Mitsubishi UFJ Asset Management Co. Ltd. Invests $117.69 Million in Electronic Arts Inc. $EA

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Electronic Arts Inc. (NASDAQ:EA) during the second quarter, HoldingsChannel.com reports. The fund bought 574,005 shares of the game software company’s stock, valued at approximately $117,694,000.

Other hedge funds also recently modified their holdings of the company. Pentwater Capital Management LP raised its position in shares of Electronic Arts by 128.1% in the fourth quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock valued at $2,237,414,000 after buying an additional 6,150,000 shares during the last quarter. Norges Bank purchased a new position in shares of Electronic Arts during the fourth quarter valued at approximately $643,674,000. HBK Investments L P acquired a new stake in Electronic Arts during the fourth quarter worth approximately $390,267,000. Bank of New York Mellon Corp acquired a new stake in Electronic Arts during the second quarter worth approximately $269,846,000. Finally, Ameriprise Financial Inc. grew its stake in Electronic Arts by 44.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock worth $673,393,000 after acquiring an additional 1,300,336 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Electronic Arts Stock Performance

NASDAQ EA opened at $209.70 on Wednesday. The firm has a market capitalization of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21. Electronic Arts Inc. has a one year low of $159.10 and a one year high of $210.20. The company’s 50 day moving average price is $206.87 and its 200 day moving average price is $203.43.

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

Insider Activity at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the completion of the sale, the insider directly owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 on Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the sale, the insider owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. This represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 13,766 shares of company stock worth $2,788,560. 0.24% of the stock is currently owned by corporate insiders.

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.