Artisan Partners Limited Partnership Lowers stake in Electronic Arts (EA)

Electronic Arts (EA) : Artisan Partners Limited Partnership reduced its stake in Electronic Arts by 8.19% during the most recent quarter end. The investment management company now holds a total of 7,500,189 shares of Electronic Arts which is valued at $580,739,634 after selling 669,263 shares in Electronic Arts , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Electronic Arts makes up approximately 1.17% of Artisan Partners Limited Partnership’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds boosted its stake in EA in the latest quarter, The investment management firm added 341,447 additional shares and now holds a total of 3,227,602 shares of Electronic Arts which is valued at $249,913,223. Electronic Arts makes up approx 0.31% of Oppenheimerfunds’s portfolio.Blackrock Group Ltd boosted its stake in EA in the latest quarter, The investment management firm added 224,316 additional shares and now holds a total of 3,049,079 shares of Electronic Arts which is valued at $236,090,187. Electronic Arts makes up approx 0.12% of Blackrock Group Ltd’s portfolio.Fukoku Mutual Life Insurance Co reduced its stake in EA by selling 400 shares or 15.38% in the most recent quarter. The Hedge Fund company now holds 2,200 shares of EA which is valued at $174,394. Electronic Arts makes up approx 0.03% of Fukoku Mutual Life Insurance Co’s portfolio.Cypress Capital Management (wy) reduced its stake in EA by selling 1,125 shares or 78.95% in the most recent quarter. The Hedge Fund company now holds 300 shares of EA which is valued at $22,896. Electronic Arts makes up approx 0.03% of Cypress Capital Management (wy)’s portfolio.

Electronic Arts opened for trading at $81.98 and hit $82.615 on the upside on Tuesday, eventually ending the session at $82.31, with a gain of 1.01% or 0.82 points. The heightened volatility saw the trading volume jump to 46,03,781 shares. Company has a market cap of $24,756 M.

On the company’s financial health, Electronic Arts reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.03. The company had revenue of $682.00 million for the quarter, compared to analysts expectations of $650.42 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on Electronic Arts. Company shares were Reiterated by MKM Partners on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 88 from a previous price target of $87 .Company shares were Reiterated by The Benchmark Company on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 93.80 from a previous price target of $82.64 .

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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