Gotham Asset Management LLC Acquires Shares of 176,655 Electronic Arts Inc. (EA)
Gotham Asset Management LLC acquired a new position in Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 176,655 shares of the game software company’s stock, valued at approximately $18,676,000. Gotham Asset Management LLC owned 0.06% of Electronic Arts at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Guardian Life Insurance Co. of America boosted its holdings in Electronic Arts by 2.9% in 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 purchasing an additional 34 shares during the period. Invictus RG boosted its holdings 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 valued at $117,000 after acquiring an additional 1,148 shares during the period. D. Scott Neal Inc. acquired a new position in shares of Electronic Arts during the second quarter valued at $120,000. Captrust Financial Advisors acquired a new position in shares of Electronic Arts during the second quarter valued at $195,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Electronic Arts during the first quarter valued at $205,000. 93.84% of the stock is owned by hedge funds and other institutional investors.
In other Electronic Arts news, CEO Andrew Wilson sold 10,058 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $117.00, for a total value of $1,176,786.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence F. Probst III sold 55,850 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $121.18, for a total value of $6,767,903.00. Following the completion of the transaction, the director now directly owns 171,123 shares in the company, valued at approximately $20,736,685.14. The disclosure for this sale can be found here. Insiders sold 197,096 shares of company stock worth $23,386,136 in the last three months. Insiders own 2.55% of the company’s stock.
Shares of Electronic Arts Inc. (NASDAQ EA) traded up 0.03% during trading on Friday, reaching $119.56. The company had a trading volume of 498,576 shares. The firm has a market capitalization of $36.91 billion, a P/E ratio of 32.01 and a beta of 0.69. The company has a 50 day moving average of $118.43 and a 200-day moving average of $108.23. Electronic Arts Inc. has a 52-week low of $73.74 and a 52-week high of $122.79.
Electronic Arts (NASDAQ:EA) last released its 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 return on equity of 29.77% and a net margin of 23.31%. The firm had revenue of $775.00 million for the quarter, compared to analyst estimates of $768.47 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. Equities analysts expect that Electronic Arts Inc. will post $4.25 earnings per share for the current year.
Several equities analysts have recently issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and set a $135.00 price target on shares of Electronic Arts in a report on Thursday, August 31st. BidaskClub raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Benchmark Co. boosted their price target on shares of Electronic Arts from $136.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. Buckingham Research assumed coverage on shares of Electronic Arts in a report on Wednesday, September 20th. They set a “buy” rating and a $143.00 price target for the company. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Electronic Arts in a report on Friday, September 8th. They set a “buy” rating and a $136.00 price target for the company. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $119.43.
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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