ARP Americas LLC acquired a new stake in Electronic Arts Inc. (NASDAQ:EA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,000 shares of the game software company’s stock, valued at approximately $236,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of EA. Renaissance Technologies LLC lifted its stake in Electronic Arts by 928.4% in the second quarter. Renaissance Technologies LLC now owns 2,586,064 shares of the game software company’s stock valued at $273,399,000 after buying an additional 2,334,600 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Electronic Arts in the third quarter valued at approximately $148,789,000. Arrowstreet Capital Limited Partnership lifted its stake in Electronic Arts by 145.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,208,784 shares of the game software company’s stock valued at $127,793,000 after buying an additional 715,862 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Electronic Arts by 65.0% in the second quarter. Janus Henderson Group PLC now owns 1,425,278 shares of the game software company’s stock valued at $150,688,000 after buying an additional 561,322 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Electronic Arts by 103.7% in the second quarter. Parametric Portfolio Associates LLC now owns 1,012,999 shares of the game software company’s stock valued at $107,094,000 after buying an additional 515,608 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.
In other Electronic Arts news, SVP Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $120.77, for a total value of $120,770.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 10,058 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $119.56, for a total value of $1,202,534.48. The disclosure for this sale can be found here. Insiders have sold 190,596 shares of company stock worth $22,661,081 in the last ninety days. 2.55% of the stock is currently owned by corporate insiders.
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A number of brokerages have weighed in on EA. Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Electronic Arts in a research note on Thursday, August 31st. BidaskClub upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Benchmark Co. boosted their price objective on Electronic Arts from $136.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, September 13th. Buckingham Research began coverage on Electronic Arts in a report on Wednesday, September 20th. They issued a “buy” rating and a $143.00 target price on the stock. Finally, Barclays PLC dropped their target price on Electronic Arts from $129.00 to $127.00 and set an “overweight” rating on the stock in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $123.38.
Electronic Arts Inc. (EA) opened at $113.20 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.38 and a quick ratio of 3.01. The firm has a market capitalization of $34.79 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 1.85 and a beta of 0.65.
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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