Family Legacy Inc. Purchases New Holdings in Electronic Arts Inc. $EA

Family Legacy Inc. acquired a new position in Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, HoldingsChannel reports. The fund acquired 3,274 shares of the game software company’s stock, valued at approximately $671,000.

Several other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Electronic Arts by 9.4% during the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after purchasing an additional 294 shares in the last quarter. Empowered Funds LLC lifted its holdings in Electronic Arts by 167.0% in the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after purchasing an additional 12,076 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Electronic Arts by 150.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after purchasing an additional 190 shares in the last quarter. Jump Financial LLC acquired a new stake in Electronic Arts during the 2nd quarter worth $2,323,000. Finally, NewEdge Advisors LLC boosted its stake in Electronic Arts by 96.4% during the 2nd quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after purchasing an additional 1,505 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. 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. Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Finally, 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 research note on Thursday, May 7th. One analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Electronic Arts has an average rating of “Reduce” and an average target price of $206.50.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $209.70 on Friday. Electronic Arts Inc. has a 52-week low of $159.10 and a 52-week high of $210.20. The stock has a market cap of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. The business has a fifty day moving average of $206.60 and a two-hundred day moving average of $203.36. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21.

Insider Activity

In other news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the transaction, the insider owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. The trade was a 3.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the sale, the executive vice president directly owned 42,287 shares of the company’s stock, valued at $8,507,721.53. This represents a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 22,506 shares of company stock worth $4,547,036. Insiders own 0.24% of the company’s stock.

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.