Electronic Arts Inc. $EA Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Electronic Arts Inc. (NASDAQ:EA) by 29.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,645 shares of the game software company’s stock after purchasing an additional 2,675 shares during the quarter. GAMMA Investing LLC’s holdings in Electronic Arts were worth $2,388,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EA. Vanguard Group Inc. boosted its holdings in Electronic Arts by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 28,773,086 shares of the game software company’s stock worth $5,879,205,000 after acquiring an additional 485,030 shares during the period. Pentwater Capital Management LP raised its stake in shares of Electronic Arts by 128.1% during the fourth quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock valued at $2,237,414,000 after purchasing an additional 6,150,000 shares during the period. Geode Capital Management LLC raised its stake in shares of Electronic Arts by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company’s stock valued at $1,382,030,000 after purchasing an additional 143,195 shares during the period. Invesco Ltd. lifted its position in shares of Electronic Arts by 4.9% during the third quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock worth $870,328,000 after purchasing an additional 202,657 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Electronic Arts by 44.6% during the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock worth $673,393,000 after purchasing an additional 1,300,336 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

EA stock opened at $209.70 on Thursday. Electronic Arts Inc. has a twelve month low of $159.10 and a twelve month high of $210.20. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $52.93 billion, a P/E ratio of 49.23, a PEG ratio of 2.35 and a beta of 0.64. The firm has a 50 day simple moving average of $205.56 and a 200-day simple moving average of $203.08.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Citigroup boosted their price objective 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. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Electronic Arts currently has an average rating of “Reduce” and an average price target of $202.27.

Insider Transactions at Electronic Arts

In other news, EVP Jacob J. Schatz sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total value of $1,005,950.00. Following the completion of the sale, the executive vice president owned 42,287 shares of the company’s stock, valued at approximately $8,507,721.53. The trade was a 10.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 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 completion of the sale, the insider directly owned 73,513 shares of the company’s stock, valued at $14,930,490.30. The trade was 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. Insiders sold a total of 31,206 shares of company stock valued at $6,292,058 over the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts News Roundup

Here are the key news stories impacting Electronic Arts this week:

• Positive Sentiment: The completed transaction provides investors with a definitive cash exit at $210 per share, removing the uncertainty associated with the previously announced buyout. The deal also marks a premium-oriented valuation of the video-game publisher at roughly $55 billion. Saudi wealth fund and Jared Kushner finalize EA deal
• Positive Sentiment: EA’s latest reported quarter was stronger than expected, with earnings per share of $1.58 versus the $0.78 consensus estimate and revenue of $1.99 billion versus expectations of $1.46 billion. While the company is no longer publicly traded, the results indicate solid underlying operating performance at the time of the sale.
• Neutral Sentiment: EA is now privately owned, ending its public-market listing and eliminating the opportunity for ordinary investors to participate in future share-price gains or losses unless the company is later relisted. Jared Kushner’s Affinity Partners is among the consortium members. Video game maker EA bought by Saudi-led group
• Negative Sentiment: Reports suggest the new owners could pursue substantial cost reductions, including possible mass layoffs. These reports are not confirmed company guidance, but they raise questions about employee retention, development capacity and the effect on future game releases. EA Has Officially Been Sold

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.