One68 Global Capital LLC Buys New Position in Electronic Arts Inc. $EA

One68 Global Capital LLC bought a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the second quarter, HoldingsChannel reports. The institutional investor bought 14,603 shares of the game software company’s stock, valued at approximately $2,994,000. Electronic Arts makes up about 6.3% of One68 Global Capital LLC’s portfolio, making the stock its 4th largest position.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Electronic Arts during the 2nd quarter worth $5,125,838,000. Public Investment Fund bought a new position in Electronic Arts in the 2nd quarter worth $5,086,618,377,000. Pentwater Capital Management LP bought a new position in Electronic Arts in the 2nd quarter worth $2,762,914,000. Norges Bank purchased a new position in Electronic Arts during the fourth quarter valued at $643,674,000. Finally, HBK Investments L P purchased a new position in Electronic Arts during the fourth quarter valued at $390,267,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Performance

Shares of EA opened at $209.70 on Friday. The firm 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 1 year low of $159.10 and a 1 year high of $210.20. The company has a 50 day simple moving average of $207.82 and a two-hundred day simple moving average of $203.86.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share for the quarter. The company had revenue of $1.99 billion during the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%.

Insider Buying and Selling at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.10, for a total value of $507,750.00. Following the sale, the insider owned 73,513 shares in the company, valued at approximately $14,930,490.30. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the completion of the sale, the insider owned 26,360 shares in the company, valued at approximately $5,351,080. This trade represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,700 shares of company stock worth $1,766,950 in the last quarter. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.