Electronic Arts Inc. $EA is Harvest Management LLC’s Largest Position

Harvest Management LLC grew its position in Electronic Arts Inc. (NASDAQ:EA) by 8.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 199,500 shares of the game software company’s stock after acquiring an additional 15,600 shares during the quarter. Electronic Arts comprises approximately 16.1% of Harvest Management LLC’s portfolio, making the stock its biggest position. Harvest Management LLC’s holdings in Electronic Arts were worth $40,905,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Jones Financial Companies Lllp purchased a new stake in Electronic Arts in the 2nd quarter valued at $25,000. Ascentis Independent Advisors acquired a new stake in Electronic Arts during the 1st quarter worth $27,000. Torren Management LLC grew its position in Electronic Arts by 235.0% during the 2nd quarter. Torren Management LLC now owns 134 shares of the game software company’s stock worth $27,000 after purchasing an additional 94 shares during the last quarter. MV Capital Management Inc. purchased a new position in Electronic Arts during the 4th quarter worth $28,000. Finally, Meeder Asset Management Inc. acquired a new position in Electronic Arts in the second quarter valued at $31,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup upped their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Argus downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Zacks Research cut Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One 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. Based on data from MarketBeat, Electronic Arts currently has an average rating of “Reduce” and a consensus target price of $206.50.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the transaction, the chief executive officer owned 80,974 shares of the company’s stock, valued at $16,447,438.88. This represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 on Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the sale, the insider owned 26,360 shares in the company, valued at $5,351,080. The trade was 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 three months, insiders sold 8,700 shares of company stock valued at $1,766,950. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $209.70 on Friday. The firm has a market cap of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. Electronic Arts Inc. has a 52-week low of $159.10 and a 52-week high of $210.20. The company’s 50-day simple moving average is $207.97 and its 200-day simple moving average is $203.90. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21.

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

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.