Exchange Traded Concepts LLC grew its holdings in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 14.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,306 shares of the game software company’s stock after purchasing an additional 4,423 shares during the period. Exchange Traded Concepts LLC’s holdings in Electronic Arts were worth $7,034,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Electronic Arts by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 28,773,086 shares of the game software company’s stock valued at $5,879,205,000 after buying an additional 485,030 shares in the last quarter. Pentwater Capital Management LP increased its stake in Electronic Arts by 128.1% during the 4th quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock worth $2,237,414,000 after acquiring an additional 6,150,000 shares during the period. Geode Capital Management LLC increased its stake in Electronic Arts by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company’s stock worth $1,382,030,000 after acquiring an additional 143,195 shares during the period. Invesco Ltd. raised its holdings in Electronic Arts by 4.9% in the 3rd quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock valued at $870,328,000 after acquiring an additional 202,657 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Electronic Arts by 44.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock valued at $673,393,000 after acquiring an additional 1,300,336 shares in the last quarter. 90.23% of the stock is owned by institutional investors.
Insider Transactions at Electronic Arts
In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the completion of the transaction, the insider owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. The trade was a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,066 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the completion of the transaction, the chief executive officer directly owned 85,974 shares of the company’s stock, valued at $17,337,516.84. This trade represents a 5.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 22,506 shares of company stock valued at $4,547,036. Company insiders own 0.24% of the company’s stock.
Electronic Arts Price Performance
Analyst Ratings Changes
A number of brokerages recently commented on EA. Zacks Research cut Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Citigroup raised their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $206.50.
About Electronic Arts
Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.
EA’s product lineup spans several well-known franchises and genres.
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