Resonant Capital Advisors LLC Acquires 693 Shares of Electronic Arts Inc. $EA

Resonant Capital Advisors LLC lifted its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 17,371 shares of the game software company’s stock after acquiring an additional 693 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Electronic Arts were worth $2,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Electronic Arts by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company’s stock valued at $4,198,607,000 after acquiring an additional 150,438 shares during the period. Ninety One UK Ltd grew its position in shares of Electronic Arts by 4.6% in the second quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company’s stock valued at $695,645,000 after purchasing an additional 193,442 shares in the last quarter. Independent Franchise Partners LLP raised its stake in shares of Electronic Arts by 2.3% during the 1st quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company’s stock valued at $570,233,000 after purchasing an additional 88,767 shares during the period. Invesco Ltd. lifted its holdings in Electronic Arts by 15.6% during the 1st quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company’s stock worth $539,563,000 after purchasing an additional 504,760 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Electronic Arts by 62.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company’s stock worth $470,197,000 after purchasing an additional 1,254,194 shares in the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Trading Up 0.1%

Shares of EA opened at $200.84 on Friday. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $203.75. The company has a market capitalization of $50.25 billion, a P/E ratio of 50.34, a P/E/G ratio of 3.05 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50 day simple moving average is $183.25 and its 200 day simple moving average is $162.78.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen lowered Electronic Arts from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. HSBC cut shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 price objective for the company. in a research note on Monday, September 29th. Zacks Research raised shares of Electronic Arts from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. DZ Bank downgraded shares of Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 29th. Finally, Citigroup restated a “neutral” rating on shares of Electronic Arts in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $179.38.

Insider Activity

In other news, EVP Jacob J. Schatz sold 1,200 shares of Electronic Arts stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $200.80, for a total transaction of $240,960.00. Following the completion of the sale, the executive vice president directly owned 24,880 shares of the company’s stock, valued at approximately $4,995,904. The trade was a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stuart Canfield sold 6,500 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the completion of the transaction, the chief financial officer owned 5,140 shares of the company’s stock, valued at $1,045,476. This trade represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,900 shares of company stock worth $7,748,187. Corporate insiders own 0.24% of the company’s stock.

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.