Bank of New York Mellon Corp Has $320.27 Million Stake in Electronic Arts Inc. $EA

Bank of New York Mellon Corp cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,587,827 shares of the game software company’s stock after selling 59,996 shares during the quarter. Bank of New York Mellon Corp’s holdings in Electronic Arts were worth $320,265,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC lifted its stake in shares of Electronic Arts by 70.1% in 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 during the period. E Fund Management Hong Kong Co. Ltd. lifted its position 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 purchasing an additional 95 shares during the period. MTM Investment Management LLC acquired a new position in shares of Electronic Arts in the 2nd quarter worth approximately $30,000. Frazier Financial Advisors LLC boosted its stake 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 valued at $31,000 after purchasing an additional 148 shares during the last quarter. Finally, NewSquare Capital LLC increased its position in shares of Electronic Arts by 67.5% during the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock worth $31,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $203.95 on Friday. The business has a 50-day simple moving average of $203.76 and a 200 day simple moving average of $188.53. Electronic Arts Inc. has a one year low of $116.29 and a one year high of $204.88. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $51.01 billion, a price-to-earnings ratio of 59.63, a PEG ratio of 2.46 and a beta of 0.73.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.07). The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.88 billion. Electronic Arts had a return on equity of 15.30% and a net margin of 12.14%.The firm’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.11 EPS. On average, research analysts anticipate that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EA shares. Argus set a $210.00 target price on shares of Electronic Arts in a report on Thursday, October 30th. Citigroup boosted their price objective on Electronic Arts from $206.00 to $207.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Roth Mkm lowered Electronic Arts from a “buy” rating to a “neutral” rating and upped their target price for the company from $185.00 to $210.00 in a research report on Thursday, October 2nd. Morgan Stanley lifted their target price on Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Finally, Zacks Research lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Four research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $187.19.

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $204.30, for a total transaction of $245,160.00. Following the completion of the transaction, the insider directly owned 32,360 shares in the company, valued at $6,611,148. This trade represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 123,769 shares of company stock worth $24,943,734 in the last quarter. Insiders own 0.24% of the company’s stock.

About Electronic Arts

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.