Crawford Lake Capital Management LLC Takes Position in Electronic Arts Inc. (EA)

Crawford Lake Capital Management LLC purchased a new stake in Electronic Arts Inc. (NASDAQ:EA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,000 shares of the game software company’s stock, valued at approximately $529,000.

Several other large investors also recently bought and sold shares of EA. D. Scott Neal Inc. acquired a new stake in Electronic Arts during the second quarter worth $120,000. Guardian Life Insurance Co. of America increased its stake in Electronic Arts by 2.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock worth $107,000 after acquiring an additional 34 shares during the last quarter. Invictus RG increased its stake in Electronic Arts by 722.0% during the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after acquiring an additional 1,148 shares during the last quarter. Calamos Advisors LLC acquired a new stake in Electronic Arts during the second quarter worth $228,000. Finally, Cedar Capital LLC acquired a new stake in Electronic Arts during the second quarter worth $232,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Patrick Soderlund sold 50,000 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $111.32, for a total transaction of $5,566,000.00. Following the transaction, the executive vice president now owns 139,507 shares of the company’s stock, valued at $15,529,919.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $107.90, for a total transaction of $1,079,000.00. Following the transaction, the chief financial officer now directly owns 229,614 shares in the company, valued at approximately $24,775,350.60. The disclosure for this sale can be found here. Insiders have sold 355,097 shares of company stock worth $40,795,378 in the last ninety days. Corporate insiders own 2.55% of the company’s stock.

Shares of Electronic Arts Inc. (EA) traded down 1.64% during mid-day trading on Tuesday, reaching $119.20. The company’s stock had a trading volume of 1,091,664 shares. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $122.79. The firm has a 50-day moving average of $117.53 and a 200-day moving average of $104.53. The firm has a market capitalization of $36.80 billion, a PE ratio of 31.91 and a beta of 0.68.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.22. The company had revenue of $775.00 million during the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. Equities research analysts forecast that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the company. Cowen and Company reissued a “hold” rating and set a $106.00 target price on shares of Electronic Arts in a research note on Friday. BidaskClub cut Electronic Arts from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Wedbush reissued a “buy” rating on shares of Electronic Arts in a research note on Friday, July 28th. KeyCorp reissued a “buy” rating on shares of Electronic Arts in a research note on Sunday, July 30th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on Electronic Arts in a research note on Friday. They set a “buy” rating and a $136.00 target price for the company. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Electronic Arts currently has a consensus rating of “Buy” and a consensus price target of $116.77.

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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.

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

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