Anchor Capital Advisors LLC Sells 2,980 Shares of Electronic Arts Inc. (NASDAQ:EA)

Anchor Capital Advisors LLC cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 20.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,813 shares of the game software company’s stock after selling 2,980 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Electronic Arts were worth $1,616,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EA. AE Wealth Management LLC increased its position in Electronic Arts by 41.4% in the 3rd quarter. AE Wealth Management LLC now owns 3,441 shares of the game software company’s stock valued at $414,000 after acquiring an additional 1,007 shares during the period. IFP Advisors Inc grew its holdings in Electronic Arts by 20.6% during the third quarter. IFP Advisors Inc now owns 608 shares of the game software company’s stock worth $73,000 after buying an additional 104 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Electronic Arts by 4.4% in the third quarter. Commonwealth Equity Services LLC now owns 40,542 shares of the game software company’s stock valued at $4,881,000 after purchasing an additional 1,711 shares during the last quarter. Toews Corp ADV purchased a new stake in Electronic Arts in the 3rd quarter valued at about $795,000. Finally, Palouse Capital Management Inc. lifted its holdings in Electronic Arts by 2.1% during the third quarter. Palouse Capital Management Inc. now owns 8,164 shares of the game software company’s stock worth $983,000 after acquiring an additional 170 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Electronic Arts from $152.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Wedbush reissued an “outperform” rating and issued a $162.00 target price on shares of Electronic Arts in a research note on Wednesday, January 31st. Benchmark reissued a “buy” rating and set a $153.00 price objective on shares of Electronic Arts in a research report on Thursday, April 18th. Oppenheimer reissued an “outperform” rating and set a $150.00 price objective on shares of Electronic Arts in a research report on Tuesday, April 23rd. Finally, UBS Group decreased their price objective on shares of Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a report on Wednesday, March 27th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and an average price target of $147.00.

Electronic Arts Stock Down 0.7 %

Shares of NASDAQ:EA traded down $0.91 during trading hours on Tuesday, hitting $126.99. The company’s stock had a trading volume of 185,451 shares, compared to its average volume of 1,966,805. The firm’s fifty day moving average price is $133.09 and its 200 day moving average price is $134.56. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $144.53. The company has a market capitalization of $33.95 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 1.77 and a beta of 0.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 1.33.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, January 30th. The game software company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.38). The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.40 billion. Electronic Arts had a net margin of 14.09% and a return on equity of 20.58%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.29 earnings per share. As a group, research analysts expect that Electronic Arts Inc. will post 5.35 EPS for the current year.

Insider Buying and Selling at Electronic Arts

In other news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $137.43, for a total transaction of $109,944.00. Following the completion of the transaction, the insider now directly owns 28,683 shares of the company’s stock, valued at approximately $3,941,904.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $127.19, for a total value of $317,975.00. Following the sale, the chief executive officer now owns 23,430 shares in the company, valued at $2,980,061.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $137.43, for a total transaction of $109,944.00. Following the transaction, the insider now owns 28,683 shares of the company’s stock, valued at approximately $3,941,904.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,144 shares of company stock worth $5,114,335. Company insiders own 0.20% of the company’s stock.

Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.