Vontobel Asset Management Inc. increased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 84.9% during the second quarter, HoldingsChannel reports. The firm owned 498,926 shares of the game software company’s stock after buying an additional 229,024 shares during the period. Vontobel Asset Management Inc.’s holdings in Electronic Arts were worth $50,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. FMR LLC increased its position in Electronic Arts by 10.8% during the first quarter. FMR LLC now owns 16,439,841 shares of the game software company’s stock valued at $1,670,780,000 after acquiring an additional 1,598,653 shares during the last quarter. Marshall Wace North America L.P. increased its position in Electronic Arts by 1,091.0% during the first quarter. Marshall Wace North America L.P. now owns 1,263,601 shares of the game software company’s stock valued at $128,421,000 after acquiring an additional 1,157,504 shares during the last quarter. Independent Franchise Partners LLP increased its position in Electronic Arts by 35.4% during the second quarter. Independent Franchise Partners LLP now owns 3,421,561 shares of the game software company’s stock valued at $346,467,000 after acquiring an additional 894,736 shares during the last quarter. Wells Fargo & Company MN increased its position in Electronic Arts by 72.9% during the first quarter. Wells Fargo & Company MN now owns 1,748,806 shares of the game software company’s stock valued at $177,732,000 after acquiring an additional 737,527 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in Electronic Arts by 71.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,469,320 shares of the game software company’s stock valued at $149,328,000 after acquiring an additional 614,455 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.
EA traded up $0.62 during midday trading on Monday, reaching $99.10. The company had a trading volume of 153,825 shares, compared to its average volume of 3,030,036. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.15. Electronic Arts Inc. has a 1 year low of $73.91 and a 1 year high of $121.30. The business has a 50-day moving average of $93.02 and a two-hundred day moving average of $95.10. The company has a market cap of $28.98 billion, a P/E ratio of 25.22, a P/E/G ratio of 2.21 and a beta of 0.97.
Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, July 30th. The game software company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.10). Electronic Arts had a return on equity of 19.63% and a net margin of 42.75%. The business had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $724.55 million. On average, equities research analysts predict that Electronic Arts Inc. will post 3.74 EPS for the current year.
In related news, General Counsel Jacob J. Schatz sold 2,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the sale, the general counsel now owns 15,747 shares in the company, valued at $1,574,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 29,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.10, for a total value of $2,931,900.00. Following the sale, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $2,022,000. The disclosure for this sale can be found here. Insiders have sold 95,074 shares of company stock valued at $9,331,897 in the last quarter. 2.18% of the stock is currently owned by company insiders.
EA has been the subject of a number of research reports. Atlantic Securities upgraded Electronic Arts from a “neutral” rating to an “overweight” rating in a research report on Wednesday, August 7th. Stifel Nicolaus upped their price objective on Electronic Arts from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BidaskClub upgraded Electronic Arts from a “sell” rating to a “hold” rating in a research report on Friday, August 23rd. Bank of America upped their price objective on Electronic Arts from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $130.00 price target (up previously from $116.00) on shares of Electronic Arts in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Electronic Arts has an average rating of “Buy” and a consensus target price of $110.64.
About Electronic Arts
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.
Further Reading: Relative Strength Index
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