Trexquant Investment LP Purchases New Position in Electronic Arts Inc. (NASDAQ:EA)

Trexquant Investment LP acquired a new stake in Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,600 shares of the game software company’s stock, valued at approximately $1,755,000. Electronic Arts accounts for about 0.5% of Trexquant Investment LP’s investment portfolio, making the stock its 11th largest position.

Several other institutional investors also recently added to or reduced their stakes in EA. BlackRock Inc. increased its position in shares of Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock valued at $1,858,837,000 after buying an additional 20,174,721 shares during the period. Winslow Capital Management LLC increased its position in shares of Electronic Arts by 1,869,551.3% in the first quarter. Winslow Capital Management LLC now owns 2,879,263 shares of the game software company’s stock valued at $257,751,000 after buying an additional 2,879,109 shares during the period. Vanguard Group Inc. increased its position in shares of Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after buying an additional 2,394,314 shares during the period. Ameriprise Financial Inc. increased its position in shares of Electronic Arts by 24.8% in the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock valued at $845,359,000 after buying an additional 1,877,351 shares during the period. Finally, AQR Capital Management LLC increased its position in Electronic Arts by 174.5% in the first quarter. AQR Capital Management LLC now owns 2,180,565 shares of the game software company’s stock worth $195,204,000 after buying an additional 1,386,296 shares during the last quarter. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Electronic Arts Inc. (NASDAQ:EA) traded up 0.35% during trading on Friday, reaching $116.88. The company had a trading volume of 1,912,014 shares. Electronic Arts Inc. has a 12 month low of $73.74 and a 12 month high of $120.25. The firm has a market capitalization of $36.08 billion, a P/E ratio of 31.29 and a beta of 0.72. The firm’s 50 day moving average price is $113.30 and its 200 day moving average price is $100.72.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.22. The business had revenue of $775 million for the quarter, compared to analysts’ expectations of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Equities analysts predict that Electronic Arts Inc. will post $4.24 EPS for the current year.

Electronic Arts declared that its Board of Directors has authorized a stock buyback plan on Tuesday, May 9th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the game software company to purchase up to 45% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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EA has been the topic of a number of recent research reports. Vetr raised Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 price target on the stock in a research report on Tuesday, July 4th. BidaskClub cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Benchmark Co. upped their price objective on Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded Electronic Arts from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, MKM Partners restated a “buy” rating and set a $109.00 price objective (up from $95.00) on shares of Electronic Arts in a research note on Friday, May 5th. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Electronic Arts presently has an average rating of “Buy” and a consensus target price of $115.19.

In other news, CEO Andrew Wilson sold 10,965 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $108.00, for a total transaction of $1,184,220.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Denise Warren sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $108.84, for a total transaction of $108,840.00. Following the transaction, the director now owns 13,665 shares in the company, valued at $1,487,298.60. The disclosure for this sale can be found here. Insiders have sold 337,624 shares of company stock worth $38,078,825 over the last ninety days. Insiders own 2.55% of the company’s stock.

About Electronic Arts

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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