Nicholas Investment Partners LP Takes Position in Electronic Arts Inc. (EA)

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.

ILLEGAL ACTIVITY WARNING: “Nicholas Investment Partners LP Takes Position in Electronic Arts Inc. (EA)” was originally published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of United States and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.chaffeybreeze.com/2017/09/20/nicholas-investment-partners-lp-takes-position-in-electronic-arts-inc-ea.html.

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.

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

Receive News & Ratings for Electronic Arts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply