Nicholas Investment Partners LP purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 31,517 shares of the game software company’s stock, valued at approximately $3,332,000.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Guardian Life Insurance Co. of America increased its position in 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 worth $107,000 after buying an additional 34 shares during the last quarter. Invictus RG increased its position in Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after buying an additional 1,148 shares during the last quarter. D. Scott Neal Inc. purchased a new stake in Electronic Arts in the second quarter worth $120,000. Captrust Financial Advisors purchased a new stake in Electronic Arts in the second quarter worth $195,000. Finally, Commerce Bank purchased a new stake in Electronic Arts in the first quarter worth $203,000. 93.84% of the stock is owned by institutional investors.
Shares of Electronic Arts Inc. (EA) traded up 0.68% on Wednesday, reaching $121.03. The company had a trading volume of 277,241 shares. The stock’s 50 day moving average is $118.23 and its 200 day moving average is $106.08. The firm has a market capitalization of $37.37 billion, a price-to-earnings ratio of 32.40 and a beta of 0.68. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $122.79.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The firm had revenue of $775.00 million during the quarter, compared to the consensus estimate of $768.47 million. During the same quarter last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities analysts anticipate that Electronic Arts Inc. will post $4.24 EPS for the current year.
EA has been the subject of a number of recent research reports. Vetr raised Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 target price for the company in a research report on Tuesday, July 4th. BidaskClub downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Benchmark Co. raised their target price on Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) initiated coverage on Electronic Arts in a research report on Friday, September 8th. They issued a “buy” rating and a $136.00 target price for the company. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Electronic Arts in a research report on Monday, July 17th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $118.01.
In other news, CEO Andrew Wilson sold 9,059 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $105.91, for a total transaction of $959,438.69. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Blake J. Jorgensen sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $117.14, for a total transaction of $1,171,400.00. Following the transaction, the chief financial officer now directly owns 199,614 shares in the company, valued at $23,382,783.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,097 shares of company stock valued at $23,019,378. 2.55% of the stock is owned by insiders.
Electronic Arts 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.
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