Summit Global Investments Boosts Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Summit Global Investments raised its stake in Electronic Arts Inc. (NASDAQ:EA) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,123 shares of the game software company’s stock after purchasing an additional 16,428 shares during the period. Electronic Arts accounts for approximately 1.4% of Summit Global Investments’ investment portfolio, making the stock its 13th largest holding. Summit Global Investments owned about 0.06% of Electronic Arts worth $21,086,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of EA. Jennison Associates LLC lifted its holdings in shares of Electronic Arts by 1.3% during the fourth quarter. Jennison Associates LLC now owns 6,339 shares of the game software company’s stock worth $867,000 after purchasing an additional 84 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in Electronic Arts by 0.3% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 34,102 shares of the game software company’s stock valued at $4,106,000 after acquiring an additional 86 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its holdings in Electronic Arts by 0.3% in the third quarter. Van Lanschot Kempen Investment Management N.V. now owns 27,085 shares of the game software company’s stock valued at $3,261,000 after acquiring an additional 87 shares during the period. Mirador Capital Partners LP lifted its holdings in Electronic Arts by 2.9% in the fourth quarter. Mirador Capital Partners LP now owns 3,264 shares of the game software company’s stock valued at $447,000 after acquiring an additional 91 shares during the period. Finally, Whittier Trust Co. lifted its holdings in Electronic Arts by 4.1% in the fourth quarter. Whittier Trust Co. now owns 2,355 shares of the game software company’s stock valued at $322,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BMO Capital Markets initiated coverage on Electronic Arts in a report on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $162.00 price target on shares of Electronic Arts in a research report on Thursday. Oppenheimer restated an “outperform” rating and issued a $150.00 target price on shares of Electronic Arts in a report on Tuesday, April 23rd. Roth Mkm decreased their price target on Electronic Arts from $140.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, UBS Group decreased their target price on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 27th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.72.

Electronic Arts Stock Performance

Shares of EA stock traded down $0.19 during midday trading on Thursday, hitting $127.99. The company had a trading volume of 923,709 shares, compared to its average volume of 1,971,532. The company’s 50 day simple moving average is $132.55 and its 200 day simple moving average is $134.48. Electronic Arts Inc. has a 52-week low of $117.47 and a 52-week high of $144.53. The stock has a market cap of $34.22 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 1.70 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 1.33.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, January 30th. The game software company reported $1.07 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.38). The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.40 billion. Electronic Arts had a net margin of 14.09% and a return on equity of 20.58%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 earnings per share. Research analysts anticipate that Electronic Arts Inc. will post 5.35 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction on Friday, March 1st. The stock was sold at an average price of $139.08, for a total transaction of $111,264.00. Following the completion of the transaction, the insider now directly owns 27,883 shares of the company’s stock, valued at $3,877,967.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Electronic Arts news, Director Luis A. Ubinas sold 4,872 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $136.84, for a total transaction of $666,684.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $139.08, for a total value of $111,264.00. Following the transaction, the insider now directly owns 27,883 shares of the company’s stock, valued at approximately $3,877,967.64. The disclosure for this sale can be found here. Insiders sold 34,344 shares of company stock valued at $4,729,531 in the last three months. 0.20% of the stock is currently owned by company insiders.

Electronic Arts 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.