E Fund Management Co. Ltd. Invests $1.97 Million in Electronic Arts Inc. $EA

E Fund Management Co. Ltd. purchased a new position in Electronic Arts Inc. (NASDAQ:EA) in the second quarter, HoldingsChannel.com reports. The firm purchased 9,600 shares of the game software company’s stock, valued at approximately $1,968,000.

A number of other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Electronic Arts in the second quarter valued at $5,125,838,000. Pentwater Capital Management LP increased its stake in Electronic Arts by 128.1% during 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 buying an additional 6,150,000 shares during the period. Norges Bank acquired a new position in Electronic Arts in the 4th quarter worth $643,674,000. HBK Investments L P acquired a new position in Electronic Arts in the 4th quarter worth $390,267,000. Finally, Bank of New York Mellon Corp acquired a new position in Electronic Arts in the 2nd quarter worth $269,846,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

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

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $209.70 on Thursday. The firm’s 50 day moving average is $207.00 and its two-hundred day moving average is $203.47. Electronic Arts Inc. has a 52 week low of $159.10 and a 52 week high of $210.20. The firm has a market capitalization of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.21.

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

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on 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 in the company, valued at approximately $16,447,438.88. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the transaction, the insider directly owned 26,360 shares in the company, valued at $5,351,080. This represents a 4.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 8,700 shares of company stock valued at $1,766,950. 0.24% of the stock is owned by insiders.

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.