Meeder Advisory Services Inc. purchased a new position in Electronic Arts Inc. (NASDAQ:EA – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,888 shares of the game software company’s stock, valued at approximately $1,617,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EA. Ascentis Independent Advisors purchased a new position in Electronic Arts in the 1st quarter valued at about $27,000. Torren Management LLC grew its holdings in Electronic Arts by 235.0% in the 2nd quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after buying an additional 94 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of Electronic Arts in the 4th quarter worth $28,000. Meeder Asset Management Inc. acquired a new stake in shares of Electronic Arts in the 2nd quarter worth $31,000. Finally, Asset Planning Inc acquired a new position in shares of Electronic Arts during the 1st quarter valued at about $32,000. 90.23% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on EA. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Zacks Research downgraded Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Citigroup increased their target price 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, Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. 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, Electronic Arts presently has a consensus rating of “Reduce” and a consensus target price of $206.50.
Insider Activity
In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the completion of the sale, the chief executive officer directly owned 80,974 shares of the company’s stock, valued at $16,447,438.88. This represents a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.00, for a total transaction of $243,600.00. Following the completion of the transaction, the insider directly owned 26,360 shares in the company, valued at $5,351,080. This represents a 4.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 valued at $1,766,950. Insiders own 0.24% of the company’s stock.
Electronic Arts Stock Performance
NASDAQ:EA opened at $209.70 on Thursday. Electronic Arts Inc. has a 12-month low of $159.10 and a 12-month high of $210.20. The firm has a market cap of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. 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 stock has a fifty day moving average price of $207.00 and a 200 day moving average price of $203.47.
Electronic Arts (NASDAQ:EA – Get Free Report) last issued its earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share for the quarter. The firm had revenue of $1.99 billion for the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%.
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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