Family Legacy Inc. Invests $671,000 in Electronic Arts Inc. $EA

Family Legacy Inc. acquired a new position in Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,274 shares of the game software company’s stock, valued at approximately $671,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pentwater Capital Management LP boosted its holdings in Electronic Arts by 128.1% in the fourth quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock worth $2,237,414,000 after acquiring an additional 6,150,000 shares in the last quarter. Norges Bank purchased a new stake in shares of Electronic Arts during the fourth quarter worth about $643,674,000. HBK Investments L P acquired a new position in shares of Electronic Arts during the fourth quarter valued at about $390,267,000. Ameriprise Financial Inc. increased its holdings 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 valued at $673,393,000 after acquiring an additional 1,300,336 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Electronic Arts in the 4th quarter valued at approximately $165,153,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Price Performance

NASDAQ:EA opened at $209.70 on Friday. The firm’s fifty day moving average is $206.60 and its two-hundred day moving average is $203.36. The firm has a market cap of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21. Electronic Arts Inc. has a one year low of $159.10 and a one year high of $210.20.

Wall Street Analyst Weigh In

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

Insider Transactions at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the sale, the insider owned 26,360 shares in the company, valued at $5,351,080. This represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were 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. This trade represents a 5.82% decrease in their ownership of the stock. 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 ninety days, insiders have sold 22,506 shares of company stock valued at $4,547,036. 0.24% of the stock is owned by 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.