Van ECK Associates Corp Sells 119,578 Shares of Electronic Arts Inc. $EA

Van ECK Associates Corp decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 29.9% in the 2nd quarter, Holdings Channel reports. The firm owned 280,980 shares of the game software company’s stock after selling 119,578 shares during the quarter. Van ECK Associates Corp’s holdings in Electronic Arts were worth $57,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in shares of Electronic Arts in the 2nd quarter valued at $25,000. Ascentis Independent Advisors bought a new position in Electronic Arts during the first quarter worth $27,000. Torren Management LLC raised its stake in Electronic Arts by 235.0% during the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock worth $27,000 after buying an additional 94 shares during the last quarter. MV Capital Management Inc. acquired a new position in Electronic Arts in the fourth quarter valued at $28,000. Finally, Meeder Asset Management Inc. acquired a new position in Electronic Arts in the second quarter valued at $31,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.00, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.10, for a total value of $507,750.00. Following the completion of the transaction, the insider owned 73,513 shares in the company, valued at approximately $14,930,490.30. This represents a 3.29% 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. Insiders sold a total of 8,700 shares of company stock worth $1,766,950 over the last quarter. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Stock Performance

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

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

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.