State of Alaska Department of Revenue Sells 19,165 Shares of Electronic Arts Inc. (NASDAQ:EA)

State of Alaska Department of Revenue decreased its position in Electronic Arts Inc. (NASDAQ:EA) by 22.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,153 shares of the game software company’s stock after selling 19,165 shares during the period. State of Alaska Department of Revenue’s holdings in Electronic Arts were worth $9,487,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Electronic Arts by 14.7% during the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after acquiring an additional 3,727,251 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Electronic Arts by 496.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after purchasing an additional 2,090,504 shares during the period. Swedbank AB bought a new position in shares of Electronic Arts in the 1st quarter worth approximately $201,935,000. Jericho Capital Asset Management L.P. bought a new position in shares of Electronic Arts in the 1st quarter worth approximately $189,055,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Electronic Arts in the 2nd quarter worth approximately $188,159,000. Institutional investors own 90.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EA. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of Electronic Arts in a research note on Friday. Benchmark reiterated a “buy” rating and issued a $163.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. Jefferies Financial Group began coverage on shares of Electronic Arts in a research note on Thursday, July 11th. They issued a “buy” rating and a $165.00 price objective on the stock. Raymond James increased their target price on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Roth Mkm reissued a “neutral” rating and issued a $154.00 target price on shares of Electronic Arts in a report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.76.

Insider Activity

In other news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total transaction of $151,700.00. Following the completion of the transaction, the insider now directly owns 30,190 shares in the company, valued at approximately $4,579,823. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $144.72, for a total value of $217,080.00. Following the completion of the sale, the executive vice president now directly owns 24,860 shares in the company, valued at $3,597,739.20. This trade represents a 0.00 % 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 Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total value of $151,700.00. Following the completion of the sale, the insider now owns 30,190 shares of the company’s stock, valued at approximately $4,579,823. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,270 shares of company stock worth $3,287,735. 0.22% of the stock is currently owned by insiders.

Electronic Arts Trading Up 0.1 %

Shares of EA opened at $145.20 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. Electronic Arts Inc. has a 1 year low of $119.92 and a 1 year high of $153.51. The company has a 50 day simple moving average of $145.01 and a two-hundred day simple moving average of $139.65. The firm has a market cap of $38.58 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, equities analysts expect that Electronic Arts Inc. will post 5.93 earnings per share for the current fiscal year.

About Electronic Arts

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.