Baird Financial Group Inc. Sells 21,215 Shares of Electronic Arts Inc. (NASDAQ:EA)

Baird Financial Group Inc. reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,495 shares of the game software company’s stock after selling 21,215 shares during the quarter. Baird Financial Group Inc.’s holdings in Electronic Arts were worth $14,245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of EA. Colony Group LLC grew its stake in shares of Electronic Arts by 0.4% in the third quarter. Colony Group LLC now owns 132,308 shares of the game software company’s stock worth $12,942,000 after purchasing an additional 562 shares during the last quarter. Voya Financial Advisors Inc. grew its stake in shares of Electronic Arts by 17.9% in the third quarter. Voya Financial Advisors Inc. now owns 7,777 shares of the game software company’s stock worth $744,000 after purchasing an additional 1,179 shares during the last quarter. Boston Partners bought a new stake in shares of Electronic Arts in the third quarter worth about $66,642,000. Carnegie Capital Asset Management LLC grew its stake in shares of Electronic Arts by 3.8% in the third quarter. Carnegie Capital Asset Management LLC now owns 8,292 shares of the game software company’s stock worth $811,000 after purchasing an additional 300 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Electronic Arts by 7.3% in the third quarter. Stifel Financial Corp now owns 271,367 shares of the game software company’s stock worth $26,464,000 after purchasing an additional 18,521 shares during the last quarter. 90.70% of the stock is currently owned by institutional investors.

EA stock opened at $89.64 on Thursday. The firm has a 50 day moving average price of $103.03 and a 200-day moving average price of $102.07. Electronic Arts Inc. has a 52-week low of $85.69 and a 52-week high of $114.13. The firm has a market capitalization of $27.32 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 1.92 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.84 and a current ratio of 2.84.

Electronic Arts (NASDAQ:EA) last released its earnings results on Thursday, January 30th. The game software company reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.26. Electronic Arts had a net margin of 52.52% and a return on equity of 18.86%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the business earned $0.86 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts forecast that Electronic Arts Inc. will post 3.75 earnings per share for the current fiscal year.

In other Electronic Arts news, insider Vijayanthimala Singh sold 500 shares of Electronic Arts stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $107.94, for a total value of $53,970.00. Following the completion of the sale, the insider now owns 10,748 shares of the company’s stock, valued at approximately $1,160,139.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 20,000 shares of Electronic Arts stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $107.15, for a total transaction of $2,143,000.00. Following the completion of the sale, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $2,143,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,036 shares of company stock valued at $8,145,994. 2.18% of the stock is owned by company insiders.

Several brokerages have commented on EA. Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective on shares of Electronic Arts in a report on Friday, January 31st. Stifel Nicolaus raised their price objective on shares of Electronic Arts from $111.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Wedbush restated a “buy” rating and issued a $135.00 price objective on shares of Electronic Arts in a report on Friday, January 31st. Berenberg Bank restated a “buy” rating and issued a $125.00 price objective on shares of Electronic Arts in a report on Wednesday, February 5th. Finally, Robert W. Baird raised their price objective on shares of Electronic Arts from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $115.96.

Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.

See Also: Return on Equity (ROE)

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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