Asset Management One Co. Ltd. Purchases 545,661 Shares of Electronic Arts Inc. (EA)
Asset Management One Co. Ltd. boosted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 1,839.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 575,323 shares of the game software company’s stock after buying an additional 545,661 shares during the period. Asset Management One Co. Ltd.’s holdings in Electronic Arts were worth $45,367,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Archford Capital Strategies LLC increased its position in shares of Electronic Arts by 1,407.3% in the second quarter. Archford Capital Strategies LLC now owns 1,447 shares of the game software company’s stock worth $110,000 after buying an additional 1,351 shares during the period. Bessemer Group Inc. increased its position in shares of Electronic Arts by 3,410.0% in the fourth quarter. Bessemer Group Inc. now owns 1,404 shares of the game software company’s stock worth $111,000 after buying an additional 1,364 shares during the period. Global X Management Co. LLC increased its position in shares of Electronic Arts by 113.9% in the third quarter. Global X Management Co. LLC now owns 1,587 shares of the game software company’s stock worth $136,000 after buying an additional 845 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in shares of Electronic Arts by 270.5% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,630 shares of the game software company’s stock worth $139,000 after buying an additional 1,190 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Electronic Arts during the third quarter worth about $140,000.
Electronic Arts Inc. (NASDAQ:EA) traded down 0.79% during midday trading on Friday, hitting $87.16. The stock had a trading volume of 835,593 shares. The firm’s 50-day moving average price is $81.71 and its 200 day moving average price is $81.04. The company has a market cap of $26.87 billion, a P/E ratio of 21.16 and a beta of 0.65. Electronic Arts Inc. has a 12 month low of $58.10 and a 12 month high of $88.28.
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A number of equities analysts have recently issued reports on the company. MKM Partners restated a “buy” rating and set a $95.00 price objective on shares of Electronic Arts in a research report on Thursday, November 3rd. Morgan Stanley restated an “overweight” rating and set a $101.00 price objective on shares of Electronic Arts in a research report on Thursday, November 3rd. Cowen and Company reiterated a “market perform” rating on shares of Electronic Arts in a report on Tuesday, January 31st. Benchmark Co. reiterated a “buy” rating and issued a $105.16 target price (up from $101.94) on shares of Electronic Arts in a report on Wednesday, February 1st. Finally, Vetr upgraded Electronic Arts from a “hold” rating to a “buy” rating and set a $83.46 target price for the company in a report on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $89.46.
In related news, CEO Andrew Wilson sold 8,000 shares of the stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $77.18, for a total transaction of $617,440.00. Following the completion of the sale, the chief executive officer now directly owns 222,706 shares in the company, valued at approximately $17,188,449.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Blake J. Jorgensen sold 10,100 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $78.58, for a total value of $793,658.00. Following the sale, the chief financial officer now owns 93,210 shares of the company’s stock, valued at $7,324,441.80. The disclosure for this sale can be found here. Insiders have sold a total of 100,216 shares of company stock valued at $8,001,777 over the last 90 days. 3.46% of the stock is currently owned by company 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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