Gateway Investment Advisers LLC Acquires 14,600 Shares of Electronic Arts Inc. $EA

Gateway Investment Advisers LLC increased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 260.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,195 shares of the game software company’s stock after acquiring an additional 14,600 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Electronic Arts were worth $4,141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EA. Ascentis Independent Advisors purchased a new stake in shares of Electronic Arts in the 1st quarter worth about $27,000. Torren Management LLC lifted 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 purchasing an additional 94 shares in the last quarter. MV Capital Management Inc. bought a new position in Electronic Arts during the 4th quarter valued at about $28,000. Asset Planning Inc purchased a new stake in Electronic Arts in the first quarter worth approximately $32,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Electronic Arts in the first quarter worth $32,000. 90.23% of the stock is currently owned by institutional investors.

Insider Transactions at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total value of $302,040.00. Following the transaction, the chief financial officer directly owned 25,991 shares of the company’s stock, valued at approximately $5,233,547.76. The trade was a 5.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.10, for a total transaction of $507,750.00. Following the completion of the transaction, the insider directly owned 73,513 shares in the company, valued at $14,930,490.30. This trade represents a 3.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 31,206 shares of company stock valued at $6,292,058. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

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

Electronic Arts Price Performance

EA stock opened at $209.70 on Thursday. The business’s 50-day moving average price is $206.34 and its 200-day moving average price is $203.28. The stock 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 quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21. Electronic Arts Inc. has a twelve month low of $159.10 and a twelve month high of $210.20.

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.