Coatue Management Lowers stake in Electronic Arts (EA)

Electronic Arts (EA) : Coatue Management reduced its stake in Electronic Arts by 19.8% during the most recent quarter end. The investment management company now holds a total of 4,728,849 shares of Electronic Arts which is valued at $366,154,778 after selling 1,167,237 shares in Electronic Arts , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Electronic Arts makes up approximately 4.82% of Coatue Management’s portfolio.

Other Hedge Funds, Including , 1832 Asset Management added EA to its portfolio by purchasing 274,100 company shares during the most recent quarter which is valued at $21,223,563. Electronic Arts makes up approx 0.08% of 1832 Asset Management’s portfolio.Norinchukin Bank The reduced its stake in EA by selling 53 shares or 0.33% in the most recent quarter. The Hedge Fund company now holds 15,820 shares of EA which is valued at $1,231,587. Electronic Arts makes up approx 0.03% of Norinchukin Bank The’s portfolio.Strs Ohio reduced its stake in EA by selling 10,481 shares or 43.48% in the most recent quarter. The Hedge Fund company now holds 13,626 shares of EA which is valued at $1,044,705. Gierl Augustine Investment Management Inc sold out all of its stake in EA during the most recent quarter. The investment firm sold 1,610 shares of EA which is valued $124,968.

Electronic Arts opened for trading at $81.1 and hit $81.96 on the upside on Monday, eventually ending the session at $81.51, with a gain of 0.37% or 0.3 points. The heightened volatility saw the trading volume jump to 19,75,866 shares. Company has a market cap of $24,515 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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