Carnegie Investment Counsel Sells 650 Shares of Electronic Arts Inc. $EA

Carnegie Investment Counsel cut its holdings in Electronic Arts Inc. (NASDAQ:EA) by 13.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,160 shares of the game software company’s stock after selling 650 shares during the quarter. Carnegie Investment Counsel’s holdings in Electronic Arts were worth $664,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Salomon & Ludwin LLC boosted its stake in Electronic Arts by 70.1% in the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock valued at $26,000 after acquiring an additional 68 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Electronic Arts by 3.7% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,023 shares of the game software company’s stock valued at $323,000 after acquiring an additional 72 shares during the last quarter. Bank of Jackson Hole Trust boosted its stake in Electronic Arts by 56.4% in the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock valued at $30,000 after acquiring an additional 75 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in Electronic Arts by 13.6% in the second quarter. Financial Management Professionals Inc. now owns 636 shares of the game software company’s stock valued at $102,000 after acquiring an additional 76 shares during the last quarter. Finally, Conning Inc. boosted its stake in Electronic Arts by 4.7% in the first quarter. Conning Inc. now owns 1,749 shares of the game software company’s stock valued at $253,000 after acquiring an additional 78 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

Electronic Arts Trading Up 0.1%

EA opened at $200.84 on Friday. The stock has a market capitalization of $50.25 billion, a P/E ratio of 50.34, a P/E/G ratio of 3.05 and a beta of 0.77. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $203.75. The firm’s fifty day simple moving average is $183.25 and its 200 day simple moving average is $162.78. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24.

Insiders Place Their Bets

In related news, CFO Stuart Canfield sold 6,500 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the sale, the chief financial officer directly owned 5,140 shares of the company’s stock, valued at approximately $1,045,476. The trade was a 55.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $200.55, for a total transaction of $1,002,750.00. Following the completion of the sale, the chief executive officer directly owned 42,393 shares in the company, valued at $8,501,916.15. This represents a 10.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,900 shares of company stock worth $7,748,187 in the last ninety days. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EA shares. DA Davidson lifted their price target on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Oppenheimer cut shares of Electronic Arts from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 30th. Morgan Stanley lifted their price target on shares of Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Bank of America lifted their price target on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Finally, Citigroup reissued a “neutral” rating on shares of Electronic Arts in a research report on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $179.38.

Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.