Alta Park Capital Lp Lowers stake in Electronic Arts (EA)

Electronic Arts (EA) : Alta Park Capital Lp reduced its stake in Electronic Arts by 34.33% during the most recent quarter end. The investment management company now holds a total of 44,000 shares of Electronic Arts which is valued at $3,308,800 after selling 23,000 shares in Electronic Arts , the firm said in a disclosure report filed with the SEC on May 10, 2016.Electronic Arts makes up approximately 6.20% of Alta Park Capital Lp’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors reduced its stake in EA by selling 343,058 shares or 5.9% in the most recent quarter. The Hedge Fund company now holds 5,475,688 shares of EA which is valued at $411,771,738. Electronic Arts makes up approx 0.10% of Blackrock Fund Advisors’s portfolio.Tarbox Group reduced its stake in EA by selling 19 shares or 48.72% in the most recent quarter. The Hedge Fund company now holds 20 shares of EA which is valued at $1,237.Glenmede Trust Co Na reduced its stake in EA by selling 224,739 shares or 97.53% in the most recent quarter. The Hedge Fund company now holds 5,698 shares of EA which is valued at $352,421.

Electronic Arts opened for trading at $75.07 and hit $77.15 on the upside on Monday, eventually ending the session at $76.62, with a gain of 1.89% or 1.42 points. The heightened volatility saw the trading volume jump to 43,29,196 shares. Company has a market cap of $23,699 M.

On the company’s financial health, Electronic Arts reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.42. The company had revenue of $924.00 million for the quarter, compared to analysts expectations of $888.93 million. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Electronic Arts. Company shares were Reiterated by Stifel on May 12, 2016 to “Buy”, Firm has raised the Price Target to $ 82 from a previous price target of $81 .Company shares were Reiterated by The Benchmark Company on May 11, 2016 to “Buy”, Firm has raised the Price Target to $ 82.64 from a previous price target of $81.48 .

Electronic Arts Inc is a game software content and services provider. The Company develops markets publishes and distributes game software content for consumers of various video game machines and electronic devices. It also provides game software-related services. The Company’s brands include Battlefield Mass Effect Need for Speed Dragon Age The Sims Bejeweled and Plants v. Zombies as well as brands based on licensed intellectual property such as FIFA Madden NFL and Star Wars. The Company is organized around three divisions: EA Studios Maxis and EA Mobile. The EA Studios division develops games and related content and services across a range of game categories including the FIFA Madden NFL Need for Speed Battlefield Mass Effect and Dragon Age. The Maxis division creates games and related content and services that engage player creativity. The EA Mobile division focuses on developing and publishing interactive games for mobile phones and tablets.

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