Handelsbanken Fonder AB Reduces Stake in Electronic Arts Inc. $EA

Handelsbanken Fonder AB trimmed its position in Electronic Arts Inc. (NASDAQ:EA) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,569 shares of the game software company’s stock after selling 2,426 shares during the period. Handelsbanken Fonder AB’s holdings in Electronic Arts were worth $16,110,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Ascentis Independent Advisors bought a new position in shares of Electronic Arts in the 1st quarter worth $27,000. MV Capital Management Inc. purchased a new stake in shares of Electronic Arts during the 4th quarter valued at $28,000. Asset Planning Inc bought a new stake in shares of Electronic Arts during the 1st quarter worth $32,000. Whipplewood Advisors LLC bought a new stake in shares of Electronic Arts during the 1st quarter worth $32,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in Electronic Arts in the fourth quarter worth $44,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,200 shares of the 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 sale, the insider directly owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. This represents a 4.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,066 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the completion of the transaction, the chief executive officer owned 85,974 shares in the company, valued at approximately $17,337,516.84. This represents a 5.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 31,206 shares of company stock valued at $6,292,058. 0.24% of the stock is currently owned by insiders.

Electronic Arts Stock Performance

NASDAQ:EA opened at $209.70 on Thursday. 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 debt-to-equity ratio of 0.21, a current ratio of 1.21 and a quick ratio of 1.05. Electronic Arts Inc. has a one year low of $159.10 and a one year high of $210.20. The company’s 50-day simple moving average is $206.34 and its 200 day simple moving average is $203.28.

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.