Principal Financial Group Inc. reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 467,901 shares of the game software company’s stock after selling 15,730 shares during the period. Principal Financial Group Inc. owned 0.15% of Electronic Arts worth $55,240,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in 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 worth $149,000 after acquiring an additional 1,063 shares during the period. Dupont Capital Management Corp bought a new stake in Electronic Arts in the third quarter worth about $183,000. Captrust Financial Advisors bought a new stake in Electronic Arts in the second quarter worth about $195,000. Ray Gerald L & Associates Ltd. bought a new stake in Electronic Arts in the third quarter worth about $208,000. Finally, King Luther Capital Management Corp bought a new stake in Electronic Arts in the second quarter worth about $224,000. 94.56% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on EA. Wedbush reiterated a “buy” rating on shares of Electronic Arts in a research note on Friday, July 28th. KeyCorp reiterated a “buy” rating on shares of Electronic Arts in a research note on Sunday, July 30th. Morgan Stanley reiterated an “overweight” rating and issued a $128.00 target price (up previously from $126.00) on shares of Electronic Arts in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research note on Tuesday, August 1st. Finally, Barclays PLC reduced their price objective on shares of Electronic Arts from $129.00 to $127.00 and set an “overweight” rating for the company in a research note on Wednesday, November 1st. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Electronic Arts has a consensus rating of “Buy” and a consensus target price of $123.38.
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Shares of Electronic Arts Inc. (NASDAQ EA) opened at $112.27 on Wednesday. Electronic Arts Inc. has a 1 year low of $73.74 and a 1 year high of $122.79. The company has a market cap of $34,490.73, a PE ratio of 28.79, a P/E/G ratio of 1.83 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.38 and a current ratio of 2.38.
In other news, SVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $120.77, for a total value of $120,770.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $111.94, for a total transaction of $1,119,400.00. Following the completion of the transaction, the chief financial officer now owns 182,814 shares in the company, valued at approximately $20,464,199.16. The disclosure for this sale can be found here. Insiders have sold a total of 122,524 shares of company stock worth $14,538,985 over the last three months. 2.55% of the stock is currently owned by insiders.
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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