Assenagon Asset Management S.A. Increases Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Assenagon Asset Management S.A. boosted its stake in Electronic Arts Inc. (NASDAQ:EA) by 5.7% during the third quarter, HoldingsChannel reports. The firm owned 86,368 shares of the game software company’s stock after buying an additional 4,689 shares during the period. Assenagon Asset Management S.A.’s holdings in Electronic Arts were worth $12,389,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. IFM Investors Pty Ltd grew its holdings in shares of Electronic Arts by 2.3% in the third quarter. IFM Investors Pty Ltd now owns 65,443 shares of the game software company’s stock worth $9,387,000 after purchasing an additional 1,476 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Electronic Arts by 27.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 2,605 shares of the game software company’s stock worth $374,000 after purchasing an additional 556 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Electronic Arts in the third quarter worth approximately $3,313,000. Fulcrum Capital LLC boosted its holdings in Electronic Arts by 1.0% in the third quarter. Fulcrum Capital LLC now owns 43,906 shares of the game software company’s stock valued at $6,298,000 after acquiring an additional 418 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in Electronic Arts in the third quarter valued at $209,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Up 0.1 %

Shares of NASDAQ EA opened at $145.20 on Monday. The firm’s 50-day moving average price is $145.01 and its 200-day moving average price is $139.65. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $38.36 billion, a price-to-earnings ratio of 34.16, a P/E/G ratio of 1.97 and a beta of 0.79. Electronic Arts Inc. has a 12-month low of $119.92 and a 12-month high of $153.51.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. On average, equities research analysts anticipate that Electronic Arts Inc. will post 5.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EA has been the topic of several recent analyst reports. Oppenheimer lifted their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Citigroup cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and lifted their price target for the company from $148.00 to $161.00 in a report on Monday, July 15th. Stifel Nicolaus lifted their price target on shares of Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $160.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. Finally, Benchmark reissued a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.76.

Insider Activity at Electronic Arts

In related news, Director Luis A. Ubinas sold 2,126 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $146.77, for a total transaction of $312,033.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total value of $353,750.00. Following the transaction, the chief executive officer now directly owns 54,247 shares in the company, valued at $7,675,950.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Luis A. Ubinas sold 2,126 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $146.77, for a total transaction of $312,033.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,270 shares of company stock worth $3,287,735. Insiders own 0.22% of the company’s stock.

Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.