Jupiter Topco LLC Takes Position in Electronic Arts Inc. $EA

Jupiter Topco LLC purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, Holdings Channel reports. The fund purchased 110,874 shares of the game software company’s stock, valued at approximately $22,729,000.

Several other hedge funds have also recently bought and sold shares of the business. Kintayl Capital LP acquired a new stake in Electronic Arts during the 2nd quarter worth about $9,077,000. ADAR1 Capital Management LLC acquired a new position in shares of Electronic Arts in the 2nd quarter valued at about $1,012,000. Hsbc Holdings PLC purchased a new stake in shares of Electronic Arts in the second quarter worth approximately $370,945,000. Palisade Capital Management LP purchased a new stake in shares of Electronic Arts in the second quarter worth approximately $800,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Electronic Arts during the second quarter worth approximately $184,538,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Zacks Research downgraded shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Wall Street Zen upgraded Electronic Arts to a “hold” rating in a report on Saturday, June 6th. One analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Electronic Arts has a consensus rating of “Reduce” and an average target price of $206.50.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.12, for a total value of $1,015,600.00. Following the completion of the sale, the chief executive officer owned 80,974 shares of the company’s stock, valued at approximately $16,447,438.88. The trade was a 5.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the completion of the sale, the insider owned 26,360 shares of the company’s stock, valued at $5,351,080. This represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,700 shares of company stock worth $1,766,950 in the last 90 days. 0.24% of the stock is owned by insiders.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $209.70 on Friday. The stock has a market cap of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The business has a 50 day simple moving average of $207.97 and a 200 day simple moving average of $203.90. Electronic Arts Inc. has a 52 week low of $159.10 and a 52 week high of $210.20. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Monday, August 3rd. The game software company reported $1.58 EPS for the quarter. The firm had revenue of $1.99 billion for the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.