Palisade Capital Management LP purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) during the second quarter, HoldingsChannel.com reports. The fund purchased 3,900 shares of the game software company’s stock, valued at approximately $800,000.
A number of other large investors have also recently made changes to their positions in the stock. Cornerstone Planning Group LLC lifted its position in Electronic Arts by 26.7% during the first quarter. Cornerstone Planning Group LLC now owns 242 shares of the game software company’s stock valued at $49,000 after purchasing an additional 51 shares during the period. Optas LLC boosted its holdings in Electronic Arts by 4.2% in the first quarter. Optas LLC now owns 1,332 shares of the game software company’s stock worth $272,000 after purchasing an additional 54 shares during the last quarter. Macroview Investment Management LLC raised its stake in Electronic Arts by 6.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company’s stock valued at $218,000 after buying an additional 62 shares during the last quarter. Candriam S.C.A. lifted its holdings in shares of Electronic Arts by 0.3% during the 1st quarter. Candriam S.C.A. now owns 24,685 shares of the game software company’s stock valued at $5,033,000 after buying an additional 65 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Electronic Arts by 8.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 931 shares of the game software company’s stock valued at $190,000 after acquiring an additional 69 shares during the period. 90.23% of the stock is currently owned by institutional investors.
Insider Activity at Electronic Arts
In related news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Monday, June 15th. The shares were 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 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 document filed with the SEC, which is available 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 stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of 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. In the last ninety days, insiders have sold 8,700 shares of company stock worth $1,766,950. Insiders own 0.24% of the company’s stock.
Electronic Arts Price Performance
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 for the quarter. The company had revenue of $1.99 billion for the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Finally, Citigroup lifted their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $206.50.
Check Out Our Latest Stock Report on Electronic Arts
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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