Bank of New York Mellon Corp Sells 59,996 Shares of Electronic Arts Inc. $EA

Bank of New York Mellon Corp decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,587,827 shares of the game software company’s stock after selling 59,996 shares during the period. Bank of New York Mellon Corp owned 0.63% of Electronic Arts worth $320,265,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of EA. State Street Corp boosted its holdings in shares of Electronic Arts by 5.8% during the second quarter. State Street Corp now owns 17,072,959 shares of the game software company’s stock worth $2,726,552,000 after acquiring an additional 932,024 shares during the period. Ameriprise Financial Inc. lifted its holdings in Electronic Arts by 44.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock worth $673,393,000 after purchasing an additional 1,300,336 shares during the last quarter. Invesco Ltd. boosted its stake in Electronic Arts by 10.1% in the 2nd quarter. Invesco Ltd. now owns 4,112,305 shares of the game software company’s stock valued at $656,735,000 after purchasing an additional 378,824 shares during the period. First Trust Advisors LP boosted its stake in Electronic Arts by 17.0% in the 2nd quarter. First Trust Advisors LP now owns 2,430,876 shares of the game software company’s stock valued at $388,211,000 after purchasing an additional 353,327 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Electronic Arts by 50.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,365,221 shares of the game software company’s stock valued at $377,726,000 after buying an additional 791,978 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ EA opened at $203.95 on Friday. The firm’s 50 day simple moving average is $203.76 and its 200 day simple moving average is $188.53. The firm has a market capitalization of $51.01 billion, a price-to-earnings ratio of 59.63, a P/E/G ratio of 2.46 and a beta of 0.73. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 1 year low of $116.29 and a 1 year high of $204.88.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm earned $1.11 earnings per share. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, research analysts expect that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Insider Activity

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $201.65, for a total value of $302,475.00. Following the completion of the transaction, the chief financial officer directly owned 5,595 shares in the company, valued at approximately $1,128,231.75. This trade represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $510,675.00. Following the sale, the insider owned 50,648 shares in the company, valued at approximately $10,345,866.96. This trade represents a 4.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 123,769 shares of company stock valued at $24,943,734. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating on shares of Electronic Arts in a report on Wednesday, October 29th. Roth Mkm lowered shares of Electronic Arts from a “buy” rating to a “neutral” rating and raised their price target for the stock from $185.00 to $210.00 in a research report on Thursday, October 2nd. Zacks Research downgraded shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Citigroup raised their target price on shares of Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Electronic Arts in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $187.19.

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.