Korea Investment CORP Makes New Investment in Electronic Arts Inc. $EA

Korea Investment CORP purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 122,174 shares of the game software company’s stock, valued at approximately $25,051,000.

A number of other hedge funds have also recently modified their holdings of the business. Resona Asset Management Co. Ltd. lifted its position in shares of Electronic Arts by 12.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 108,908 shares of the game software company’s stock valued at $22,185,000 after buying an additional 12,095 shares in the last quarter. Swiss National Bank increased its holdings in Electronic Arts by 8.0% in the 1st quarter. Swiss National Bank now owns 704,400 shares of the game software company’s stock worth $143,606,000 after acquiring an additional 51,900 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in Electronic Arts during the 4th quarter worth approximately $2,043,000. Generali Asset Management SPA SGR raised its stake in Electronic Arts by 76.3% during the 4th quarter. Generali Asset Management SPA SGR now owns 29,530 shares of the game software company’s stock worth $6,034,000 after acquiring an additional 12,777 shares during the period. Finally, Norges Bank purchased a new position in Electronic Arts during the fourth quarter valued at approximately $643,674,000. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

NASDAQ EA opened at $209.70 on Monday. Electronic Arts Inc. has a 12 month low of $159.10 and a 12 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 market cap of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. The stock’s 50 day moving average is $207.27 and its 200 day moving average is $203.56.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Citigroup upped 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. 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, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $206.50.

Insider Buying and Selling at Electronic Arts

In other 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 completion of the transaction, the insider owned 73,513 shares in the company, valued at $14,930,490.30. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 Electronic Arts stock in a transaction dated 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 directly owned 80,974 shares in the company, 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. In the last ninety days, insiders have sold 8,700 shares of company stock worth $1,766,950. Insiders own 0.24% of the company’s stock.

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.