Ieq Capital LLC Acquires Shares of 30,568 Electronic Arts Inc. $EA

Ieq Capital LLC purchased a new position in Electronic Arts Inc. (NASDAQ:EA) in the 2nd quarter, HoldingsChannel reports. The firm purchased 30,568 shares of the game software company’s stock, valued at approximately $6,268,000.

Several other large investors also recently added to or reduced their stakes in the stock. Ascentis Independent Advisors purchased a new position in shares of Electronic Arts during the first quarter worth approximately $27,000. Torren Management LLC raised its stake in shares of Electronic Arts by 235.0% during the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after acquiring an additional 94 shares in the last quarter. MV Capital Management Inc. purchased a new stake in shares of Electronic Arts in the fourth quarter valued at approximately $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Electronic Arts in the second quarter valued at approximately $31,000. Finally, Asset Planning Inc bought a new position in Electronic Arts in the first quarter worth approximately $32,000. 90.23% of the stock is owned by institutional investors.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $209.70 on Monday. The company has a 50 day moving average price of $207.27 and a 200 day moving average price of $203.56. The firm has a market capitalization of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. 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 Inc. has a 52 week low of $159.10 and a 52 week high of $210.20.

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

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of the 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 sale, the chief executive officer directly owned 80,974 shares of the company’s stock, valued at $16,447,438.88. This represents a 5.82% decrease in their position. The transaction 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 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. This represents 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. Insiders have sold 8,700 shares of company stock worth $1,766,950 over the last quarter. 0.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.