Summit Global Investments Boosts Stock Holdings in Electronic Arts Inc. $EA

Summit Global Investments grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 193.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,375 shares of the game software company’s stock after buying an additional 11,457 shares during the period. Summit Global Investments’ holdings in Electronic Arts were worth $3,505,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in EA. AE Wealth Management LLC boosted its holdings in Electronic Arts by 45.6% in the third quarter. AE Wealth Management LLC now owns 14,994 shares of the game software company’s stock valued at $3,025,000 after acquiring an additional 4,695 shares during the last quarter. Tidemark LLC purchased a new position in shares of Electronic Arts in the 3rd quarter worth about $50,000. Addison Capital Co lifted its stake in shares of Electronic Arts by 13.1% in the 3rd quarter. Addison Capital Co now owns 4,071 shares of the game software company’s stock valued at $821,000 after purchasing an additional 473 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Electronic Arts during the 3rd quarter worth about $1,025,000. Finally, Flossbach Von Storch SE purchased a new stake in shares of Electronic Arts during the 3rd quarter worth about $893,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EA has been the topic of a number of recent research reports. Zacks Research cut shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Morgan Stanley raised their target price on shares of Electronic Arts from $148.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Roth Mkm cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and upped their price target for the stock from $185.00 to $210.00 in a research report on Thursday, October 2nd. Citigroup increased their price target on Electronic Arts from $206.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Argus set a $210.00 price objective on Electronic Arts in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $187.19.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $204.30, for a total transaction of $245,160.00. Following the completion of the sale, the insider owned 32,360 shares of the company’s stock, valued at approximately $6,611,148. This trade represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $201.65, for a total transaction of $302,475.00. Following the completion of the sale, the chief financial officer owned 5,595 shares of the company’s stock, valued at approximately $1,128,231.75. This trade represents a 21.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 123,769 shares of company stock worth $24,943,734. 0.24% of the stock is currently owned by insiders.

Electronic Arts Stock Up 0.0%

Shares of NASDAQ EA opened at $203.95 on Friday. The firm has a market cap of $51.01 billion, a price-to-earnings ratio of 59.63, a PEG ratio of 2.46 and a beta of 0.73. Electronic Arts Inc. has a 1 year low of $116.29 and a 1 year high of $204.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s 50-day simple moving average is $203.76 and its 200-day simple moving average is $188.53.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, October 28th. The game software company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business earned $1.11 EPS. Electronic Arts’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, equities analysts anticipate that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

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.