Summit X LLC grew its holdings in Electronic Arts Inc. (NASDAQ:EA) by 62.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,490 shares of the game software company’s stock after purchasing an additional 1,348 shares during the period. Summit X LLC’s holdings in Electronic Arts were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Valeo Financial Advisors LLC bought a new position in shares of Electronic Arts during the 2nd quarter worth $28,000. North Star Investment Management Corp. bought a new position in shares of Electronic Arts during the 3rd quarter worth $28,000. Transamerica Financial Advisors Inc. bought a new position in shares of Electronic Arts during the 2nd quarter worth $40,000. Weaver Consulting Group bought a new position in shares of Electronic Arts during the 1st quarter worth $43,000. Finally, Griffin Asset Management Inc. bought a new position in shares of Electronic Arts during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 92.54% of the company’s stock.
In other news, CEO Andrew Wilson sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $95.07, for a total value of $855,630.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Blake J. Jorgensen sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $92.64, for a total value of $481,728.00. Following the completion of the transaction, the chief financial officer now owns 106,739 shares of the company’s stock, valued at $9,888,300.96. The disclosure for this sale can be found here. In the last three months, insiders sold 58,774 shares of company stock valued at $5,609,608. Corporate insiders own 2.18% of the company’s stock.
NASDAQ EA traded up $0.90 during trading on Wednesday, hitting $96.05. The company’s stock had a trading volume of 1,570,351 shares, compared to its average volume of 2,591,895. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.52 and a quick ratio of 3.52. The company has a market cap of $27.76 billion, a PE ratio of 24.44, a P/E/G ratio of 4.36 and a beta of 0.95. The business’s 50 day simple moving average is $95.47 and its 200-day simple moving average is $94.44. Electronic Arts Inc. has a fifty-two week low of $73.91 and a fifty-two week high of $109.36.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, July 30th. The game software company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The business had revenue of $743.00 million during the quarter, compared to analyst estimates of $724.55 million. Electronic Arts had a return on equity of 19.63% and a net margin of 42.75%. Analysts expect that Electronic Arts Inc. will post 3.73 EPS for the current fiscal year.
Electronic Arts Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.
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