Van ECK Associates Corp Has $57.61 Million Stock Holdings in Electronic Arts Inc. $EA

Van ECK Associates Corp lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 29.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 280,980 shares of the game software company’s stock after selling 119,578 shares during the quarter. Van ECK Associates Corp owned about 0.11% of Electronic Arts worth $57,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Resona Asset Management Co. Ltd. lifted its holdings in Electronic Arts by 12.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 108,908 shares of the game software company’s stock worth $22,185,000 after purchasing an additional 12,095 shares during the last quarter. Swiss National Bank grew its holdings in Electronic Arts by 8.0% in the 1st quarter. Swiss National Bank now owns 704,400 shares of the game software company’s stock valued at $143,606,000 after buying an additional 51,900 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in Electronic Arts in the 4th quarter valued at $2,043,000. Generali Asset Management SPA SGR increased its position in Electronic Arts by 76.3% during the 4th quarter. Generali Asset Management SPA SGR now owns 29,530 shares of the game software company’s stock worth $6,034,000 after buying an additional 12,777 shares during the period. Finally, Norges Bank bought a new position in Electronic Arts during the 4th quarter worth $643,674,000. Institutional investors own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

Electronic Arts Price Performance

Shares of EA opened at $209.70 on Friday. Electronic Arts Inc. has a 12-month low of $159.10 and a 12-month high of $210.20. The business has a 50-day simple moving average of $207.97 and a two-hundred day simple moving average of $203.90. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.21. The stock has a market cap of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Monday, August 3rd. The game software company reported $1.58 EPS for the quarter. The firm 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 Activity at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts 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 sale, the insider directly owned 26,360 shares in the company, valued at $5,351,080. This trade represents a 4.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 that occurred 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 sale, the chief executive officer directly owned 80,974 shares in the company, valued at $16,447,438.88. The trade was a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 8,700 shares of company stock worth $1,766,950 in the last quarter. 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.