Ardevora Asset Management Llp buys $30.7 Million stake in Electronic Arts (EA)

Electronic Arts (EA) : Ardevora Asset Management Llp scooped up 84,700 additional shares in Electronic Arts during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 408,067 shares of Electronic Arts which is valued at $30.7 Million.Electronic Arts makes up approximately 1.49% of Ardevora Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Signaturefd reduced its stake in EA by selling 10 shares or 14.93% in the most recent quarter. The Hedge Fund company now holds 57 shares of EA which is valued at $4,286.Mutual Of America Capital Management boosted its stake in EA in the latest quarter, The investment management firm added 335 additional shares and now holds a total of 34,682 shares of Electronic Arts which is valued at $2.6 Million. Electronic Arts makes up approx 0.06% of Mutual Of America Capital Management’s portfolio.California Public Employees Retirement System boosted its stake in EA in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 815,700 shares of Electronic Arts which is valued at $52.2 Million. Electronic Arts makes up approx 0.08% of California Public Employees Retirement System’s portfolio.

Electronic Arts closed down -0.39 points or -0.53% at $73.11 with 37,72,479 shares getting traded on Friday. Post opening the session at $73.48, the shares hit an intraday low of $72.93 and an intraday high of $74.01 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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