Electronic Arts Inc. (NASDAQ:EA) Shares Bought by Summit X LLC

Summit X LLC raised its stake in Electronic Arts Inc. (NASDAQ:EA) by 62.9% in the third quarter, HoldingsChannel.com reports. The fund owned 3,490 shares of the game software company’s stock after buying an additional 1,348 shares during the quarter. 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 also recently modified their holdings of the business. Patten & Patten Inc. TN boosted its position in shares of Electronic Arts by 9.4% during the third quarter. Patten & Patten Inc. TN now owns 15,787 shares of the game software company’s stock worth $1,544,000 after buying an additional 1,350 shares during the period. Triangle Securities Wealth Management boosted its position in shares of Electronic Arts by 5.3% during the third quarter. Triangle Securities Wealth Management now owns 7,750 shares of the game software company’s stock worth $758,000 after buying an additional 390 shares during the period. NuWave Investment Management LLC boosted its position in shares of Electronic Arts by 122.2% during the third quarter. NuWave Investment Management LLC now owns 1,382 shares of the game software company’s stock worth $129,000 after buying an additional 760 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Electronic Arts by 637.3% during the third quarter. Gateway Investment Advisers LLC now owns 96,266 shares of the game software company’s stock worth $9,417,000 after buying an additional 83,210 shares during the period. Finally, Valeo Financial Advisors LLC boosted its position in shares of Electronic Arts by 281.5% during the third quarter. Valeo Financial Advisors LLC now owns 1,049 shares of the game software company’s stock worth $102,000 after buying an additional 774 shares during the period. Institutional investors own 92.54% of the company’s stock.

Shares of NASDAQ EA traded up $0.90 during trading on Wednesday, hitting $96.05. The company had a trading volume of 1,570,351 shares, compared to its average volume of 2,591,895. The company has a market cap of $27.76 billion, a P/E ratio of 24.44, a PEG ratio of 4.36 and a beta of 0.95. Electronic Arts Inc. has a 52 week low of $73.91 and a 52 week high of $109.36. The business’s 50-day moving average is $95.47 and its 200 day moving average is $94.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.52 and a current ratio of 3.52.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, July 30th. The game software company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.10). The company had revenue of $743.00 million during the quarter, compared to the consensus estimate of $724.55 million. Electronic Arts had a net margin of 42.75% and a return on equity of 19.63%. On average, research analysts expect that Electronic Arts Inc. will post 3.73 EPS for the current year.

In other Electronic Arts news, CFO Blake J. Jorgensen sold 5,200 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $92.85, for a total transaction of $482,820.00. Following the sale, the chief financial officer now directly owns 93,875 shares of the company’s stock, valued at approximately $8,716,293.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Wilson sold 9,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $95.07, for a total transaction of $855,630.00. The disclosure for this sale can be found here. Insiders sold 58,774 shares of company stock worth $5,609,608 in the last ninety days. 2.18% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on the company. KeyCorp assumed coverage on Electronic Arts in a research report on Monday, July 29th. They set a “sector weight” rating for the company. Zacks Investment Research upgraded Electronic Arts from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Friday, August 2nd. Stephens reiterated a “buy” rating on shares of Electronic Arts in a research report on Wednesday, August 21st. Stifel Nicolaus boosted their price objective on Electronic Arts from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, BidaskClub downgraded Electronic Arts from a “hold” rating to a “sell” rating in a research report on Saturday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have assigned a buy rating to the company. Electronic Arts has a consensus rating of “Buy” and a consensus target price of $110.64.

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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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