Cibc World Market Inc. Takes Position in Electronic Arts Inc. $EA

Cibc World Market Inc. purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 120,245 shares of the game software company’s stock, valued at approximately $24,655,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EA. BlackRock Inc. purchased a new position in Electronic Arts in the second quarter valued at $5,125,838,000. Pentwater Capital Management LP increased its stake in Electronic Arts by 128.1% during the 4th quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock worth $2,237,414,000 after buying an additional 6,150,000 shares in the last quarter. Norges Bank acquired a new position in Electronic Arts in the 4th quarter valued at $643,674,000. HBK Investments L P acquired a new stake in shares of Electronic Arts in the fourth quarter valued at about $390,267,000. Finally, Bank of New York Mellon Corp acquired a new stake in Electronic Arts in the 2nd quarter valued at about $269,846,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $209.70 on Monday. The stock has a market cap of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. Electronic Arts Inc. has a 52-week low of $159.10 and a 52-week high of $210.20. The business has a 50-day moving average price of $207.27 and a 200 day moving average price of $203.56. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Monday, August 3rd. The game software company reported $1.58 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 for the quarter.

Insider Buying and Selling at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the transaction, the chief executive officer directly owned 80,974 shares in the company, valued at $16,447,438.88. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the transaction, the insider owned 26,360 shares in the company, valued at $5,351,080. The trade was a 4.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EA has been the topic of several analyst reports. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Citigroup raised their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Finally, Zacks Research downgraded shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $206.50.

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.