Baker Avenue Asset Management LP Cuts Holdings in Electronic Arts Inc. $EA

Baker Avenue Asset Management LP lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 18.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,314 shares of the game software company’s stock after selling 45,952 shares during the period. Electronic Arts accounts for about 1.0% of Baker Avenue Asset Management LP’s investment portfolio, making the stock its 24th biggest holding. Baker Avenue Asset Management LP owned approximately 0.08% of Electronic Arts worth $40,605,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of EA. UniSuper Management Pty Ltd raised its position in shares of Electronic Arts by 7.0% in the 3rd quarter. UniSuper Management Pty Ltd now owns 23,793 shares of the game software company’s stock worth $4,799,000 after acquiring an additional 1,549 shares in the last quarter. Westfuller Advisors LLC bought a new position in Electronic Arts in the third quarter worth about $135,000. Envestnet Portfolio Solutions Inc. raised its holdings in Electronic Arts by 2.5% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 3,917 shares of the game software company’s stock worth $790,000 after purchasing an additional 94 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Electronic Arts by 63.1% during the third quarter. Teacher Retirement System of Texas now owns 151,563 shares of the game software company’s stock valued at $30,570,000 after buying an additional 58,646 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Electronic Arts by 4.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 28,976 shares of the game software company’s stock valued at $5,844,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Trading Down 0.2%

Shares of NASDAQ:EA opened at $204.00 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $204.88. The stock has a market cap of $51.02 billion, a price-to-earnings ratio of 59.65, a PEG ratio of 2.41 and a beta of 0.73. The business has a 50-day moving average price of $203.54 and a 200-day moving average price of $187.06.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EA shares. BMO Capital Markets increased their target price on shares of Electronic Arts from $166.00 to $210.00 and gave the company a “market perform” rating in a research report on Tuesday, September 30th. UBS Group set a $210.00 price target on Electronic Arts and gave the stock a “neutral” rating in a research report on Tuesday, September 30th. Morgan Stanley raised their price objective on Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Jefferies Financial Group downgraded Electronic Arts from a “buy” rating to a “hold” rating and boosted their target price for the stock from $200.00 to $210.00 in a research note on Tuesday, September 30th. Finally, Benchmark reiterated a “buy” rating on shares of Electronic Arts in a research note on Wednesday, October 29th. Four research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $184.36.

Insider Transactions at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction on 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 owned 32,360 shares of the company’s stock, valued at $6,611,148. This trade represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $204.27, for a total transaction of $510,675.00. Following the completion of the sale, the insider directly owned 50,648 shares in the company, valued at approximately $10,345,866.96. The trade was a 4.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 123,769 shares of company stock valued at $24,943,734. 0.24% of the stock is owned by corporate insiders.

Electronic Arts Profile

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.