Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 51,044 shares of the game software company’s stock, valued at approximately $10,466,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Electronic Arts in the 2nd quarter worth about $5,125,838,000. Pentwater Capital Management LP increased its stake in shares of 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 valued at $2,237,414,000 after acquiring an additional 6,150,000 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 valued at $1,382,030,000 after acquiring an additional 143,195 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Electronic Arts by 4.9% during the 3rd quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock worth $870,328,000 after acquiring an additional 202,657 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Electronic Arts by 44.6% in the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock worth $673,393,000 after acquiring an additional 1,300,336 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Zacks Research lowered 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 report on Monday, May 18th. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Citigroup boosted their price target on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Electronic Arts has a consensus rating of “Reduce” and an average target price of $206.50.
Electronic Arts Stock Performance
Shares of EA stock opened at $209.70 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.21. The company has a market cap of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. The company’s fifty day simple moving average is $207.67 and its 200-day simple moving average is $203.79. Electronic Arts Inc. has a 52 week low of $159.10 and a 52 week high of $210.20.
Electronic Arts (NASDAQ:EA – Get Free Report) last announced 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 net margin of 13.80% and a return on equity of 22.45%. The firm had revenue of $1.99 billion during the quarter.
Insider Activity
In other news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated 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 approximately $16,447,438.88. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the firm’s 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 owned 26,360 shares in the company, valued at approximately $5,351,080. The trade was a 4.35% 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. Over the last quarter, insiders sold 8,700 shares of company stock worth $1,766,950. 0.24% of the stock is currently owned by corporate insiders.
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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