Profund Advisors LLC Grows Stake in Electronic Arts Inc. (NASDAQ:EA)

Profund Advisors LLC boosted its position in Electronic Arts Inc. (NASDAQ:EA) by 26.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,496 shares of the game software company’s stock after purchasing an additional 5,542 shares during the period. Profund Advisors LLC’s holdings in Electronic Arts were worth $2,683,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. boosted its holdings in shares of Electronic Arts by 2.4% during the first quarter. Wetherby Asset Management Inc. now owns 4,521 shares of the game software company’s stock worth $459,000 after purchasing an additional 107 shares during the last quarter. Resources Investment Advisors Inc. boosted its holdings in shares of Electronic Arts by 9.8% during the first quarter. Resources Investment Advisors Inc. now owns 1,293 shares of the game software company’s stock worth $131,000 after purchasing an additional 115 shares during the last quarter. GYL Financial Synergies LLC boosted its holdings in shares of Electronic Arts by 2.8% during the second quarter. GYL Financial Synergies LLC now owns 4,355 shares of the game software company’s stock worth $441,000 after purchasing an additional 118 shares during the last quarter. Veritable L.P. boosted its holdings in shares of Electronic Arts by 1.9% during the second quarter. Veritable L.P. now owns 6,584 shares of the game software company’s stock worth $667,000 after purchasing an additional 124 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Electronic Arts by 5.4% during the first quarter. Signaturefd LLC now owns 2,578 shares of the game software company’s stock worth $262,000 after purchasing an additional 132 shares during the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $112.00 target price on shares of Electronic Arts in a report on Wednesday, September 4th. 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 report on Tuesday, July 2nd. BidaskClub upgraded Electronic Arts from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. Berenberg Bank set a $110.00 target price on Electronic Arts and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Nomura assumed coverage on Electronic Arts in a report on Thursday, June 6th. They issued a “buy” rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $110.64.



In related news, CFO Blake J. Jorgensen sold 5,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $91.79, for a total transaction of $477,308.00. Following the sale, the chief financial officer now owns 111,379 shares of the company’s stock, valued at $10,223,478.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Wilson sold 29,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 20,000 shares in the company, valued at approximately $2,022,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,074 shares of company stock valued at $9,331,897. Insiders own 2.18% of the company’s stock.

NASDAQ:EA traded up $0.19 during mid-day trading on Friday, reaching $98.53. The stock had a trading volume of 140,930 shares, compared to its average volume of 3,117,635. 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 stock’s 50 day simple moving average is $92.84 and its two-hundred day simple moving average is $95.09. Electronic Arts Inc. has a 1-year low of $73.91 and a 1-year high of $121.30. The company has a market capitalization of $29.32 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 2.24 and a beta of 0.97.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, July 30th. The game software company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.10). Electronic Arts had a net margin of 42.75% and a return on equity of 19.63%. The company had revenue of $743.00 million during the quarter, compared to analyst estimates of $724.55 million. Sell-side analysts anticipate that Electronic Arts Inc. will post 3.74 EPS for the current fiscal year.

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: Limitations of the P/E Growth ratio

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

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