Electronic Arts Inc. (NASDAQ:EA) Shares Purchased by Riverhead Capital Management LLC

Riverhead Capital Management LLC lifted its position in Electronic Arts Inc. (NASDAQ:EA) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,940 shares of the game software company’s stock after purchasing an additional 900 shares during the quarter. Riverhead Capital Management LLC’s holdings in Electronic Arts were worth $1,007,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Electronic Arts by 10.8% during the first quarter. FMR LLC now owns 16,439,841 shares of the game software company’s stock worth $1,670,780,000 after purchasing an additional 1,598,653 shares during the period. Geode Capital Management LLC grew its holdings in shares of Electronic Arts by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 3,613,795 shares of the game software company’s stock valued at $284,619,000 after purchasing an additional 164,030 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Electronic Arts by 72.9% in the first quarter. Wells Fargo & Company MN now owns 1,748,806 shares of the game software company’s stock valued at $177,732,000 after purchasing an additional 737,527 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Electronic Arts by 4.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,533,595 shares of the game software company’s stock worth $155,294,000 after buying an additional 64,275 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Electronic Arts by 11.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,420,926 shares of the game software company’s stock worth $143,884,000 after buying an additional 141,248 shares in the last quarter. Hedge funds and other institutional investors own 92.66% of the company’s stock.

EA has been the subject of several recent research reports. Citigroup began coverage on shares of Electronic Arts in a research report on Friday, June 7th. They issued a “neutral” rating and a $102.00 price target for the company. BidaskClub upgraded Electronic Arts from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. Bank of America lifted their target price on Electronic Arts from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Nomura assumed coverage on Electronic Arts in a research note on Thursday, June 6th. They set a “buy” rating and a $120.00 target price for the company. Finally, Wedbush restated an “outperform” rating and set a $112.00 price target on shares of Electronic Arts in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Electronic Arts has an average rating of “Buy” and an average price target of $110.64.

In related news, insider Vijayanthimala Singh sold 500 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $92.92, for a total transaction of $46,460.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Matthew Bilbey sold 600 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $102.65, for a total value of $61,590.00. Following the transaction, the executive vice president now directly owns 10,773 shares in the company, valued at approximately $1,105,848.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,174 shares of company stock valued at $7,940,853. 2.18% of the stock is owned by insiders.

Electronic Arts stock traded up $1.25 during trading hours on Tuesday, reaching $99.93. 171,182 shares of the stock were exchanged, compared to its average volume of 2,974,837. Electronic Arts Inc. has a 52-week low of $73.91 and a 52-week high of $121.30. The stock has a market cap of $29.04 billion, a P/E ratio of 25.63, a P/E/G ratio of 2.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.52 and a current ratio of 3.52. The firm’s 50 day moving average is $92.38 and its 200 day moving average is $95.06.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, July 30th. The game software company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $743.00 million during the quarter, compared to analysts’ expectations of $724.55 million. Equities research analysts expect that Electronic Arts Inc. will post 3.74 EPS for the current fiscal year.

Electronic Arts Company Profile

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.

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

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