Resolute Advisors LLC acquired a new position in Electronic Arts Inc. (NASDAQ:EA – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 27,892 shares of the game software company’s stock, valued at approximately $5,719,000. Electronic Arts makes up about 1.4% of Resolute Advisors LLC’s investment portfolio, making the stock its 14th largest position.
A number of other hedge funds and other institutional investors have also bought and sold shares of EA. Jones Financial Companies Lllp bought a new position in Electronic Arts in the 2nd quarter worth $25,000. Ascentis Independent Advisors bought a new stake in Electronic Arts during the first quarter valued at about $27,000. Torren Management LLC boosted its holdings in Electronic Arts by 235.0% during the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after acquiring an additional 94 shares during the period. MV Capital Management Inc. acquired a new stake in shares of Electronic Arts in the fourth quarter valued at about $28,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Electronic Arts in the second quarter valued at about $31,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently weighed in on EA. Citigroup boosted their price objective on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Wall Street Zen raised Electronic Arts to a “hold” rating in a 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 Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Finally, Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $206.50.
Electronic Arts Stock Performance
NASDAQ:EA opened at $209.70 on Wednesday. The firm’s 50-day moving average is $208.23 and its 200-day moving average is $204.02. The company has a market cap of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21. 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 released its 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 business had revenue of $1.99 billion during the quarter.
Insider Buying and Selling at Electronic Arts
In other Electronic Arts 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 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. This trade represents a 4.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 sale, the insider directly owned 73,513 shares in the company, valued at $14,930,490.30. The trade was a 3.29% decrease in their position. 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. Insiders sold a total of 8,700 shares of company stock valued at $1,766,950 in the last quarter. Corporate insiders own 0.24% of the company’s stock.
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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