Gateway Investment Advisers LLC Raises Stock Holdings in Electronic Arts Inc. $EA

Gateway Investment Advisers LLC boosted its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 260.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,195 shares of the game software company’s stock after purchasing 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 SEC filing.

Other institutional investors have also modified their holdings of the company. Ascentis Independent Advisors purchased a new position in shares of Electronic Arts in the 1st quarter worth approximately $27,000. Torren Management LLC raised its holdings in Electronic Arts by 235.0% during the 2nd quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after buying an additional 94 shares during the period. MV Capital Management Inc. purchased a new stake in Electronic Arts during the 4th quarter valued at $28,000. Asset Planning Inc bought a new stake in Electronic Arts in the first quarter worth $32,000. Finally, Whipplewood Advisors LLC bought a new stake in Electronic Arts in the first quarter worth $32,000. 90.23% of the stock is owned by institutional investors.

Electronic Arts Price Performance

NASDAQ:EA opened at $209.70 on Thursday. The company has a market cap of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. 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 stock has a fifty day simple moving average of $206.34 and a 200-day simple moving average of $203.28.

Wall Street Analysts Forecast Growth

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

Insider Activity at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction dated Monday, June 15th. The shares were 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 $5,351,080. This trade represents a 4.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $1,005,950.00. Following the completion of the sale, the executive vice president directly owned 42,287 shares of the company’s stock, valued at approximately $8,507,721.53. This trade represents a 10.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 31,206 shares of company stock worth $6,292,058 over the last ninety days. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Company 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.