Commerce Bank Acquires Shares of 8,710 Electronic Arts Inc. $EA

Commerce Bank purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,710 shares of the game software company’s stock, valued at approximately $1,786,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Electronic Arts during the second quarter valued at approximately $5,125,838,000. Pentwater Capital Management LP lifted its stake in shares of 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 acquiring an additional 6,150,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Electronic Arts by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company’s stock worth $1,382,030,000 after acquiring an additional 143,195 shares during the last quarter. Invesco Ltd. boosted its holdings in Electronic Arts by 4.9% during the 3rd quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock valued at $870,328,000 after acquiring an additional 202,657 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Electronic Arts by 44.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock valued at $673,393,000 after acquiring an additional 1,300,336 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

EA stock opened at $209.70 on Wednesday. Electronic Arts Inc. has a 1-year low of $159.10 and a 1-year high of $210.20. The business has a 50-day moving average price of $207.53 and a 200 day moving average price of $203.71. The company 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 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 company had revenue of $1.99 billion for the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%.

Analysts Set New Price Targets

A number of analysts have weighed in on EA shares. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Zacks Research downgraded shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Citigroup lifted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. One research 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 stock has a consensus rating of “Reduce” and an average target price of $206.50.

Insider Activity

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on 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 directly owned 73,513 shares in the company, valued at approximately $14,930,490.30. This trade represents a 3.29% decrease in their ownership of the stock. The transaction 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, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the completion of the transaction, the insider directly owned 26,360 shares of the company’s stock, valued at $5,351,080. This trade 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. Over the last ninety days, insiders have sold 8,700 shares of company stock worth $1,766,950. Corporate insiders own 0.24% of the company’s stock.

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.