Artemis Investment Management LLP Has $14.86 Million Position in Electronic Arts Inc. (EA)
Artemis Investment Management LLP reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 49.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,518 shares of the game software company’s stock after selling 135,425 shares during the period. Artemis Investment Management LLP’s holdings in Electronic Arts were worth $14,857,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of EA. D. Scott Neal Inc. purchased a new stake in Electronic Arts during the second quarter worth approximately $120,000. Guardian Life Insurance Co. of America increased its position in Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock worth $107,000 after buying an additional 34 shares during the last quarter. Invictus RG increased its position in Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after buying an additional 1,148 shares during the last quarter. Commerce Bank bought a new position in Electronic Arts during the first quarter worth about $203,000. Finally, Intrust Bank NA bought a new position in Electronic Arts during the first quarter worth about $204,000. 93.88% of the stock is currently owned by institutional investors.
Electronic Arts Inc. (EA) opened at 119.31 on Friday. The firm’s 50-day moving average is $116.33 and its 200-day moving average is $103.28. The company has a market cap of $36.83 billion, a price-to-earnings ratio of 31.94 and a beta of 0.68. Electronic Arts Inc. has a 12 month low of $73.74 and a 12 month high of $122.79.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The firm had revenue of $775 million during the quarter, compared to analyst estimates of $768.47 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts anticipate that Electronic Arts Inc. will post $4.24 EPS for the current fiscal year.
Electronic Arts declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 9th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the game software company to purchase up to 45% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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A number of research firms recently issued reports on EA. BidaskClub downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. KeyCorp reiterated a “buy” rating on shares of Electronic Arts in a research report on Sunday, July 30th. Piper Jaffray Companies dropped their target price on shares of Electronic Arts from $119.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 10th. Bank of America Corporation restated a “neutral” rating and set a $104.00 price objective on shares of Electronic Arts in a report on Monday, May 8th. Finally, Morgan Stanley upped their price objective on shares of Electronic Arts from $114.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, June 7th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $115.97.
In related news, CFO Blake J. Jorgensen sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $107.90, for a total transaction of $1,079,000.00. Following the completion of the transaction, the chief financial officer now directly owns 229,614 shares in the company, valued at approximately $24,775,350.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Patrick Soderlund sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $111.32, for a total value of $5,566,000.00. Following the transaction, the executive vice president now owns 139,507 shares of the company’s stock, valued at $15,529,919.24. The disclosure for this sale can be found here. Insiders have sold a total of 333,539 shares of company stock valued at $38,242,133 in the last ninety days. Insiders own 2.55% of the company’s stock.
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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