Bridgewater Associates LP raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 123.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,287 shares of the game software company’s stock after buying an additional 8,452 shares during the quarter. Bridgewater Associates LP’s holdings in Electronic Arts were worth $1,616,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in EA. Strs Ohio lifted its position in Electronic Arts by 3.3% during the first quarter. Strs Ohio now owns 12,070 shares of the game software company’s stock valued at $1,080,000 after buying an additional 381 shares during the period. Meadow Creek Investment Management LLC lifted its position in Electronic Arts by 17.3% during the first quarter. Meadow Creek Investment Management LLC now owns 4,336 shares of the game software company’s stock valued at $388,000 after buying an additional 640 shares during the period. Commerce Bank purchased a new position in Electronic Arts during the first quarter valued at $203,000. Toronto Dominion Bank lifted its position in Electronic Arts by 59.8% during the first quarter. Toronto Dominion Bank now owns 83,115 shares of the game software company’s stock valued at $7,439,000 after buying an additional 31,087 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its position in Electronic Arts by 8.2% during the first quarter. Virginia Retirement Systems ET AL now owns 246,000 shares of the game software company’s stock valued at $22,022,000 after buying an additional 18,700 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.
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Several equities analysts have commented on the company. BidaskClub raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. KeyCorp reissued a “buy” rating on shares of Electronic Arts in a research report on Sunday, July 30th. Cowen and Company reissued a “market perform” rating and set a $106.00 price objective (up previously from $90.00) on shares of Electronic Arts in a research report on Sunday, July 30th. Vetr lowered Electronic Arts from a “buy” rating to a “hold” rating and set a $109.98 price objective for the company. in a research report on Monday, May 22nd. Finally, Morgan Stanley raised their price objective on Electronic Arts from $114.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, June 7th. Four investment 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 stock. Electronic Arts currently has an average rating of “Buy” and a consensus target price of $117.01.
Shares of Electronic Arts Inc. (NASDAQ EA) opened at 119.42 on Friday. Electronic Arts Inc. has a 1-year low of $73.74 and a 1-year high of $122.79. The firm’s 50 day moving average price is $118.08 and its 200-day moving average price is $105.34. The company has a market capitalization of $36.87 billion, a P/E ratio of 31.97 and a beta of 0.68.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.22. The business had revenue of $775.00 million for the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 earnings per share. Analysts expect that Electronic Arts Inc. will post $4.24 EPS for the current year.
In related news, CEO Andrew Wilson sold 9,059 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $105.91, for a total transaction of $959,438.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lawrence F. Probst III sold 68,072 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $118.83, for a total value of $8,088,995.76. Following the sale, the director now directly owns 176,348 shares in the company, valued at $20,955,432.84. The disclosure for this sale can be found here. Insiders sold 195,097 shares of company stock worth $23,019,378 over the last three months. 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.
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