NewEdge Advisors LLC Grows Holdings in Electronic Arts Inc. $EA

NewEdge Advisors LLC raised its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 51.5% in the 1st quarter, Holdings Channel reports. The firm owned 9,054 shares of the game software company’s stock after purchasing an additional 3,078 shares during the quarter. NewEdge Advisors LLC’s holdings in Electronic Arts were worth $1,846,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EA. Ascentis Independent Advisors purchased a new stake in Electronic Arts in the 1st quarter valued at about $27,000. MV Capital Management Inc. purchased a new position in shares of Electronic Arts during the fourth quarter worth approximately $28,000. Asset Planning Inc purchased a new position in shares of Electronic Arts during the first quarter worth approximately $32,000. Whipplewood Advisors LLC bought a new stake in shares of Electronic Arts during the first quarter valued at approximately $32,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in shares of Electronic Arts during the fourth quarter valued at approximately $44,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,066 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total value of $1,021,609.56. Following the sale, the chief executive officer owned 85,974 shares of the company’s stock, valued at approximately $17,337,516.84. This represents a 5.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,506 shares of company stock valued at $4,547,036 over the last ninety days. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the topic of several research analyst reports. Zacks Research cut Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Wall Street Zen raised Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Citigroup increased their price target on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $206.50.

Electronic Arts Price Performance

Shares of EA opened at $209.70 on Friday. The company has a 50 day moving average price of $206.60 and a 200-day moving average price of $203.36. Electronic Arts Inc. has a fifty-two week low of $159.10 and a fifty-two week high of $210.20. The stock has a market capitalization of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21.

About Electronic Arts

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.