Wealthfront Advisers LLC Makes New Investment in Electronic Arts Inc. $EA

Wealthfront Advisers LLC purchased a new stake in Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,964 shares of the game software company’s stock, valued at approximately $6,349,000.

Several other institutional investors have also made changes to their positions in EA. Vanguard Group Inc. grew its position in Electronic Arts by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 28,773,086 shares of the game software company’s stock worth $5,879,205,000 after buying an additional 485,030 shares in the last quarter. BlackRock Inc. acquired a new position in Electronic Arts in the 2nd quarter valued at $5,125,838,000. Pentwater Capital Management LP raised its holdings in Electronic Arts by 128.1% in the 4th quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock valued at $2,237,414,000 after acquiring an additional 6,150,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Electronic Arts by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company’s stock valued at $1,382,030,000 after acquiring an additional 143,195 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Electronic Arts by 4.9% during the 3rd quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock valued at $870,328,000 after acquiring an additional 202,657 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EA. Zacks Research cut Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Citigroup raised their target price 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. Finally, Argus cut shares of 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 given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $206.50.

Insiders Place Their Bets

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.10, for a total value of $507,750.00. Following the completion of the transaction, the insider owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. This represents a 3.29% decrease in their ownership of the stock. The transaction 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, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were 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 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. 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. Over the last 90 days, insiders sold 8,700 shares of company stock valued at $1,766,950. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Stock Performance

Shares of EA opened at $209.70 on Thursday. Electronic Arts Inc. has a 52-week low of $159.10 and a 52-week high of $210.20. The business’s fifty day moving average is $207.00 and its 200-day moving average is $203.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21. The firm has a market cap of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Monday, August 3rd. The game software company reported $1.58 EPS for the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.The company had revenue of $1.99 billion during the quarter.

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.