Electronic Arts Inc. (EA) Stake Boosted by Vision Capital Management Inc.
Vision Capital Management Inc. boosted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,225 shares of the game software company’s stock after buying an additional 2,125 shares during the period. Vision Capital Management Inc.’s holdings in Electronic Arts were worth $2,706,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in EA. Bessemer Group Inc. raised its position in Electronic Arts by 3,410.0% in the fourth quarter. Bessemer Group Inc. now owns 1,404 shares of the game software company’s stock valued at $111,000 after buying an additional 1,364 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Electronic Arts during the fourth quarter valued at about $118,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Electronic Arts by 270.5% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,630 shares of the game software company’s stock valued at $139,000 after buying an additional 1,190 shares during the period. Tuttle Tactical Management LLC bought a new position in Electronic Arts during the third quarter valued at about $153,000. Finally, Commerce Bank bought a new position in Electronic Arts during the first quarter valued at about $203,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.
Shares of Electronic Arts Inc. (NASDAQ:EA) traded down 0.02% on Friday, hitting $110.51. The stock had a trading volume of 9,608,229 shares. Electronic Arts Inc. has a one year low of $71.01 and a one year high of $116.04. The company has a market cap of $34.26 billion, a price-to-earnings ratio of 35.88 and a beta of 0.59. The firm’s 50-day moving average is $107.35 and its 200-day moving average is $90.48.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, May 9th. The game software company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Electronic Arts had a return on equity of 27.60% and a net margin of 19.96%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.50 EPS. Electronic Arts’s quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts expect that Electronic Arts Inc. will post $4.22 EPS for the current fiscal year.
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EA has been the topic of several analyst reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $99.00 target price on shares of Electronic Arts in a research note on Monday, May 1st. Vetr upgraded Electronic Arts from a “strong sell” rating to a “buy” rating and set a $94.20 target price on the stock in a research note on Wednesday, April 12th. Jefferies Group LLC reiterated a “buy” rating and issued a $110.00 target price on shares of Electronic Arts in a research note on Monday, April 10th. MKM Partners restated a “buy” rating and set a $109.00 price target (up previously from $95.00) on shares of Electronic Arts in a research note on Friday, May 5th. Finally, Mizuho set a $115.00 price target on Electronic Arts and gave the stock a “buy” rating in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $103.50.
In related news, Director Denise Warren sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $108.84, for a total value of $108,840.00. Following the transaction, the director now owns 13,665 shares in the company, valued at $1,487,298.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jacob J. Schatz sold 2,200 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $88.80, for a total value of $195,360.00. Following the completion of the transaction, the senior vice president now owns 20,980 shares in the company, valued at approximately $1,863,024. The disclosure for this sale can be found here. Insiders sold 302,828 shares of company stock valued at $30,528,653 in the last ninety days. Company insiders own 3.46% of the company’s stock.
Electronic Arts Company Profile
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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