Legal & General Group Plc purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,837,027 shares of the game software company’s stock, valued at approximately $376,664,000. Legal & General Group Plc owned approximately 0.73% of Electronic Arts at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new stake in Electronic Arts in the 2nd quarter worth about $21,560,000. Jones Financial Companies Lllp bought a new position in Electronic Arts during the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC purchased a new stake in Electronic Arts in the second quarter worth approximately $50,000. L2 Asset Management LLC bought a new stake in Electronic Arts in the 2nd quarter worth approximately $293,000. Finally, Cetera Trust Company N.A purchased a new stake in Electronic Arts during the 2nd quarter valued at $36,000. 90.23% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Andrew Wilson sold 5,000 shares of the business’s 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 sale, the chief executive officer directly owned 80,974 shares in the company, valued at approximately $16,447,438.88. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the transaction, the insider directly owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. The trade was a 4.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 8,700 shares of company stock worth $1,766,950. Corporate insiders own 0.24% of the company’s stock.
Electronic Arts Price Performance
Electronic Arts (NASDAQ:EA – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The game software company reported $1.58 EPS for the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%. The business had revenue of $1.99 billion for the quarter.
Analysts Set New Price Targets
EA has been the subject of a number of research reports. Zacks Research cut 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. 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. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Finally, Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $206.50.
Check Out Our Latest Stock Analysis on EA
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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