Convergence Investment Partners LLC Acquires 4,263 Shares of Electronic Arts Inc. $EA

Convergence Investment Partners LLC grew its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 92.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,883 shares of the game software company’s stock after purchasing 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 SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Salomon & Ludwin LLC boosted its holdings in Electronic Arts by 70.1% in the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after acquiring an additional 68 shares in the last quarter. MTM Investment Management LLC purchased a new position in shares of Electronic Arts in the 2nd quarter worth about $30,000. Oakworth Capital Inc. bought a new position in Electronic Arts in the 3rd quarter worth about $30,000. Frazier Financial Advisors LLC grew its position in Electronic Arts by 328.9% during the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock valued at $31,000 after purchasing an additional 148 shares during the last quarter. Finally, NewSquare Capital LLC increased its stake in Electronic Arts by 67.5% during the 2nd quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock valued at $31,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EA. Zacks Research downgraded shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Argus set a $210.00 price objective on Electronic Arts in a research report on Thursday, October 30th. Citigroup lifted their target price on Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Morgan Stanley boosted their price target on Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Electronic Arts in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Electronic Arts has a consensus rating of “Hold” and a consensus price target of $187.19.

Electronic Arts Stock Performance

Shares of EA opened at $203.92 on Monday. The firm has a market capitalization of $51.00 billion, a P/E ratio of 59.63, a PEG ratio of 2.46 and a beta of 0.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84. Electronic Arts Inc. has a one year low of $120.22 and a one year high of $204.88. The business has a fifty day moving average of $203.83 and a 200 day moving average of $189.47.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $204.27, for a total transaction of $510,675.00. Following the completion of the sale, the insider directly owned 50,648 shares of the company’s stock, valued at approximately $10,345,866.96. This represents a 4.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 5,595 shares in the company, valued at $1,128,231.75. The trade was a 21.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 123,769 shares of company stock worth $24,943,734. 0.24% of the stock is owned by corporate insiders.

Electronic Arts Company 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.