Virtu KCG Holdings LLC Boosts Stake in Electronic Arts Inc. (EA)

Virtu KCG Holdings LLC lifted its position in Electronic Arts Inc. (NASDAQ:EA) by 92.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,060 shares of the game software company’s stock after purchasing an additional 36,637 shares during the quarter. Electronic Arts accounts for about 0.2% of Virtu KCG Holdings LLC’s holdings, making the stock its 23rd largest holding. Virtu KCG Holdings LLC’s holdings in Electronic Arts were worth $8,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its holdings in Electronic Arts by 0.7% during the 2nd quarter. FMR LLC now owns 30,692,180 shares of the game software company’s stock valued at $3,244,778,000 after acquiring an additional 205,768 shares during the period. Vanguard Group Inc. boosted its holdings in Electronic Arts by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after acquiring an additional 2,394,314 shares during the period. BlackRock Inc. boosted its holdings in Electronic Arts by 3,420.8% during the 1st quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock valued at $1,858,837,000 after acquiring an additional 20,174,721 shares during the period. State Street Corp boosted its holdings in Electronic Arts by 2.8% during the 1st quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock valued at $1,064,069,000 after acquiring an additional 318,704 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Electronic Arts by 15.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,077,235 shares of the game software company’s stock valued at $723,074,000 after acquiring an additional 1,064,602 shares during the period. Hedge funds and other institutional investors own 93.84% of the company’s stock.

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In related news, EVP Chris Bruzzo sold 1,500 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $105.98, for a total transaction of $158,970.00. Following the completion of the transaction, the executive vice president now owns 33,345 shares in the company, valued at approximately $3,533,903.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $120.77, for a total transaction of $120,770.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,097 shares of company stock valued at $23,140,148. Insiders own 2.55% of the company’s stock.

EA has been the subject of several analyst reports. Bank of America Corporation upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $131.00 target price for the company in a report on Wednesday, July 26th. BidaskClub raised Electronic Arts from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Needham & Company LLC initiated coverage on Electronic Arts in a research report on Monday, July 17th. They set a “buy” rating and a $130.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating on shares of Electronic Arts in a research report on Monday, July 17th. Finally, Benchmark Co. upped their price target on Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a research report on Tuesday, June 20th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Electronic Arts currently has a consensus rating of “Buy” and a consensus price target of $118.01.

Shares of Electronic Arts Inc. (NASDAQ EA) traded up 0.41% during midday trading on Friday, hitting $118.50. The stock had a trading volume of 2,077,341 shares. The firm has a 50 day moving average price of $118.23 and a 200-day moving average price of $106.08. Electronic Arts Inc. has a 52-week low of $73.74 and a 52-week high of $122.79. The stock has a market cap of $36.58 billion, a PE ratio of 31.73 and a beta of 0.68.

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

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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