Corient Private Wealth LP bought a new stake in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 96,395 shares of the game software company’s stock, valued at approximately $19,764,000.
Several other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new stake in Electronic Arts during the second quarter worth about $25,000. Ascentis Independent Advisors purchased a new position in shares of Electronic Arts in the first quarter valued at approximately $27,000. Torren Management LLC grew its holdings in shares of Electronic Arts by 235.0% in the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after purchasing an additional 94 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of Electronic Arts in the fourth quarter valued at approximately $28,000. Finally, Meeder Asset Management Inc. purchased a new stake in Electronic Arts during the 2nd quarter worth approximately $31,000. 90.23% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Zacks Research downgraded Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Citigroup lifted their price target 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. Finally, 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. One 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, the stock currently has an average rating of “Reduce” and a consensus price target of $206.50.
Electronic Arts Price Performance
Shares of EA opened at $209.70 on Friday. Electronic Arts Inc. has a 1-year low of $159.10 and a 1-year high of $210.20. The stock has a market cap 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. The firm has a fifty day moving average price of $207.97 and a 200 day moving average price of $203.90.
Electronic Arts (NASDAQ:EA – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The game software company reported $1.58 earnings per share (EPS) for the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.The company had revenue of $1.99 billion for the quarter.
Insider Buying and Selling
In related news, insider Vijayanthimala Singh sold 1,200 shares of the firm’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 transaction of $243,600.00. Following the transaction, the insider owned 26,360 shares in the company, valued at $5,351,080. This trade represents a 4.35% 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 Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.10, for a total value of $507,750.00. Following the transaction, the insider directly owned 73,513 shares in the company, valued at approximately $14,930,490.30. This trade represents a 3.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,700 shares of company stock worth $1,766,950 in the last quarter. 0.24% of the stock is owned by insiders.
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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