Headlands Technologies LLC Lowers Holdings in Electronic Arts Inc. $EA

Headlands Technologies LLC trimmed its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 26.9% during the 2nd quarter, Holdings Channel reports. The fund owned 35,701 shares of the game software company’s stock after selling 13,126 shares during the quarter. Electronic Arts makes up about 0.8% of Headlands Technologies LLC’s investment portfolio, making the stock its 19th largest position. Headlands Technologies LLC’s holdings in Electronic Arts were worth $7,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of EA. Jones Financial Companies Lllp purchased a new stake in Electronic Arts in the 2nd quarter worth approximately $25,000. Ascentis Independent Advisors purchased a new position in shares of Electronic Arts during the 1st quarter valued at approximately $27,000. Torren Management LLC increased its holdings in shares of Electronic Arts by 235.0% during the 2nd quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after purchasing an additional 94 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of Electronic Arts in the 4th quarter valued at $28,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Electronic Arts in the 2nd quarter valued at $31,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 of the company’s stock, valued at $14,930,490.30. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the business’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 sale, the insider owned 26,360 shares of the company’s stock, valued at $5,351,080. The trade was a 4.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 8,700 shares of company stock worth $1,766,950. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $209.70 on Monday. The company’s 50-day simple moving average is $207.97 and its 200-day simple moving average is $203.92. Electronic Arts Inc. has a 52-week low of $159.10 and a 52-week high of $210.20. The firm 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 quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21.

Electronic Arts (NASDAQ:EA) last released its earnings results on Monday, August 3rd. The game software company reported $1.58 EPS 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.

Analyst Ratings Changes

EA has been the topic of several analyst reports. Citigroup raised their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. One 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 MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $206.50.

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.