Gilder Gagnon Howe & Co. LLC Sells 6,689 Shares of Electronic Arts Inc. (EA)
Gilder Gagnon Howe & Co. LLC reduced its position in Electronic Arts Inc. (NASDAQ:EA) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 323,169 shares of the game software company’s stock after selling 6,689 shares during the period. Gilder Gagnon Howe & Co. LLC owned approximately 0.10% of Electronic Arts worth $34,165,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock worth $2,652,637,000 after buying an additional 2,394,314 shares in the last quarter. BlackRock Inc. increased its stake in Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock worth $1,858,837,000 after buying an additional 20,174,721 shares in the last quarter. State Street Corp increased its stake in Electronic Arts by 2.8% in the first quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock worth $1,064,069,000 after buying an additional 318,704 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Electronic Arts by 24.8% in the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock worth $845,359,000 after buying an additional 1,877,351 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Electronic Arts by 15.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,077,235 shares of the game software company’s stock worth $723,074,000 after buying an additional 1,064,602 shares in the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.
Electronic Arts Inc. (EA) opened at 116.96 on Tuesday. The stock has a 50 day moving average of $111.06 and a 200 day moving average of $97.77. The company has a market cap of $36.14 billion, a PE ratio of 31.31 and a beta of 0.72. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $120.25.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.22. The firm had revenue of $775 million for the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. Electronic Arts’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Equities research analysts predict 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 repurchase $1.20 billion in shares. This repurchase authorization authorizes the game software company to purchase up to 45% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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EA has been the topic of a number of recent research reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $114.00 target price on shares of Electronic Arts in a research report on Sunday, May 28th. Benchmark Co. upped their target price on shares of Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Vetr raised shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 target price on the stock in a research report on Monday, May 8th. Robert W. Baird reaffirmed an “outperform” rating on shares of Electronic Arts in a research report on Thursday, May 11th. Finally, Zacks Investment Research downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Electronic Arts currently has an average rating of “Buy” and a consensus price target of $115.19.
In other Electronic Arts news, CEO Andrew Wilson sold 10,058 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $117.00, for a total value of $1,176,786.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joel Linzner sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $105.97, for a total value of $529,850.00. Following the completion of the transaction, the executive vice president now directly owns 16,745 shares of the company’s stock, valued at $1,774,467.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 341,915 shares of company stock worth $37,562,227. 2.55% of the stock is owned by insiders.
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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