One68 Global Capital LLC Makes New Investment in Electronic Arts Inc. $EA

One68 Global Capital LLC bought a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,603 shares of the game software company’s stock, valued at approximately $2,994,000. Electronic Arts makes up about 6.3% of One68 Global Capital LLC’s investment portfolio, making the stock its 4th largest position.

Several other large investors have also recently made changes to their positions in EA. BlackRock Inc. purchased a new position in Electronic Arts during the second quarter valued at $5,125,838,000. Public Investment Fund purchased a new stake in shares of Electronic Arts in the second quarter worth $5,086,618,377,000. Pentwater Capital Management LP purchased a new stake in shares of Electronic Arts in the second quarter worth $2,762,914,000. Geode Capital Management LLC increased its holdings in shares of Electronic Arts by 2.2% during the fourth 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 in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Electronic Arts by 4.9% during the third 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 in the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.10, for a total transaction of $507,750.00. Following the completion of the sale, the insider owned 73,513 shares in the company, 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, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the transaction, the insider directly owned 26,360 shares in the company, valued at approximately $5,351,080. This represents a 4.35% 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 have sold 8,700 shares of company stock valued at $1,766,950 in the last ninety days. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EA. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Citigroup lifted their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. 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 company has an average rating of “Reduce” and a consensus price target of $206.50.

Electronic Arts Price Performance

EA opened at $209.70 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average price of $207.82 and a 200-day moving average price of $203.86. Electronic Arts Inc. has a twelve month low of $159.10 and a twelve month high of $210.20. The stock has a market capitalization of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64.

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