Pictet Asset Management SA trimmed its stake in Electronic Arts Inc. (NASDAQ:EA – Free Report) by 84.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,368 shares of the game software company’s stock after selling 1,122,620 shares during the period. Pictet Asset Management SA owned about 0.08% of Electronic Arts worth $25,339,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Resurgent Financial Advisors LLC acquired a new stake in shares of Electronic Arts during the 4th quarter valued at about $26,000. Neo Ivy Capital Management boosted its position in shares of Electronic Arts by 70.1% during the 2nd quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock valued at $31,000 after acquiring an additional 108 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Electronic Arts during the 4th quarter valued at about $33,000. Compass Wealth Management LLC acquired a new stake in shares of Electronic Arts during the 4th quarter valued at about $33,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Electronic Arts by 128.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 293 shares of the game software company’s stock valued at $37,000 after acquiring an additional 165 shares in the last quarter. 88.65% of the stock is currently owned by institutional investors and hedge funds.
Electronic Arts Trading Down 0.3 %
EA opened at $118.36 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $32.06 billion, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87. The firm has a 50 day simple moving average of $129.73 and a 200 day simple moving average of $123.63. Electronic Arts Inc. has a fifty-two week low of $108.53 and a fifty-two week high of $140.30.
Electronic Arts Dividend Announcement
Insider Buying and Selling
In other news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction on Friday, August 11th. The shares were sold at an average price of $121.55, for a total transaction of $97,240.00. Following the transaction, the insider now directly owns 31,147 shares of the company’s stock, valued at $3,785,917.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $121.55, for a total value of $97,240.00. Following the transaction, the insider now owns 31,147 shares of the company’s stock, valued at $3,785,917.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $126.79, for a total transaction of $633,950.00. Following the completion of the transaction, the chief executive officer now directly owns 87,809 shares in the company, valued at approximately $11,133,303.11. The disclosure for this sale can be found here. Insiders sold a total of 26,203 shares of company stock valued at $3,334,092 over the last ninety days. Insiders own 0.20% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Electronic Arts from $135.00 to $145.00 in a research report on Wednesday, May 10th. StockNews.com started coverage on shares of Electronic Arts in a research report on Thursday. They issued a “buy” rating on the stock. BMO Capital Markets lowered shares of Electronic Arts from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $150.00 to $125.00 in a research report on Thursday, April 27th. Credit Suisse Group boosted their price target on shares of Electronic Arts from $161.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Finally, DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Friday, May 12th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Electronic Arts currently has an average rating of “Moderate Buy” and an average target price of $139.64.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.
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