Electronic Arts Inc. $EA Stock Position Lifted by Summit Global Investments

Summit Global Investments lifted its position in Electronic Arts Inc. (NASDAQ:EA) by 193.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,375 shares of the game software company’s stock after acquiring an additional 11,457 shares during the quarter. Summit Global Investments’ holdings in Electronic Arts were worth $3,505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ballentine Partners LLC boosted its holdings in Electronic Arts by 1.2% in the third quarter. Ballentine Partners LLC now owns 4,783 shares of the game software company’s stock worth $965,000 after purchasing an additional 59 shares during the period. Salomon & Ludwin LLC lifted its position in shares of Electronic Arts by 70.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after buying an additional 68 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Electronic Arts by 1.4% in the 3rd quarter. Moody National Bank Trust Division now owns 5,125 shares of the game software company’s stock valued at $1,034,000 after buying an additional 71 shares during the period. Ferguson Wellman Capital Management Inc. grew its position in shares of Electronic Arts by 2.1% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 3,467 shares of the game software company’s stock valued at $699,000 after buying an additional 72 shares during the last quarter. Finally, STF Management LP raised its stake in Electronic Arts by 2.0% during the second quarter. STF Management LP now owns 3,944 shares of the game software company’s stock worth $630,000 after acquiring an additional 76 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $204.11, for a total transaction of $510,275.00. Following the completion of the transaction, the insider directly owned 53,148 shares of the company’s stock, valued at approximately $10,848,038.28. This trade represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $204.30, for a total value of $245,160.00. Following the transaction, the insider owned 32,360 shares in the company, valued at approximately $6,611,148. This trade represents a 3.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 123,769 shares of company stock valued at $24,943,734. 0.24% of the stock is currently owned by insiders.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $203.95 on Friday. The stock has a market cap of $51.01 billion, a P/E ratio of 59.63, a P/E/G ratio of 2.46 and a beta of 0.73. The firm’s 50-day simple moving average is $203.76 and its 200 day simple moving average is $188.53. Electronic Arts Inc. has a fifty-two week low of $116.29 and a fifty-two week high of $204.88. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, October 28th. The game software company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.07). Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business posted $1.11 EPS. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. Equities analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on EA shares. Argus set a $210.00 target price on Electronic Arts in a research note on Thursday, October 30th. Roth Mkm lowered Electronic Arts from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $185.00 to $210.00 in a research report on Thursday, October 2nd. Zacks Research lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Citigroup boosted their price target on shares of Electronic Arts from $206.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Electronic Arts in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $187.19.

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.