120,245 Shares in Electronic Arts Inc. $EA Acquired by Cibc World Market Inc.

Cibc World Market Inc. bought a new stake in Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 120,245 shares of the game software company’s stock, valued at approximately $24,655,000.

A number of other hedge funds have also modified their holdings of the business. Ascentis Independent Advisors acquired a new stake in Electronic Arts during the 1st quarter valued at $27,000. Torren Management LLC raised its stake in Electronic Arts by 235.0% during the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock worth $27,000 after purchasing an additional 94 shares during the period. MV Capital Management Inc. purchased a new position in shares of Electronic Arts in the 4th quarter worth $28,000. Meeder Asset Management Inc. acquired a new position in shares of Electronic Arts in the 2nd quarter valued at about $31,000. Finally, Asset Planning Inc acquired a new position in Electronic Arts during the first quarter valued at approximately $32,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Price Performance

NASDAQ EA opened at $209.70 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.21 and a quick ratio of 1.05. The firm has a market capitalization of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. The company’s 50 day simple moving average is $207.27 and its 200 day simple moving average is $203.56. Electronic Arts Inc. has a 12 month low of $159.10 and a 12 month high of $210.20.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s 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 completion of the sale, the insider directly owned 26,360 shares in the company, valued at approximately $5,351,080. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,000 shares of the business’s 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 completion of the transaction, the chief executive officer owned 80,974 shares in the company, valued at $16,447,438.88. This trade represents a 5.82% 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. Over the last ninety days, insiders sold 8,700 shares of company stock valued at $1,766,950. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts 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.