Strategy Asset Managers LLC Acquires Shares of 23,494 Electronic Arts Inc. (EA)
Strategy Asset Managers LLC acquired a new stake in Electronic Arts Inc. (NASDAQ:EA) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 23,494 shares of the game software company’s stock, valued at approximately $2,774,000.
Several other hedge funds have also added to or reduced their stakes in EA. Renaissance Technologies LLC lifted its position in Electronic Arts by 928.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,586,064 shares of the game software company’s stock worth $273,399,000 after acquiring an additional 2,334,600 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Electronic Arts during the 3rd quarter worth $148,789,000. Arrowstreet Capital Limited Partnership lifted its position in Electronic Arts by 145.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,784 shares of the game software company’s stock worth $127,793,000 after acquiring an additional 715,862 shares during the last quarter. Janus Henderson Group PLC lifted its position in Electronic Arts by 65.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,425,278 shares of the game software company’s stock worth $150,688,000 after acquiring an additional 561,322 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in Electronic Arts by 103.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,012,999 shares of the game software company’s stock worth $107,094,000 after acquiring an additional 515,608 shares during the last quarter. 94.56% of the stock is owned by institutional investors and hedge funds.
EA has been the topic of several research reports. Jefferies Group LLC restated a “buy” rating and set a $135.00 price objective on shares of Electronic Arts in a report on Thursday, August 31st. BidaskClub upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Benchmark Co. boosted their price objective on shares of Electronic Arts from $136.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, September 13th. Buckingham Research initiated coverage on shares of Electronic Arts in a report on Wednesday, September 20th. They set a “buy” rating and a $143.00 price objective on the stock. Finally, Wedbush set a $136.00 price objective on shares of Electronic Arts and gave the stock a “buy” rating in a report on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $123.38.
In other Electronic Arts news, CEO Andrew Wilson sold 10,058 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake J. Jorgensen sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $117.14, for a total transaction of $1,171,400.00. Following the completion of the sale, the chief financial officer now directly owns 199,614 shares of the company’s stock, valued at approximately $23,382,783.96. The disclosure for this sale can be found here. Insiders sold 190,596 shares of company stock worth $22,627,981 over the last 90 days. 2.55% of the stock is currently owned by company insiders.
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Shares of Electronic Arts Inc. (NASDAQ EA) traded up $0.86 during midday trading on Monday, reaching $112.75. 2,534,000 shares of the company traded hands, compared to its average volume of 3,671,076. Electronic Arts Inc. has a fifty-two week low of $73.74 and a fifty-two week high of $122.79. The firm has a market capitalization of $34,718.59, a price-to-earnings ratio of 28.99, a P/E/G ratio of 1.85 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.38 and a quick ratio of 2.38.
About Electronic Arts
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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