Electronic Arts Inc. (EA) Shares Bought by Sciencast Management LP
Sciencast Management LP increased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 281.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,573 shares of the game software company’s stock after purchasing an additional 8,536 shares during the period. Electronic Arts makes up approximately 0.7% of Sciencast Management LP’s investment portfolio, making the stock its 20th largest position. Sciencast Management LP’s holdings in Electronic Arts were worth $1,223,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. BlueCrest Capital Management Ltd acquired a new stake in Electronic Arts during the 2nd quarter worth approximately $5,178,000. Maverick Capital Ltd. lifted its holdings in Electronic Arts by 11.1% during the 2nd quarter. Maverick Capital Ltd. now owns 36,020 shares of the game software company’s stock worth $3,808,000 after buying an additional 3,600 shares in the last quarter. Sensato Investors LLC acquired a new stake in Electronic Arts during the 2nd quarter worth approximately $13,469,000. Gotham Asset Management LLC acquired a new stake in Electronic Arts during the 2nd quarter worth approximately $18,676,000. Finally, ETF Managers Group LLC acquired a new stake in Electronic Arts during the 2nd quarter worth approximately $1,044,000. 93.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Electronic Arts Inc. (EA) traded up 0.53% during mid-day trading on Friday, hitting $120.15. 766,852 shares of the stock traded hands. Electronic Arts Inc. has a 12-month low of $73.74 and a 12-month high of $122.79. The stock has a market cap of $37.09 billion, a P/E ratio of 32.17 and a beta of 0.69. The firm’s 50 day moving average price is $118.43 and its 200-day moving average price is $108.23.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.14 by $0.22. The business had revenue of $775.00 million during the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Analysts predict that Electronic Arts Inc. will post $4.25 earnings per share for the current year.
In other news, CFO Blake J. Jorgensen sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $111.01, for a total transaction of $1,110,100.00. Following the completion of the transaction, the chief financial officer now owns 219,614 shares in the company, valued at $24,379,350.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Bruzzo sold 1,500 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $118.10, for a total transaction of $177,150.00. The disclosure for this sale can be found here. Insiders have sold 197,096 shares of company stock valued at $23,386,136 in the last 90 days. Insiders own 2.55% of the company’s stock.
EA has been the topic of a number of analyst reports. BidaskClub upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. KeyCorp restated a “buy” rating on shares of Electronic Arts in a report on Sunday, July 30th. Cowen and Company restated a “market perform” rating and issued a $106.00 price objective (up from $90.00) on shares of Electronic Arts in a report on Sunday, July 30th. Vetr upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 price objective on the stock in a report on Tuesday, July 4th. Finally, Benchmark Co. raised their price objective on shares of Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a report on Tuesday, June 20th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $119.43.
Electronic Arts 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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