Polar Asset Management Partners Inc. purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 208,692 shares of the game software company’s stock, valued at approximately $42,790,000. Electronic Arts makes up 0.7% of Polar Asset Management Partners Inc.’s holdings, making the stock its 19th biggest holding. Polar Asset Management Partners Inc. owned about 0.08% of Electronic Arts as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in shares of Electronic Arts during the 2nd quarter valued at approximately $25,000. Ascentis Independent Advisors purchased a new position in shares of Electronic Arts in the first quarter valued at $27,000. Torren Management LLC increased its position in Electronic Arts by 235.0% in the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock worth $27,000 after purchasing an additional 94 shares during the last quarter. MV Capital Management Inc. purchased a new stake in Electronic Arts during the fourth quarter valued at $28,000. Finally, Meeder Asset Management Inc. purchased a new stake in Electronic Arts during the second quarter valued at $31,000. Institutional investors own 90.23% of the company’s stock.
Analyst Ratings Changes
EA has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Zacks Research downgraded shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Finally, Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. 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 MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $206.50.
Insider Buying and Selling at Electronic Arts
In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction 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 sale, the insider owned 26,360 shares in the company, valued at $5,351,080. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the sale, the insider directly owned 73,513 shares of the company’s stock, valued at $14,930,490.30. This represents a 3.29% 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. Insiders have sold 8,700 shares of company stock valued at $1,766,950 in the last quarter. 0.24% of the stock is owned by insiders.
Electronic Arts Price Performance
Shares of NASDAQ:EA opened at $209.70 on Wednesday. Electronic Arts Inc. has a 1 year low of $159.10 and a 1 year high of $210.20. The business has a 50 day simple moving average of $207.53 and a two-hundred day simple moving average of $203.71. 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 current ratio of 1.21 and a quick ratio of 1.05.
Electronic Arts (NASDAQ:EA – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share for the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.The firm had revenue of $1.99 billion for the quarter.
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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