Convergence Investment Partners LLC Raises Stock Holdings in Electronic Arts Inc. $EA

Convergence Investment Partners LLC grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 92.3% during the third quarter, Holdings Channel reports. The institutional investor owned 8,883 shares of the game software company’s stock after buying an additional 4,263 shares during the period. Convergence Investment Partners LLC’s holdings in Electronic Arts were worth $1,792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EA. Oakworth Capital Inc. bought a new stake in Electronic Arts during the 3rd quarter worth approximately $30,000. Principal Financial Group Inc. increased its stake in shares of Electronic Arts by 35.4% in the third quarter. Principal Financial Group Inc. now owns 390,971 shares of the game software company’s stock worth $78,859,000 after purchasing an additional 102,248 shares in the last quarter. Mutual Advisors LLC purchased a new stake in shares of Electronic Arts in the third quarter worth $221,000. Independent Advisor Alliance raised its position in shares of Electronic Arts by 15.0% during the 3rd quarter. Independent Advisor Alliance now owns 7,432 shares of the game software company’s stock valued at $1,499,000 after purchasing an additional 969 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its stake in shares of Electronic Arts by 26.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,588 shares of the game software company’s stock valued at $724,000 after buying an additional 741 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Trading Down 0.0%

Shares of EA stock opened at $203.92 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $51.00 billion, a price-to-earnings ratio of 59.63, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74. Electronic Arts Inc. has a 12-month low of $120.22 and a 12-month high of $204.88. The stock’s 50-day moving average price is $203.83 and its 200-day moving average price is $189.47.

Insider Buying and Selling at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $201.65, for a total transaction of $302,475.00. Following the sale, the chief financial officer owned 5,595 shares of the company’s stock, valued at $1,128,231.75. This represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeff Huber sold 16,788 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $200.72, for a total transaction of $3,369,687.36. Following the transaction, the director owned 1,980 shares of the company’s stock, valued at $397,425.60. This trade represents a 89.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 123,769 shares of company stock worth $24,943,734. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Electronic Arts in a research note on Wednesday, October 8th. Citigroup upped their price objective on Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Benchmark reiterated a “buy” rating on shares of Electronic Arts in a research report on Wednesday, October 29th. Argus set a $210.00 price target on Electronic Arts in a report on Thursday, October 30th. Finally, Zacks Research downgraded Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Electronic Arts presently has an average rating of “Hold” and an average price target of $187.19.

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.