Redwood Investments LLC Raises Stake in Electronic Arts Inc. (EA)
Redwood Investments LLC boosted its stake in Electronic Arts Inc. (NASDAQ:EA) by 3.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 212,269 shares of the game software company’s stock after buying an additional 7,826 shares during the period. Electronic Arts comprises approximately 1.5% of Redwood Investments LLC’s portfolio, making the stock its 28th largest position. Redwood Investments LLC owned 0.07% of Electronic Arts worth $16,081,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of EA. Aperio Group LLC boosted its position in shares of Electronic Arts by 6.9% in the first quarter. Aperio Group LLC now owns 95,456 shares of the game software company’s stock valued at $6,311,000 after buying an additional 6,176 shares in the last quarter. Teachers Advisors Inc. boosted its position in Electronic Arts by 4.8% in the first quarter. Teachers Advisors Inc. now owns 981,042 shares of the game software company’s stock worth $64,857,000 after buying an additional 44,711 shares during the period. Tobam boosted its position in Electronic Arts by 329.6% in the first quarter. Tobam now owns 695,525 shares of the game software company’s stock worth $45,982,000 after buying an additional 533,622 shares during the period. Sentry Investment Management LLC boosted its position in Electronic Arts by 4.7% in the first quarter. Sentry Investment Management LLC now owns 23,832 shares of the game software company’s stock worth $1,576,000 after buying an additional 1,070 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new position in Electronic Arts during the first quarter worth $16,129,000.
Shares of Electronic Arts Inc. (NASDAQ:EA) traded up 0.01% during mid-day trading on Monday, hitting $85.41. The stock had a trading volume of 2,047,917 shares. The firm has a 50 day moving average of $82.10 and a 200 day moving average of $74.33. The stock has a market cap of $25.69 billion, a price-to-earnings ratio of 24.06 and a beta of 0.63. Electronic Arts Inc. has a one year low of $53.01 and a one year high of $86.05.
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 the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The firm had revenue of $682 million for 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 business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. On average, analysts forecast that Electronic Arts Inc. will post $3.64 earnings per share for the current year.
A number of equities research analysts have recently commented on EA shares. Jefferies Group reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Electronic Arts in a research report on Monday, June 13th. Bank of America Corp. reaffirmed a “buy” rating on shares of Electronic Arts in a research report on Monday, June 13th. BMO Capital Markets reaffirmed a “hold” rating on shares of Electronic Arts in a research report on Thursday, June 16th. Vetr raised Electronic Arts from a “sell” rating to a “buy” rating and set a $80.46 price objective for the company in a research report on Wednesday, June 22nd. Finally, Zacks Investment Research downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $88.59.
In other news, CEO Andrew Wilson sold 8,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $76.47, for a total value of $611,760.00. Following the sale, the chief executive officer now directly owns 248,581 shares of the company’s stock, valued at $19,008,989.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Blake J. Jorgensen sold 10,100 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $76.44, for a total value of $772,044.00. Following the completion of the sale, the chief financial officer now directly owns 109,700 shares in the company, valued at $8,385,468. The disclosure for this sale can be found here. 3.46% of the stock is owned by insiders.
About Electronic Arts
Electronic Arts Inc is a game software content and services provider. The Company develops, markets, publishes and distributes game software content for consumers of various video game machines and electronic devices. It also provides game software-related services. The Company’s brands include Battlefield, Mass Effect, Need for Speed, Dragon Age, The Sims, Bejeweled and Plants v.
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