Korea Investment CORP Purchases New Shares in Electronic Arts Inc. $EA

Korea Investment CORP bought a new stake in Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, HoldingsChannel reports. The fund bought 122,174 shares of the game software company’s stock, valued at approximately $25,051,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Electronic Arts during the second quarter worth $5,125,838,000. Pentwater Capital Management LP lifted its position in shares of Electronic Arts by 128.1% in the 4th quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock worth $2,237,414,000 after purchasing an additional 6,150,000 shares during the period. Norges Bank purchased a new stake in Electronic Arts during the fourth quarter worth $643,674,000. HBK Investments L P bought a new stake in Electronic Arts during the fourth quarter valued at about $390,267,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Electronic Arts during the 2nd quarter worth approximately $269,846,000. 90.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Monday, June 15th. The stock was 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 of the company’s stock, valued at approximately $14,930,490.30. This trade represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.12, for a total value of $1,015,600.00. Following the transaction, the chief executive officer owned 80,974 shares of the company’s stock, valued at $16,447,438.88. The trade was a 5.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 8,700 shares of company stock valued at $1,766,950. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

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

Electronic Arts Price Performance

EA stock opened at $209.70 on Monday. The company has a market capitalization of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. Electronic Arts Inc. has a 12 month low of $159.10 and a 12 month high of $210.20. The firm’s fifty day simple moving average is $207.27 and its 200-day simple moving average is $203.56. 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 (NASDAQ:EA) last issued its earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share (EPS) for the quarter. The firm had revenue of $1.99 billion during the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%.

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.