Optimal Asset Management Inc. purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,499 shares of the game software company’s stock, valued at approximately $1,553,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EA. Hennessy Advisors Inc. bought a new stake in Electronic Arts during the 1st quarter valued at $2,413,000. MUFG Securities EMEA plc raised its holdings in Electronic Arts by 128.1% during the 4th quarter. MUFG Securities EMEA plc now owns 188,364 shares of the game software company’s stock worth $20,251,000 after buying an additional 105,800 shares during the period. Amundi Pioneer Asset Management Inc. raised its holdings in Electronic Arts by 43.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,172,666 shares of the game software company’s stock worth $341,093,000 after buying an additional 953,739 shares during the period. 1832 Asset Management L.P. acquired a new stake in Electronic Arts during the 4th quarter worth about $26,722,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Electronic Arts during the first quarter worth approximately $217,000. Institutional investors and hedge funds own 87.98% of the company’s stock.

Several research firms recently issued reports on EA. Barclays lifted their price objective on shares of Electronic Arts from $110.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, June 19th. Bank of America lifted their target price on shares of Electronic Arts from $116.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Cowen lifted their target price on shares of Electronic Arts from $119.00 to $129.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Electronic Arts from $125.00 to $127.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Piper Sandler upgraded shares of Electronic Arts to an “overweight” rating and lifted their target price for the stock from $126.00 to $133.00 in a report on Friday, June 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $128.75.

In related news, insider Vijayanthimala Singh sold 500 shares of Electronic Arts stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $98.38, for a total transaction of $49,190.00. Following the completion of the sale, the insider now directly owns 8,677 shares of the company’s stock, valued at $853,643.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $126.73, for a total value of $126,730.00. Following the sale, the general counsel now directly owns 26,435 shares of the company’s stock, valued at $3,350,107.55. The disclosure for this sale can be found here. Insiders sold a total of 220,152 shares of company stock valued at $25,181,682 over the last three months. Insiders own 2.18% of the company’s stock.

NASDAQ:EA traded down $0.94 on Friday, reaching $129.80. The stock had a trading volume of 59,552 shares, compared to its average volume of 3,126,511. The company has a market capitalization of $37.78 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 4.61 and a beta of 0.91. Electronic Arts Inc. has a 1-year low of $85.69 and a 1-year high of $133.60. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average price of $121.21 and a 200-day moving average price of $110.37.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, May 5th. The game software company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.36. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.17 billion. Electronic Arts had a net margin of 54.88% and a return on equity of 16.79%. Sell-side analysts predict that Electronic Arts Inc. will post 3.9 earnings per share for the current fiscal year.

Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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