Rakuten Investment Management Inc. Buys Shares of 56,239 Electronic Arts Inc. $EA

Rakuten Investment Management Inc. purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,239 shares of the game software company’s stock, valued at approximately $11,532,000.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Electronic Arts during the 2nd quarter worth $5,125,838,000. Public Investment Fund acquired a new stake in shares of Electronic Arts during the second quarter valued at about $5,086,618,377. Pentwater Capital Management LP acquired a new stake in shares of Electronic Arts during the second quarter valued at about $2,762,914,000. Norges Bank bought a new stake in shares of Electronic Arts during the fourth quarter worth about $643,674,000. Finally, HBK Investments L P bought a new stake in shares of Electronic Arts during the fourth quarter worth about $390,267,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

EA stock opened at $209.70 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21. The firm has a market cap of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The company’s fifty day simple moving average is $207.97 and its 200 day simple moving average is $203.90. Electronic Arts Inc. has a 12-month low of $159.10 and a 12-month high of $210.20.

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

Analyst Upgrades and Downgrades

EA has been the subject of a number of research reports. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Finally, 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 report on Thursday, May 7th. One investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $206.50.

Insider Buying and Selling

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.10, for a total value of $507,750.00. Following the completion of the sale, the insider directly owned 73,513 shares in the company, valued at approximately $14,930,490.30. The trade was a 3.29% decrease in their ownership of the stock. 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, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 26,360 shares in the company, valued at approximately $5,351,080. This trade represents a 4.35% decrease in their ownership of the stock. 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 sold 8,700 shares of company stock valued at $1,766,950 over the last 90 days. Company insiders own 0.24% of the company’s stock.

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.