Citizens Financial Group Inc. RI Buys New Shares in Electronic Arts Inc. $EA

Citizens Financial Group Inc. RI purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,969 shares of the game software company’s stock, valued at approximately $609,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Ascentis Independent Advisors bought a new position in shares of Electronic Arts in the 1st quarter valued at about $27,000. Torren Management LLC raised its holdings in shares of Electronic Arts by 235.0% in the 2nd quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after purchasing an additional 94 shares during the period. MV Capital Management Inc. acquired a new stake in Electronic Arts in the 4th quarter valued at about $28,000. Asset Planning Inc acquired a new stake in Electronic Arts in the 1st quarter valued at about $32,000. Finally, Whipplewood Advisors LLC bought a new position in Electronic Arts during the first quarter worth about $32,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the completion of the sale, the chief executive officer owned 80,974 shares of the company’s stock, valued at approximately $16,447,438.88. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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 completion of the sale, the insider directly 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 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 sold 8,700 shares of company stock valued at $1,766,950. Insiders own 0.24% of the company’s stock.

Electronic Arts Price Performance

Electronic Arts stock opened at $209.70 on Thursday. The stock has a market cap of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21. Electronic Arts Inc. has a twelve month low of $159.10 and a twelve month high of $210.20. The company’s 50-day moving average price is $207.00 and its two-hundred day moving average price is $203.47.

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

Wall Street Analysts Forecast Growth

EA has been the topic of a number of recent analyst reports. Zacks Research downgraded Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Citigroup boosted their target price on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $206.50.

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.