Newbrook Capital Advisors LP Acquires 187,387 Shares of Electronic Arts Inc. (EA)
Newbrook Capital Advisors LP lifted its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 97.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,040 shares of the game software company’s stock after buying an additional 187,387 shares during the quarter. Electronic Arts comprises 3.2% of Newbrook Capital Advisors LP’s investment portfolio, making the stock its 14th biggest position. Newbrook Capital Advisors LP owned about 0.12% of Electronic Arts worth $40,178,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in EA. Guardian Life Insurance Co. of America lifted its stake in Electronic Arts by 2.9% in the 1st 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 in the last quarter. Invictus RG lifted its stake in Electronic Arts by 722.0% in the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after purchasing an additional 1,148 shares in the last quarter. D. Scott Neal Inc. purchased a new stake in Electronic Arts in the 2nd quarter worth approximately $120,000. Captrust Financial Advisors purchased a new stake in Electronic Arts in the 2nd quarter worth approximately $195,000. Finally, Two Sigma Securities LLC purchased a new stake in Electronic Arts in the 1st quarter worth approximately $205,000. Institutional investors own 93.84% of the company’s stock.
Shares of Electronic Arts Inc. (NASDAQ:EA) traded up 0.322% during midday trading on Friday, reaching $119.905. 829,715 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $118.43 and its 200-day moving average is $108.23. 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 $37.02 billion, a PE ratio of 32.103 and a beta of 0.69.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the Zacks’ 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 $775.00 million for the quarter, compared to analysts’ expectations of $768.47 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. The business’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts expect that Electronic Arts Inc. will post $4.25 EPS for the current year.
In other news, SVP Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $120.77, for a total value of $120,770.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joel Linzner sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $116.96, for a total transaction of $467,840.00. Following the completion of the transaction, the executive vice president now owns 18,089 shares in the company, valued at $2,115,689.44. The disclosure for this sale can be found here. Insiders have sold 197,096 shares of company stock worth $23,386,136 in the last quarter. Company insiders own 2.55% of the company’s stock.
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Several analysts have issued reports on EA shares. Vetr upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 target price on the stock in a research note on Tuesday, July 4th. BidaskClub cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Benchmark Co. increased their target price on shares of Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) started coverage on shares of Electronic Arts in a research note on Friday, September 8th. They issued a “buy” rating and a $136.00 target price on the stock. Finally, Cowen and Company reiterated a “hold” rating and issued a $106.00 target price on shares of Electronic Arts in a research note on Friday, September 8th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $120.93.
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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