Electronic Arts Inc. (EA) Shares Sold by Coatue Management LLC
Coatue Management LLC decreased its position in Electronic Arts Inc. (NASDAQ:EA) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,314,133 shares of the game software company’s stock after selling 24,440 shares during the period. Electronic Arts makes up 4.1% of Coatue Management LLC’s holdings, making the stock its 9th biggest holding. Coatue Management LLC owned about 1.40% of Electronic Arts worth $456,091,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in EA. Guardian Life Insurance Co. of America raised its holdings in shares of Electronic Arts by 2.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after purchasing an additional 34 shares during the period. Invictus RG raised its holdings in shares of Electronic Arts by 722.0% during the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after purchasing an additional 1,148 shares during the period. D. Scott Neal Inc. acquired a new position in shares of Electronic Arts during the second quarter valued at about $120,000. Captrust Financial Advisors acquired a new position in shares of Electronic Arts during the second quarter valued at about $195,000. Finally, Commerce Bank acquired a new position in shares of Electronic Arts during the first quarter valued at about $203,000. Institutional investors and hedge funds own 93.84% of the company’s stock.
Electronic Arts Inc. (EA) traded down 0.82% on Thursday, hitting $119.35. 255,055 shares of the stock were exchanged. The stock has a market cap of $36.85 billion, a price-to-earnings ratio of 31.95 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. The company has a 50-day moving average of $118.23 and a 200-day moving average of $106.08.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates 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 $775.00 million during the quarter, compared to analyst estimates of $768.47 million. During the same period in the previous year, the business posted $0.07 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities analysts predict that Electronic Arts Inc. will post $4.24 EPS for the current year.
In other news, CEO Andrew Wilson sold 9,059 shares of Electronic Arts stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $105.91, for a total value of $959,438.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Blake J. Jorgensen sold 10,000 shares of Electronic Arts stock in a transaction that occurred on Thursday, September 7th. The stock was 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 owns 199,614 shares of the company’s stock, valued at $23,382,783.96. The disclosure for this sale can be found here. Insiders sold 195,097 shares of company stock valued at $23,019,378 over the last quarter. Company insiders own 2.55% of the company’s stock.
Several equities analysts have recently weighed in on EA shares. Vetr upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 price objective on the stock in a report on Tuesday, July 4th. BidaskClub lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Benchmark Co. upped their price objective on shares of Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a report on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) started coverage on shares of Electronic Arts in a report on Friday, September 8th. They set a “buy” rating and a $136.00 price objective on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Electronic Arts in a report on Monday, July 17th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $118.01.
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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