Saudi Central Bank Has $3.23 Million Stake in Electronic Arts Inc. $EA

Saudi Central Bank increased its position in Electronic Arts Inc. (NASDAQ:EA) by 79.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,766 shares of the game software company’s stock after purchasing an additional 6,996 shares during the period. Saudi Central Bank’s holdings in Electronic Arts were worth $3,233,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in Electronic Arts during the second quarter worth $25,000. Ascentis Independent Advisors acquired a new position in shares of Electronic Arts during the first quarter valued at about $27,000. Torren Management LLC increased its position 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 worth $27,000 after acquiring an additional 94 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of Electronic Arts in the 4th quarter worth about $28,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Electronic Arts in the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ EA opened at $209.70 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.21 and a quick ratio of 1.05. The stock has a market capitalization of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. Electronic Arts Inc. has a one year low of $159.10 and a one year high of $210.20. The business’s fifty day moving average is $208.61 and its 200-day moving average is $204.29.

Electronic Arts (NASDAQ:EA) last posted 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 return on equity of 22.45% and a net margin of 13.80%.The company had revenue of $1.99 billion during the quarter.

Insider Transactions at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.10, for a total transaction of $507,750.00. Following the transaction, the insider directly owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. This trade represents a 3.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,000 shares of the business’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 sale, the chief executive officer owned 80,974 shares of the company’s stock, valued at $16,447,438.88. The trade was a 5.82% 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 90 days, insiders sold 8,700 shares of company stock valued at $1,766,950. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

About Electronic Arts

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.