Gilder Gagnon Howe & Co. LLC Decreases Position in Electronic Arts Inc. (EA)
Gilder Gagnon Howe & Co. LLC reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 597,137 shares of the game software company’s stock after selling 27,622 shares during the period. Gilder Gagnon Howe & Co. LLC owned 0.20% of Electronic Arts worth $45,239,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EA. Menta Capital LLC bought a new position in Electronic Arts during the first quarter valued at approximately $450,000. Aviva PLC raised its stake in shares of Electronic Arts by 0.4% in the first quarter. Aviva PLC now owns 191,904 shares of the game software company’s stock worth $12,687,000 after buying an additional 786 shares during the last quarter. BB&T Securities LLC acquired a new stake in shares of Electronic Arts during the first quarter worth about $406,000. Pegasus Partners Ltd. acquired a new stake in shares of Electronic Arts during the first quarter worth about $637,000. Finally, Riverhead Capital Management LLC raised its stake in shares of Electronic Arts by 478.4% in the first quarter. Riverhead Capital Management LLC now owns 307,111 shares of the game software company’s stock worth $20,304,000 after buying an additional 254,017 shares during the last quarter.
Shares of Electronic Arts Inc. (NASDAQ:EA) traded down 1.30% during mid-day trading on Wednesday, reaching $82.92. 1,001,593 shares of the company’s stock traded hands. The firm has a market cap of $24.94 billion, a price-to-earnings ratio of 23.36 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. The company’s 50 day moving average is $83.15 and its 200-day moving average is $75.94.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, August 2nd. The game software company reported $0.07 earnings per share 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 analysts’ expectations of $652.64 million. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. Equities analysts expect that Electronic Arts Inc. will post $3.64 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on EA shares. Vetr raised Electronic Arts from a “sell” rating to a “buy” rating and set a $80.46 target price on the stock in a research report on Wednesday, June 22nd. MKM Partners lifted 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. Jefferies Group reiterated a “buy” rating on shares of Electronic Arts in a research note on Monday, August 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 price target on shares of Electronic Arts in a research note on Tuesday, July 12th. Finally, Mizuho reiterated a “buy” rating and issued a $84.00 price target on shares of Electronic Arts in a research note on Wednesday, August 3rd. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Electronic Arts currently has an average rating of “Buy” and an average price target of $89.02.
In other news, EVP Laura Miele sold 2,600 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew Wilson sold 8,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $76.47, for a total transaction of $611,760.00. Following the sale, the chief executive officer now directly owns 248,581 shares in the company, valued at $19,008,989.07. The disclosure for this sale can be found here. Company 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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