Hsbc Holdings PLC Purchases Shares of 1,807,224 Electronic Arts Inc. $EA

Hsbc Holdings PLC acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the second quarter, Holdings Channel reports. The fund acquired 1,807,224 shares of the game software company’s stock, valued at approximately $370,945,000.

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in Electronic Arts during the 2nd quarter worth approximately $25,000. Ascentis Independent Advisors acquired a new stake in Electronic Arts in the first quarter valued at approximately $27,000. Torren Management LLC increased its holdings in shares of Electronic Arts by 235.0% during the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after acquiring an additional 94 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of Electronic Arts during the fourth quarter worth approximately $28,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Electronic Arts during the second quarter worth approximately $31,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

Shares of EA stock opened at $209.70 on Wednesday. The firm has a 50-day moving average of $207.53 and a 200-day moving average of $203.71. The company has a market cap of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.21 and a quick ratio of 1.05. Electronic Arts Inc. has a one year low of $159.10 and a one year high of $210.20.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share 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 for the quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on EA shares. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. 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. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Zacks Research downgraded Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $206.50.

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.12, for a total value of $1,015,600.00. Following the completion of the transaction, the chief executive officer directly owned 80,974 shares of the company’s stock, valued at $16,447,438.88. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 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 sale, the insider directly 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. Insiders have sold 8,700 shares of company stock worth $1,766,950 in the last 90 days. Insiders own 0.24% of the company’s stock.

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.