Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,508 shares of the game software company’s stock after buying an additional 333 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Electronic Arts were worth $1,780,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. Jackson Square Partners LLC raised its position in Electronic Arts by 14.3% in the first quarter. Jackson Square Partners LLC now owns 12,098,912 shares of the game software company’s stock valued at $885,415,000 after buying an additional 1,509,427 shares during the period. Wellington Management Group LLP raised its position in Electronic Arts by 131.2% in the first quarter. Wellington Management Group LLP now owns 1,827,163 shares of the game software company’s stock valued at $120,793,000 after buying an additional 1,036,789 shares during the period. Newbrook Capital Advisors LP bought a new position in Electronic Arts during the first quarter valued at $47,111,000. Sensato Investors LLC bought a new position in Electronic Arts during the first quarter valued at $22,861,000. Finally, Omega Advisors Inc. bought a new position in Electronic Arts during the first quarter valued at $20,759,000.
Electronic Arts Inc. (NASDAQ:EA) traded down 0.33% during trading on Monday, hitting $82.32. The stock had a trading volume of 1,981,449 shares. The company has a 50-day moving average of $83.09 and a 200-day moving average of $75.63. The stock has a market capitalization of $24.76 billion, a P/E ratio of 23.19 and a beta of 0.63. Electronic Arts Inc. has a 52 week low of $53.01 and a 52 week high of $86.07.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, August 2nd. The game software company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.09. The company earned $682 million during 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%. Electronic Arts’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. On average, equities analysts expect that Electronic Arts Inc. will post $3.64 earnings per share for the current fiscal year.
Several research analysts have weighed in on EA shares. Vetr raised Electronic Arts from a “sell” rating to a “buy” rating and set a $80.46 price target on the stock in a research report on Wednesday, June 22nd. Zacks Investment Research lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Jefferies Group reissued a “buy” rating on shares of Electronic Arts in a report on Monday, July 11th. Stifel Nicolaus reissued a “buy” rating and set a $80.00 target price on shares of Electronic Arts in a report on Tuesday, July 12th. Finally, Macquarie reissued an “outperform” rating and set a $80.00 target price on shares of Electronic Arts in a report on Friday, July 22nd. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $89.02.
In other Electronic Arts news, EVP Joel Linzner sold 8,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $85.34, for a total value of $682,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Wilson sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $85.03, for a total value of $4,251,500.00. Following the completion of the sale, the chief executive officer now directly owns 290,581 shares of the company’s stock, valued at $24,708,102.43. The disclosure for this sale can be found here. 3.46% of the stock is owned by company 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.
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