Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 574,005 shares of the game software company’s stock, valued at approximately $117,694,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.23% of Electronic Arts at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Pentwater Capital Management LP lifted its holdings in shares of Electronic Arts by 128.1% during the fourth quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock worth $2,237,414,000 after purchasing an additional 6,150,000 shares during the period. Norges Bank acquired a new position in Electronic Arts in the 4th quarter valued at $643,674,000. HBK Investments L P acquired a new position in Electronic Arts in the 4th quarter valued at $390,267,000. Bank of New York Mellon Corp purchased a new position in Electronic Arts during the 2nd quarter worth $269,846,000. Finally, Ameriprise Financial Inc. raised its position in Electronic Arts by 44.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock worth $673,393,000 after buying an additional 1,300,336 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.
Electronic Arts Price Performance
Shares of NASDAQ:EA opened at $209.70 on Wednesday. The firm has a market capitalization of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.21 and a quick ratio of 1.05. The business’s 50 day simple moving average is $206.87 and its 200-day simple moving average is $203.43. Electronic Arts Inc. has a 12 month low of $159.10 and a 12 month high of $210.20.
Insider Activity
In related news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the sale, the insider directly owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. This represents a 4.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,066 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the transaction, the chief executive officer owned 85,974 shares of the company’s stock, valued at $17,337,516.84. This trade represents a 5.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 13,766 shares of company stock worth $2,788,560 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on EA shares. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Zacks Research lowered Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Citigroup increased their target price on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $206.50.
View Our Latest Stock Report on EA
Electronic Arts Profile
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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