Jasper Ridge Partners L.P. Increases Stake in Electronic Arts Inc. (EA)
Jasper Ridge Partners L.P. grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 21.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,896 shares of the game software company’s stock after purchasing an additional 2,459 shares during the period. Jasper Ridge Partners L.P.’s holdings in Electronic Arts were worth $1,469,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Life Insurance Co. of America increased its position in shares of Electronic Arts by 2.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock worth $107,000 after acquiring an additional 34 shares in the last quarter. Invictus RG increased its position in shares of Electronic Arts by 722.0% during the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after acquiring an additional 1,148 shares in the last quarter. D. Scott Neal Inc. bought a new stake in shares of Electronic Arts during the second quarter worth about $120,000. Commerce Bank bought a new stake in shares of Electronic Arts during the first quarter worth about $203,000. Finally, Intrust Bank NA bought a new stake in shares of Electronic Arts during the first quarter worth about $204,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.
Several equities research analysts have recently commented on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Electronic Arts in a research report on Friday. They set a “buy” rating and a $136.00 target price for the company. Cowen and Company reissued a “hold” rating and set a $106.00 target price on shares of Electronic Arts in a research report on Friday. BidaskClub raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Jefferies Group LLC reissued a “buy” rating and set a $135.00 target price on shares of Electronic Arts in a research report on Thursday, August 31st. Finally, KeyCorp reissued a “buy” rating and set a $134.00 target price on shares of Electronic Arts in a research report on Friday, August 25th. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $116.77.
Shares of Electronic Arts Inc. (NASDAQ EA) traded up 1.39% during mid-day trading on Monday, hitting $119.92. 662,785 shares of the company were exchanged. The company has a market capitalization of $37.02 billion, a P/E ratio of 32.11 and a beta of 0.68. The company has a 50 day moving average of $117.53 and a 200 day moving average of $104.40. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $122.79.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The business had revenue of $775 million for the quarter, compared to the consensus estimate of $768.47 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current year.
In other Electronic Arts news, CEO Andrew Wilson sold 100,000 shares of Electronic Arts stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $111.31, for a total transaction of $11,131,000.00. Following the transaction, the chief executive officer now owns 100,000 shares of the company’s stock, valued at $11,131,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake J. Jorgensen sold 10,000 shares of Electronic Arts stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $107.90, for a total transaction of $1,079,000.00. Following the transaction, the chief financial officer now directly owns 229,614 shares in the company, valued at approximately $24,775,350.60. The disclosure for this sale can be found here. Insiders have sold 345,097 shares of company stock worth $39,623,978 in the last ninety days. Insiders own 2.55% of the company’s stock.
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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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