Westpac Banking Corp bought a new position in Electronic Arts Inc. (NASDAQ:EA – Free Report) in the second quarter, Holdings Channel reports. The firm bought 3,497 shares of the game software company’s stock, valued at approximately $717,000.
Several other hedge funds have also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. raised its position in shares of Electronic Arts by 12.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 108,908 shares of the game software company’s stock valued at $22,185,000 after purchasing an additional 12,095 shares during the period. Swiss National Bank boosted its holdings in Electronic Arts by 8.0% in the 1st quarter. Swiss National Bank now owns 704,400 shares of the game software company’s stock valued at $143,606,000 after purchasing an additional 51,900 shares during the period. Mizuho Markets Americas LLC bought a new position in Electronic Arts in the 4th quarter valued at $2,043,000. Generali Asset Management SPA SGR grew its position in shares of Electronic Arts by 76.3% during the 4th quarter. Generali Asset Management SPA SGR now owns 29,530 shares of the game software company’s stock valued at $6,034,000 after purchasing an additional 12,777 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Electronic Arts during the 4th quarter valued at $643,674,000. 90.23% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
EA has been the subject of several recent analyst reports. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Wall Street Zen upgraded 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. Finally, Citigroup upped their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $206.50.
Electronic Arts Price Performance
Shares of NASDAQ:EA opened at $209.70 on Friday. Electronic Arts Inc. has a 52-week low of $159.10 and a 52-week high of $210.20. The firm has a fifty day moving average of $207.27 and a 200 day moving average of $203.56. The firm has a market capitalization of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21.
Electronic Arts (NASDAQ:EA – Get Free Report) last released its earnings results on Monday, August 3rd. The game software company reported $1.58 EPS for the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.The business had revenue of $1.99 billion for the quarter.
Insider Transactions at Electronic Arts
In related news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.12, for a total value of $1,015,600.00. Following the completion of the sale, the chief executive officer owned 80,974 shares in the company, valued at $16,447,438.88. The trade was a 5.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of 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. 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. In the last three months, insiders sold 8,700 shares of company stock worth $1,766,950. 0.24% of the stock is currently owned by corporate insiders.
Electronic Arts Company 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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