Handelsbanken Fonder AB Reduces Position in Electronic Arts Inc. $EA

Handelsbanken Fonder AB decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,569 shares of the game software company’s stock after selling 2,426 shares during the period. Handelsbanken Fonder AB’s holdings in Electronic Arts were worth $16,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EA. Brighton Jones LLC grew its holdings in Electronic Arts by 9.4% during the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after purchasing an additional 294 shares during the period. Empowered Funds LLC raised its stake in shares of Electronic Arts by 167.0% in the first quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock worth $2,790,000 after buying an additional 12,076 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Electronic Arts by 150.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after buying an additional 190 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Electronic Arts during the 2nd quarter valued at about $2,323,000. Finally, NewEdge Advisors LLC grew its stake in shares of Electronic Arts by 96.4% during the 2nd quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock valued at $490,000 after acquiring an additional 1,505 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Finally, Citigroup lifted their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Electronic Arts currently has an average rating of “Reduce” and a consensus target price of $206.50.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total value of $302,040.00. Following the transaction, the chief financial officer owned 25,991 shares of the company’s stock, valued at $5,233,547.76. This represents a 5.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $5,351,080. This represents a 4.35% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 31,206 shares of company stock worth $6,292,058. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Stock Performance

Electronic Arts stock opened at $209.70 on Thursday. The company’s 50-day moving average price is $206.34 and its 200-day moving average price is $203.28. 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 company has a market cap of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. Electronic Arts Inc. has a twelve month low of $159.10 and a twelve month high of $210.20.

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.