PNC Financial Services Group Inc. cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 8.6% during the first quarter, Holdings Channel reports. The fund owned 38,872 shares of the game software company’s stock after selling 3,643 shares during the period. PNC Financial Services Group Inc.’s holdings in Electronic Arts were worth $3,478,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its stake in Electronic Arts by 3,410.0% in the fourth quarter. Bessemer Group Inc. now owns 1,404 shares of the game software company’s stock valued at $111,000 after buying an additional 1,364 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Electronic Arts during the fourth quarter valued at approximately $118,000. Commerce Bank bought a new stake in Electronic Arts during the first quarter valued at approximately $203,000. Intrust Bank NA bought a new stake in Electronic Arts during the first quarter valued at approximately $204,000. Finally, IFC Holdings Incorporated FL acquired a new position in Electronic Arts during the first quarter valued at about $217,000. 98.35% of the stock is owned by institutional investors and hedge funds.

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

Shares of Electronic Arts Inc. (NASDAQ EA) traded down 0.02% on Friday, reaching $110.51. The company’s stock had a trading volume of 9,608,229 shares. Electronic Arts Inc. has a 52-week low of $71.01 and a 52-week high of $116.04. The company has a market cap of $34.26 billion, a PE ratio of 35.88 and a beta of 0.59. The firm has a 50 day moving average of $107.35 and a 200 day moving average of $90.48.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, May 9th. The game software company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.03. Electronic Arts had a return on equity of 27.60% and a net margin of 19.96%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts predict that Electronic Arts Inc. will post $4.22 earnings per share for the current year.

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A number of research firms have recently commented on EA. Credit Suisse Group restated a “buy” rating and issued a $114.00 price objective on shares of Electronic Arts in a report on Sunday, May 28th. Vetr upgraded Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price objective on the stock in a report on Monday, May 8th. Robert W. Baird reiterated an “outperform” rating on shares of Electronic Arts in a research report on Thursday, May 11th. Zacks Investment Research upgraded Electronic Arts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $99.00 target price on shares of Electronic Arts in a research report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. Electronic Arts has a consensus rating of “Buy” and a consensus target price of $103.50.

In related news, Director Denise Warren sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $108.84, for a total value of $108,840.00. Following the transaction, the director now owns 13,665 shares in the company, valued at approximately $1,487,298.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Wilson sold 8,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $89.32, for a total transaction of $714,560.00. The disclosure for this sale can be found here. Insiders have sold 302,828 shares of company stock worth $30,528,653 in the last quarter. Company insiders own 3.46% 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.

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