Econ Financial Services Corp Makes New $1.82 Million Investment in Electronic Arts Inc. $EA

Econ Financial Services Corp purchased a new position in Electronic Arts Inc. (NASDAQ:EA) in the second quarter, HoldingsChannel.com reports. The firm purchased 11,416 shares of the game software company’s stock, valued at approximately $1,823,000.

Several other institutional investors have also recently made changes to their positions in EA. Ameriprise Financial Inc. grew its position in shares of Electronic Arts by 197.5% during the first quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company’s stock worth $421,524,000 after purchasing an additional 1,936,313 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Electronic Arts during the first quarter worth about $225,102,000. Nuveen LLC purchased a new stake in shares of Electronic Arts during the first quarter worth about $203,537,000. Goldman Sachs Group Inc. grew its position in shares of Electronic Arts by 62.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company’s stock worth $470,197,000 after purchasing an additional 1,254,194 shares in the last quarter. Finally, ING Groep NV grew its position in shares of Electronic Arts by 3,477.8% during the first quarter. ING Groep NV now owns 1,163,747 shares of the game software company’s stock worth $168,185,000 after purchasing an additional 1,131,220 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

EA has been the subject of several research analyst reports. UBS Group set a $210.00 target price on Electronic Arts and gave the stock a “neutral” rating in a research report on Tuesday, September 30th. Roth Capital cut Electronic Arts from a “buy” rating to a “neutral” rating and increased their target price for the stock from $185.00 to $210.00 in a research report on Thursday, October 2nd. Hsbc Global Res cut Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Arete Research set a $192.00 price target on Electronic Arts in a research note on Tuesday, August 5th. Finally, Wedbush reissued a “neutral” rating and set a $200.00 price target on shares of Electronic Arts in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Electronic Arts has an average rating of “Hold” and a consensus target price of $179.38.

Insiders Place Their Bets

In other news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $201.79, for a total value of $504,475.00. Following the completion of the sale, the insider directly owned 53,092 shares of the company’s stock, valued at $10,713,434.68. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $200.55, for a total value of $1,002,750.00. Following the completion of the sale, the chief executive officer directly owned 42,393 shares of the company’s stock, valued at $8,501,916.15. The trade was a 10.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 41,900 shares of company stock worth $7,748,187. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Price Performance

Shares of Electronic Arts stock opened at $200.30 on Wednesday. The firm has a market cap of $50.12 billion, a PE ratio of 50.20, a PEG 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 stock has a 50 day moving average of $184.46 and a 200 day moving average of $163.83. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Company 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.