Copper Rock Capital Partners LLC raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 31.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,823 shares of the game software company’s stock after buying an additional 2,098 shares during the period. Copper Rock Capital Partners LLC’s holdings in Electronic Arts were worth $743,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in EA. Archford Capital Strategies LLC increased its position in shares of Electronic Arts by 1,407.3% in the second quarter. Archford Capital Strategies LLC now owns 1,447 shares of the game software company’s stock worth $110,000 after buying an additional 1,351 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Electronic Arts during the second quarter worth about $168,000. SSI Investment Management Inc. acquired a new position in shares of Electronic Arts during the second quarter worth about $200,000. Stratos Wealth Partners LTD. acquired a new position in shares of Electronic Arts during the second quarter worth about $202,000. Finally, Wetherby Asset Management Inc. acquired a new position in shares of Electronic Arts during the second quarter worth about $239,000.
Shares of Electronic Arts Inc. (NASDAQ:EA) opened at 83.81 on Friday. The company has a market capitalization of $25.21 billion, a price-to-earnings ratio of 23.61 and a beta of 0.63. Electronic Arts Inc. has a 12 month low of $53.01 and a 12 month high of $86.07. The stock has a 50 day moving average price of $82.93 and a 200-day moving average price of $75.04.
Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, August 2nd. The game software company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.09. The company had revenue of $682 million for the quarter, compared to the consensus estimate of $652.64 million. Electronic Arts had a return on equity of 24.97% and a net margin of 25.85%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. Analysts expect that Electronic Arts Inc. will post $3.64 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the company. Vetr upgraded Electronic Arts from a “sell” rating to a “buy” rating and set a $80.46 price target for the company in a research note on Wednesday, June 22nd. MKM Partners increased their price target on Electronic Arts from $87.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Cowen and Company restated an “outperform” rating and issued a $83.00 target price on shares of Electronic Arts in a research note on Tuesday, August 23rd. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $88.00 target price on shares of Electronic Arts in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Electronic Arts currently has a consensus rating of “Buy” and a consensus target price of $88.59.
In other Electronic Arts news, EVP Joel Linzner sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $85.34, for a total transaction of $682,720.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $85.03, for a total value of $4,251,500.00. Following the sale, the chief executive officer now owns 290,581 shares in the company, valued at $24,708,102.43. The disclosure for this sale can be found here. 3.46% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (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.