M&T Bank Corp Trims Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

M&T Bank Corp cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 9.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 105,216 shares of the game software company’s stock after selling 11,528 shares during the quarter. M&T Bank Corp’s holdings in Electronic Arts were worth $14,395,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in EA. Mercer Global Advisors Inc. ADV raised its holdings in Electronic Arts by 23.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 22,867 shares of the game software company’s stock valued at $2,753,000 after acquiring an additional 4,411 shares in the last quarter. Value Partners Investments Inc. raised its stake in shares of Electronic Arts by 33.5% in the 4th quarter. Value Partners Investments Inc. now owns 429,536 shares of the game software company’s stock valued at $53,761,000 after purchasing an additional 107,709 shares in the last quarter. Metis Global Partners LLC grew its position in shares of Electronic Arts by 14.7% in the 3rd quarter. Metis Global Partners LLC now owns 11,473 shares of the game software company’s stock worth $1,381,000 after acquiring an additional 1,469 shares in the last quarter. Morgan Stanley raised its position in shares of Electronic Arts by 13.0% during the 3rd quarter. Morgan Stanley now owns 3,389,395 shares of the game software company’s stock valued at $408,084,000 after acquiring an additional 389,063 shares in the last quarter. Finally, West Family Investments Inc. acquired a new position in Electronic Arts in the fourth quarter worth $230,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EA shares. Wedbush restated an “outperform” rating and issued a $162.00 price target on shares of Electronic Arts in a research report on Thursday. Benchmark restated a “buy” rating and set a $153.00 price objective on shares of Electronic Arts in a research report on Thursday, April 18th. Stifel Nicolaus increased their target price on Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Roth Mkm lowered their price target on shares of Electronic Arts from $140.00 to $135.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets started coverage on shares of Electronic Arts in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.72.

Electronic Arts Price Performance

NASDAQ:EA traded up $1.06 during mid-day trading on Friday, reaching $129.56. 1,650,180 shares of the stock were exchanged, compared to its average volume of 1,685,682. Electronic Arts Inc. has a 1-year low of $117.47 and a 1-year high of $144.53. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $34.64 billion, a PE ratio of 32.63, a PEG ratio of 1.73 and a beta of 0.78. The business has a fifty day moving average price of $131.99 and a 200 day moving average price of $134.43.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $142.39, for a total value of $355,975.00. Following the transaction, the chief executive officer now owns 28,430 shares of the company’s stock, valued at $4,048,147.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $142.39, for a total transaction of $355,975.00. Following the sale, the chief executive officer now owns 28,430 shares in the company, valued at approximately $4,048,147.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $143.24, for a total transaction of $143,240.00. Following the completion of the transaction, the insider now owns 20,258 shares of the company’s stock, valued at $2,901,755.92. The disclosure for this sale can be found here. Insiders have sold 37,144 shares of company stock valued at $5,087,143 in the last quarter. Insiders own 0.20% of the company’s stock.

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.