6,300 Shares in Electronic Arts Inc. (EA) Acquired by Barometer Capital Management Inc.

Barometer Capital Management Inc. bought a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 6,300 shares of the game software company’s stock, valued at approximately $666,000.

A number of other large investors have also recently modified their holdings of EA. Guardian Life Insurance Co. of America boosted its position in shares of Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after buying an additional 34 shares during the last quarter. Jaffetilchin Investment Partners LLC boosted its position in shares of Electronic Arts by 0.9% in the first quarter. Jaffetilchin Investment Partners LLC now owns 4,943 shares of the game software company’s stock valued at $442,000 after buying an additional 45 shares during the last quarter. ProVise Management Group LLC boosted its position in shares of Electronic Arts by 1.3% in the first quarter. ProVise Management Group LLC now owns 4,288 shares of the game software company’s stock valued at $384,000 after buying an additional 53 shares during the last quarter. San Francisco Sentry Investment Group CA boosted its position in shares of Electronic Arts by 1.4% in the first quarter. San Francisco Sentry Investment Group CA now owns 4,962 shares of the game software company’s stock valued at $444,000 after buying an additional 67 shares during the last quarter. Finally, NEXT Financial Group Inc boosted its position in shares of Electronic Arts by 0.6% in the second quarter. NEXT Financial Group Inc now owns 12,316 shares of the game software company’s stock valued at $1,302,000 after buying an additional 70 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Shares of Electronic Arts Inc. (NASDAQ:EA) traded up 1.28% during mid-day trading on Friday, reaching $115.45. 1,584,977 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $112.14 and a 200 day moving average of $99.46. The firm has a market capitalization of $35.64 billion, a P/E ratio of 30.91 and a beta of 0.72. Electronic Arts Inc. has a one year low of $73.74 and a one year high of $120.25.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.22. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The firm had revenue of $775 million during the quarter, compared to the consensus estimate of $768.47 million. During the same period last year, the company earned $0.07 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. On average, analysts forecast that Electronic Arts Inc. will post $4.24 EPS for the current fiscal year.

Electronic Arts declared that its board has authorized a share buyback plan on Tuesday, May 9th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the game software company to purchase up to 45% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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A number of analysts have commented on the stock. UBS AG reiterated a “buy” rating and issued a $112.00 price target (up previously from $96.00) on shares of Electronic Arts in a research note on Thursday, May 11th. Zacks Investment Research raised shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research report on Tuesday, August 1st. Wedbush reissued a “buy” rating on shares of Electronic Arts in a research report on Friday, July 28th. KeyCorp reissued a “buy” rating on shares of Electronic Arts in a research report on Sunday, July 30th. Finally, Piper Jaffray Companies dropped their price objective on shares of Electronic Arts from $119.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 10th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Electronic Arts has an average rating of “Buy” and a consensus price target of $115.19.

In other Electronic Arts news, EVP Joel Linzner sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $100.34, for a total value of $1,003,400.00. Following the transaction, the executive vice president now directly owns 26,745 shares of the company’s stock, valued at $2,683,593.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Denise Warren sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $108.84, for a total value of $108,840.00. Following the completion of the transaction, the director now directly owns 13,665 shares in the company, valued at $1,487,298.60. The disclosure for this sale can be found here. Insiders have sold 336,915 shares of company stock valued at $37,032,377 over the last 90 days. Corporate insiders own 2.55% of the company’s stock.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.

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

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