Electronic Arts Inc. $EA Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 40.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 24,771 shares of the game software company’s stock after selling 16,923 shares during the quarter. Pacer Advisors Inc.’s holdings in Electronic Arts were worth $5,050,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ascentis Independent Advisors bought a new position in Electronic Arts during the first quarter valued at about $27,000. MV Capital Management Inc. bought a new stake in Electronic Arts in the fourth quarter worth about $28,000. Asset Planning Inc acquired a new stake in Electronic Arts in the 1st quarter valued at about $32,000. Whipplewood Advisors LLC acquired a new stake in Electronic Arts in the 1st quarter valued at about $32,000. Finally, Fideuram Asset Management Ireland dac bought a new position in shares of Electronic Arts during the 4th quarter valued at about $44,000. Institutional investors own 90.23% of the company’s stock.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Monday, June 15th. The shares were 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 in the company, valued at approximately $5,351,080. The trade was a 4.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the sale, the insider directly owned 73,513 shares in the company, valued at approximately $14,930,490.30. This trade represents a 3.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 31,206 shares of company stock worth $6,292,058. 0.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EA. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Citigroup raised their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Finally, Zacks Research cut 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, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $202.27.

Electronic Arts Stock Performance

Electronic Arts stock opened at $209.70 on Thursday. The firm’s 50 day simple moving average is $205.56 and its 200-day simple moving average is $203.08. The company has a market cap of $52.93 billion, a P/E ratio of 49.23, a price-to-earnings-growth ratio of 2.35 and a beta of 0.64. 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 Inc. has a fifty-two week low of $159.10 and a fifty-two week high of $210.20.

Trending Headlines about Electronic Arts

Here are the key news stories impacting Electronic Arts this week:

• Positive Sentiment: The completed transaction provides investors with a definitive cash exit at $210 per share, removing the uncertainty associated with the previously announced buyout. The deal also marks a premium-oriented valuation of the video-game publisher at roughly $55 billion. Saudi wealth fund and Jared Kushner finalize EA deal
• Positive Sentiment: EA’s latest reported quarter was stronger than expected, with earnings per share of $1.58 versus the $0.78 consensus estimate and revenue of $1.99 billion versus expectations of $1.46 billion. While the company is no longer publicly traded, the results indicate solid underlying operating performance at the time of the sale.
• Neutral Sentiment: EA is now privately owned, ending its public-market listing and eliminating the opportunity for ordinary investors to participate in future share-price gains or losses unless the company is later relisted. Jared Kushner’s Affinity Partners is among the consortium members. Video game maker EA bought by Saudi-led group
• Negative Sentiment: Reports suggest the new owners could pursue substantial cost reductions, including possible mass layoffs. These reports are not confirmed company guidance, but they raise questions about employee retention, development capacity and the effect on future game releases. EA Has Officially Been Sold

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.