P Schoenfeld Asset Management LP Buys Shares of 54,580 Electronic Arts Inc. $EA

P Schoenfeld Asset Management LP bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 54,580 shares of the game software company’s stock, valued at approximately $11,191,083,000. Electronic Arts comprises 4.6% of P Schoenfeld Asset Management LP’s portfolio, making the stock its 6th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of EA. Ascentis Independent Advisors purchased a new stake in Electronic Arts in the 1st quarter valued at approximately $27,000. Torren Management LLC grew its holdings in Electronic Arts by 235.0% during the 2nd quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after buying an additional 94 shares during the last quarter. MV Capital Management Inc. purchased a new position in Electronic Arts during the fourth quarter worth $28,000. Meeder Asset Management Inc. purchased a new position in Electronic Arts during the second quarter worth $31,000. Finally, Asset Planning Inc acquired a new position in shares of Electronic Arts in the first quarter worth $32,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the completion of the transaction, the chief executive officer owned 80,974 shares of the company’s stock, valued at approximately $16,447,438.88. This represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.10, for a total transaction of $507,750.00. Following the transaction, the insider directly owned 73,513 shares in the company, valued at approximately $14,930,490.30. This represents a 3.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 8,700 shares of company stock valued at $1,766,950. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the topic of a number of analyst reports. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Citigroup boosted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Electronic Arts presently has an average rating of “Reduce” and an average target price of $206.50.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $209.70 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.21. The firm has a market cap of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The stock’s 50-day moving average price is $207.27 and its two-hundred day moving average price is $203.56. Electronic Arts Inc. has a 12-month low of $159.10 and a 12-month high of $210.20.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Monday, August 3rd. The game software company reported $1.58 EPS for the quarter. The company had revenue of $1.99 billion during the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.