Vazirani Asset Management LLC Acquires Shares of 5,000 Electronic Arts Inc. $EA

Vazirani Asset Management LLC acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 5,000 shares of the game software company’s stock, valued at approximately $1,025,200,000. Electronic Arts accounts for about 5.0% of Vazirani Asset Management LLC’s portfolio, making the stock its 8th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in EA. BlackRock Inc. acquired a new position in shares of Electronic Arts in the second quarter valued at approximately $5,125,838,000. Pentwater Capital Management LP lifted its holdings in shares of Electronic Arts by 128.1% during the fourth quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock worth $2,237,414,000 after purchasing an additional 6,150,000 shares during the period. Geode Capital Management LLC grew its position in Electronic Arts by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company’s stock valued at $1,382,030,000 after buying an additional 143,195 shares during the last quarter. Invesco Ltd. grew its position in Electronic Arts by 4.9% in the 3rd quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock valued at $870,328,000 after buying an additional 202,657 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Electronic Arts by 44.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock valued at $673,393,000 after buying an additional 1,300,336 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Electronic Arts Stock Performance

Shares of EA stock opened at $209.70 on Thursday. The business’s fifty day moving average price is $207.67 and its 200 day moving average price is $203.79. The firm has a market capitalization of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.21 and a quick ratio of 1.05. Electronic Arts Inc. has a 1-year low of $159.10 and a 1-year high of $210.20.

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

Insider Activity

In related news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the sale, the insider owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 dated Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the transaction, the insider owned 26,360 shares in the company, valued at $5,351,080. The trade was a 4.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,700 shares of company stock worth $1,766,950 in the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Company Profile

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.