Northwestern Mutual Investment Management Company LLC Reduces Position in Electronic Arts Inc. (EA)

Northwestern Mutual Investment Management Company LLC reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 81.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,508 shares of the game software company’s stock after selling 50,805 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Electronic Arts were worth $872,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EA. Guardian Life Insurance Co. of America raised its position in shares of Electronic Arts by 2.9% during the 1st 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 period. ProVise Management Group LLC raised its position in shares of Electronic Arts by 0.8% during the 2nd quarter. ProVise Management Group LLC now owns 4,324 shares of the game software company’s stock valued at $458,000 after buying an additional 36 shares during the period. Jaffetilchin Investment Partners LLC raised its position in shares of Electronic Arts by 0.9% during the 1st 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 period. San Francisco Sentry Investment Group CA raised its position in shares of Electronic Arts by 1.4% during the 1st 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 period. Finally, NEXT Financial Group Inc raised its position in shares of Electronic Arts by 0.6% during the 2nd 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 period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Several analysts have recently commented on EA shares. Benchmark Co. lifted their price target on shares of Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a research report on Tuesday, June 20th. Credit Suisse Group reaffirmed a “buy” rating and set a $114.00 price target on shares of Electronic Arts in a research report on Sunday, May 28th. Vetr lowered shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $109.98 price target on the stock. in a research report on Monday, May 22nd. KeyCorp reaffirmed a “buy” rating and set a $134.00 price target on shares of Electronic Arts in a research report on Friday, August 25th. Finally, Zacks Investment Research lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $117.01.

Electronic Arts Inc. (EA) traded up 0.24% during trading on Friday, reaching $119.48. 1,193,210 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $118.03 and a 200 day moving average price of $105.11. Electronic Arts Inc. has a 1-year low of $73.74 and a 1-year high of $122.79. The stock has a market capitalization of $36.89 billion, a P/E ratio of 31.99 and a beta of 0.68.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The firm had revenue of $775.00 million for the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. Equities research analysts expect that Electronic Arts Inc. will post $4.24 earnings per share for the current year.

In other news, CFO Blake J. Jorgensen sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $117.14, for a total value of $1,171,400.00. Following the completion of the sale, the chief financial officer now owns 199,614 shares of the company’s stock, valued at approximately $23,382,783.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Bruzzo sold 1,500 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $105.98, for a total transaction of $158,970.00. Following the completion of the sale, the executive vice president now directly owns 33,345 shares of the company’s stock, valued at approximately $3,533,903.10. The disclosure for this sale can be found here. Insiders sold a total of 195,097 shares of company stock valued at $23,019,378 in the last three months. Insiders own 2.55% of the company’s stock.

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Electronic Arts Company Profile

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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