Convergence Investment Partners LLC Acquires Shares of 4,620 Electronic Arts Inc. $EA

Convergence Investment Partners LLC acquired a new stake in Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,620 shares of the game software company’s stock, valued at approximately $738,000.

Other hedge funds have also recently modified their holdings of the company. Salomon & Ludwin LLC boosted its stake in shares of Electronic Arts by 70.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock valued at $26,000 after purchasing an additional 68 shares in the last quarter. Frazier Financial Advisors LLC boosted its stake in shares of Electronic Arts by 328.9% during the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock valued at $31,000 after purchasing an additional 148 shares in the last quarter. Bank of Jackson Hole Trust boosted its stake in shares of Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Electronic Arts by 47.6% during the 2nd quarter. ORG Partners LLC now owns 251 shares of the game software company’s stock valued at $40,000 after purchasing an additional 81 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Trading Down 0.2%

Shares of NASDAQ EA opened at $200.50 on Tuesday. The firm’s 50 day moving average price is $183.87 and its 200-day moving average price is $163.41. The company has a market cap of $50.17 billion, a PE ratio of 50.25, a P/E/G ratio of 3.05 and a beta of 0.77. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $203.75. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84.

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.49, for a total value of $388,725.00. Following the transaction, the insider owned 58,092 shares in the company, valued at approximately $9,032,725.08. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stuart Canfield sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the completion of the transaction, the chief financial officer owned 5,140 shares in the company, valued at approximately $1,045,476. This represents a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,900 shares of company stock valued at $7,748,187. 0.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EA has been the topic of a number of research reports. Roth Capital lowered shares of Electronic Arts from a “buy” rating to a “neutral” rating and lifted their target price for the company from $185.00 to $210.00 in a research note on Thursday, October 2nd. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the company an “equal weight” rating in a research note on Monday, July 28th. Jefferies Financial Group lowered shares of Electronic Arts from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $200.00 to $210.00 in a research note on Tuesday, September 30th. UBS Group set a $210.00 price objective on shares of Electronic Arts and gave the stock a “neutral” rating in a research note on Tuesday, September 30th. Finally, Cowen lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $179.38.

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.