Econ Financial Services Corp Takes Position in Electronic Arts Inc. $EA

Econ Financial Services Corp purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 11,416 shares of the game software company’s stock, valued at approximately $1,823,000.

A number of other large investors have also recently modified their holdings of the business. Norden Group LLC bought a new stake in Electronic Arts in the 2nd quarter worth approximately $214,000. Focus Partners Advisor Solutions LLC bought a new stake in Electronic Arts in the 1st quarter worth approximately $319,000. Vanguard Personalized Indexing Management LLC lifted its position in Electronic Arts by 34.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 40,483 shares of the game software company’s stock worth $6,467,000 after buying an additional 10,453 shares during the last quarter. Vest Financial LLC lifted its position in Electronic Arts by 5.7% in the 2nd quarter. Vest Financial LLC now owns 278,069 shares of the game software company’s stock worth $44,408,000 after buying an additional 15,032 shares during the last quarter. Finally, CCM Investment Group LLC bought a new stake in Electronic Arts in the 1st quarter worth approximately $1,625,000. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Down 0.1%

EA stock opened at $200.30 on Wednesday. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $203.75. The business’s 50-day moving average is $184.46 and its two-hundred day moving average is $163.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $50.12 billion, a price-to-earnings ratio of 50.20, a P/E/G ratio of 3.05 and a beta of 0.77.

Analyst Ratings Changes

EA has been the subject of a number of recent research reports. Argus boosted their target price on Electronic Arts from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Zacks Research raised Electronic Arts from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Morgan Stanley lifted their price target on Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Roth Capital cut Electronic Arts from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $185.00 to $210.00 in a research note on Thursday, October 2nd. Finally, DZ Bank cut Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Electronic Arts currently has a consensus rating of “Hold” and a consensus target price of $179.38.

Insider Buying and Selling

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $203.40, for a total value of $244,080.00. Following the transaction, the insider owned 33,531 shares of the company’s stock, valued at approximately $6,820,205.40. This represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stuart Canfield sold 6,500 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the completion of the transaction, the chief financial officer directly owned 5,140 shares in the company, valued at approximately $1,045,476. This represents a 55.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,900 shares of company stock valued at $7,748,187 in the last 90 days. Insiders own 0.24% of the company’s stock.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.