. Electronic Arts Inc. has a one year low of $73.74 and a one year high of $120.25. The stock has a market capitalization of $36.08 billion, a price-to-earnings ratio of 31.29 and a beta of 0.72. The firm’s 50 day moving average price is $113.01 and its 200-day moving average price is $100.49.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $768.47 million. During the same period in the previous year, the business posted $0.07 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts predict that Electronic Arts Inc. will post $4.24 earnings per share for the current year.
Electronic Arts announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 9th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the game software company to repurchase up to 45% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
A number of large investors have recently made changes to their positions in the stock. D. Scott Neal Inc. bought a new stake in shares of Electronic Arts during the second quarter valued at $120,000. Guardian Life Insurance Co. of America boosted its stake in shares of Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after buying an additional 34 shares in the last quarter. Invictus RG boosted its stake in shares of Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after buying an additional 1,148 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Electronic Arts by 310.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock valued at $149,000 after buying an additional 1,063 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in shares of Electronic Arts during the second quarter valued at $195,000. Institutional investors and hedge funds own 97.31% of the company’s stock.
EA has been the topic of several analyst reports. Pacific Crest reaffirmed an “overweight” rating and set a $112.00 price target on shares of Electronic Arts in a research report on Wednesday, April 26th. Needham & Company LLC initiated coverage on shares of Electronic Arts in a research report on Monday, July 17th. They set a “buy” rating and a $130.00 price target on the stock. Vetr raised shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price target on the stock in a research report on Monday, May 8th. Jefferies Group LLC reaffirmed a “buy” rating and set a $135.00 price target (up from $123.00) on shares of Electronic Arts in a research report on Friday, July 28th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and set a $104.00 price target on shares of Electronic Arts in a research report on Monday, May 8th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Electronic Arts currently has an average rating of “Buy” and a consensus target price of $115.19.
Electronic Arts Company Profile
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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