LMR Partners LLP increased its stake in Electronic Arts Inc. (NASDAQ:EA) by 71.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,006 shares of the game software company’s stock after buying an additional 7,916 shares during the period. LMR Partners LLP’s holdings in Electronic Arts were worth $1,440,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the company. Jackson Square Partners LLC increased 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 worth $885,415,000 after buying an additional 1,509,427 shares during the last quarter. Wellington Management Group LLP increased 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 worth $120,793,000 after buying an additional 1,036,789 shares during the last quarter. Newbrook Capital Advisors LP acquired a new position in Electronic Arts during the first quarter worth approximately $47,111,000. Sensato Investors LLC acquired a new position in Electronic Arts during the first quarter worth approximately $22,861,000. Finally, Omega Advisors Inc. acquired a new position in Electronic Arts during the first quarter worth approximately $20,759,000.
Electronic Arts Inc. (NASDAQ:EA) traded down 0.91% during mid-day trading on Friday, reaching $83.81. 3,076,807 shares of the company’s stock traded hands. Electronic Arts Inc. has a 12 month low of $53.01 and a 12 month high of $86.07. The stock has a market cap of $25.21 billion, a P/E ratio of 23.61 and a beta of 0.63. The company has a 50 day moving average price of $82.85 and a 200-day moving average price of $74.90.
Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, August 2nd. The game software company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. The business earned $682 million during the quarter, compared to the consensus estimate of $652.64 million. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, analysts anticipate that Electronic Arts Inc. will post $3.64 EPS for the current year.
Several equities analysts recently issued reports on EA shares. Jefferies Group reissued a “buy” rating and set a $105.00 price target on shares of Electronic Arts in a report on Monday, June 13th. Bank of America Corp. reissued a “buy” rating on shares of Electronic Arts in a report on Monday, June 13th. BMO Capital Markets reissued a “hold” rating on shares of Electronic Arts in a report on Thursday, June 16th. Vetr raised shares of Electronic Arts from a “sell” rating to a “buy” rating and set a $80.46 price target for the company in a report on Wednesday, June 22nd. Finally, Zacks Investment Research downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Electronic Arts currently has a consensus rating of “Buy” and an average target price of $88.59.
In other news, EVP Laura Miele sold 2,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $82.21, for a total transaction of $213,746.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gabrielle B. Toledano sold 15,000 shares of Electronic Arts stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the completion of the sale, the executive vice president now directly owns 66,458 shares of the company’s stock, valued at approximately $5,207,648.88. The disclosure for this sale can be found here. Insiders own 3.46% 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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