Commerce Bank Purchases Shares of 8,710 Electronic Arts Inc. $EA

Commerce Bank purchased a new stake in Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,710 shares of the game software company’s stock, valued at approximately $1,786,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ascentis Independent Advisors bought a new position in shares of Electronic Arts during the 1st quarter worth approximately $27,000. Torren Management LLC boosted its stake in Electronic Arts by 235.0% in the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after acquiring an additional 94 shares in the last quarter. MV Capital Management Inc. acquired a new stake in Electronic Arts in the fourth quarter valued at approximately $28,000. Meeder Asset Management Inc. purchased a new position in Electronic Arts in the second quarter worth $31,000. Finally, Asset Planning Inc purchased a new position in Electronic Arts in the first quarter worth $32,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a 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. Citigroup upped their target price on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research 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. Finally, Zacks Research downgraded Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Electronic Arts has an average rating of “Reduce” and an average target price of $206.50.

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.12, for a total value of $1,015,600.00. Following the sale, the chief executive officer owned 80,974 shares in the company, valued at $16,447,438.88. This represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 26,360 shares of the company’s stock, valued at $5,351,080. This 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 quarter. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Stock Performance

NASDAQ:EA opened at $209.70 on Wednesday. The company has a market capitalization of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.21. Electronic Arts Inc. has a 12 month low of $159.10 and a 12 month high of $210.20. The firm has a fifty day simple moving average of $207.53 and a 200-day simple moving average of $203.71.

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

Electronic Arts Profile

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.