NewEdge Advisors LLC Purchases 3,078 Shares of Electronic Arts Inc. $EA

NewEdge Advisors LLC raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 51.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,054 shares of the game software company’s stock after acquiring an additional 3,078 shares during the period. NewEdge Advisors LLC’s holdings in Electronic Arts were worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its position in Electronic Arts by 26.7% in the first quarter. Cornerstone Planning Group LLC now owns 242 shares of the game software company’s stock worth $49,000 after purchasing an additional 51 shares during the last quarter. Optas LLC raised its stake in Electronic Arts by 4.2% during the first quarter. Optas LLC now owns 1,332 shares of the game software company’s stock valued at $272,000 after purchasing an additional 54 shares in the last quarter. Salomon & Ludwin LLC lifted its position in Electronic Arts by 32.8% during the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC lifted its position in Electronic Arts by 6.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company’s stock valued at $218,000 after purchasing an additional 62 shares during the last quarter. Finally, Candriam S.C.A. grew its stake in shares of Electronic Arts by 0.3% in the 1st quarter. Candriam S.C.A. now owns 24,685 shares of the game software company’s stock worth $5,033,000 after buying an additional 65 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock 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. Electronic Arts Inc. has a twelve month low of $159.10 and a twelve month high of $210.20. The stock has a market capitalization of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The firm’s fifty day simple moving average is $206.60 and its two-hundred day simple moving average is $203.36.

Insider Activity

In related news, CEO Andrew Wilson sold 5,066 shares of Electronic Arts stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the completion of the transaction, the chief executive officer directly owned 85,974 shares of the company’s stock, valued at approximately $17,337,516.84. The trade was a 5.56% decrease in their position. The transaction 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stuart Canfield sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the transaction, the chief financial officer owned 25,991 shares in the company, valued at $5,233,547.76. The trade was a 5.46% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 22,506 shares of company stock worth $4,547,036 in the last 90 days. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.