Waterfront Wealth Inc. Sells 215 Shares of Electronic Arts Inc. $EA

Waterfront Wealth Inc. reduced its position in Electronic Arts Inc. (NASDAQ:EA) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,167 shares of the game software company’s stock after selling 215 shares during the quarter. Waterfront Wealth Inc.’s holdings in Electronic Arts were worth $1,145,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EA. Salomon & Ludwin LLC grew its position 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 worth $26,000 after buying an additional 68 shares during the period. Bank of Jackson Hole Trust boosted its position in 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 worth $30,000 after acquiring an additional 75 shares during the last quarter. Frazier Financial Advisors LLC raised 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 worth $31,000 after purchasing an additional 148 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Electronic Arts during the 1st quarter worth approximately $39,000. Finally, Costello Asset Management INC bought a new stake in shares of Electronic Arts during the 1st quarter worth approximately $40,000. 90.23% of the stock is owned by institutional investors.

Electronic Arts Stock Down 0.1%

Shares of NASDAQ EA opened at $200.30 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $203.75. The stock has a market capitalization of $50.12 billion, a PE ratio of 50.20, a P/E/G ratio of 3.05 and a beta of 0.77. The business’s fifty day moving average price is $184.46 and its 200-day moving average price is $163.83.

Insider Activity

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $171.52, for a total value of $205,824.00. Following the completion of the sale, the executive vice president owned 26,080 shares in the company, valued at approximately $4,473,241.60. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $171.05, for a total value of $855,250.00. Following the completion of the transaction, the chief executive officer owned 52,393 shares of the company’s stock, valued at approximately $8,961,822.65. The trade was a 8.71% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 41,900 shares of company stock worth $7,748,187. 0.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EA shares. Arete Research set a $192.00 price target on Electronic Arts in a research note on Tuesday, August 5th. Morgan Stanley increased their target price on Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Wells Fargo & Company set a $168.00 price objective on Electronic Arts and gave the company an “equal weight” rating in a research note on Monday, July 28th. Jefferies Financial Group lowered Electronic Arts from a “buy” rating to a “hold” rating and lifted their price target for the company from $200.00 to $210.00 in a research note on Tuesday, September 30th. Finally, Argus lifted their price objective on Electronic Arts from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $179.38.

About Electronic Arts

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.