Coastline Trust Co Has $2.21 Million Holdings in Electronic Arts Inc. (EA)

Coastline Trust Co raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 8.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,885 shares of the game software company’s stock after buying an additional 1,570 shares during the quarter. Coastline Trust Co’s holdings in Electronic Arts were worth $2,208,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dai Ichi Life Insurance Company Ltd raised its position in shares of Electronic Arts by 5.6% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 79,770 shares of the game software company’s stock valued at $8,433,000 after purchasing an additional 4,196 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Electronic Arts by 672.1% in the 2nd quarter. Martingale Asset Management L P now owns 26,307 shares of the game software company’s stock valued at $2,782,000 after purchasing an additional 22,900 shares during the last quarter. AXA raised its position in shares of Electronic Arts by 3.8% in the 2nd quarter. AXA now owns 306,056 shares of the game software company’s stock valued at $32,356,000 after purchasing an additional 11,142 shares during the last quarter. Eaton Vance Management raised its position in shares of Electronic Arts by 0.6% in the 2nd quarter. Eaton Vance Management now owns 55,013 shares of the game software company’s stock valued at $5,816,000 after purchasing an additional 345 shares during the last quarter. Finally, CIBC World Markets Inc. raised its position in shares of Electronic Arts by 1,257.3% in the 2nd quarter. CIBC World Markets Inc. now owns 357,579 shares of the game software company’s stock valued at $37,803,000 after purchasing an additional 331,234 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Inc. (NASDAQ EA) traded up 1.50% during midday trading on Monday, reaching $120.06. 426,479 shares of the company were exchanged. Electronic Arts Inc. has a 52-week low of $73.74 and a 52-week high of $122.79. The company has a 50 day moving average of $117.53 and a 200-day moving average of $104.40. The company has a market capitalization of $37.07 billion, a price-to-earnings ratio of 32.14 and a beta of 0.68.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The firm had revenue of $775 million during the quarter, compared to analysts’ expectations 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 was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 earnings per share. On average, equities research analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.

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In other Electronic Arts news, EVP Patrick Soderlund sold 50,000 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $111.32, for a total value of $5,566,000.00. Following the completion of the transaction, the executive vice president now owns 139,507 shares in the company, valued at $15,529,919.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $107.90, for a total value of $1,079,000.00. Following the completion of the transaction, the chief financial officer now owns 229,614 shares of the company’s stock, valued at approximately $24,775,350.60. The disclosure for this sale can be found here. Insiders sold 345,097 shares of company stock valued at $39,623,978 in the last quarter. 2.55% of the stock is currently owned by company insiders.

EA has been the subject of several research analyst reports. Vetr raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 price objective for the company in a research report on Tuesday, July 4th. BidaskClub lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Benchmark Co. increased their price objective on shares of Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a research report on Tuesday, June 20th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Electronic Arts in a research report on Monday, July 17th. Finally, Zacks Investment Research lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Electronic Arts currently has a consensus rating of “Buy” and a consensus price target of $116.77.

Electronic Arts 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.

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

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