Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Electronic Arts Inc. $EA

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,759 shares of the game software company’s stock after purchasing an additional 20,319 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Electronic Arts were worth $31,937,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Electronic Arts by 54.1% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,384 shares of the game software company’s stock valued at $284,000 after buying an additional 486 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Electronic Arts by 0.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,973 shares of the game software company’s stock worth $6,556,000 after buying an additional 279 shares during the period. North Growth Management Ltd. lifted its holdings in Electronic Arts by 2.9% in the second quarter. North Growth Management Ltd. now owns 36,000 shares of the game software company’s stock worth $7,281,000 after buying an additional 1,000 shares during the period. Greenleaf Trust boosted its position in Electronic Arts by 2.0% during the 2nd quarter. Greenleaf Trust now owns 5,986 shares of the game software company’s stock valued at $1,227,000 after acquiring an additional 119 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in Electronic Arts by 260.9% during the 2nd quarter. Gateway Investment Advisers LLC now owns 20,195 shares of the game software company’s stock valued at $4,141,000 after acquiring an additional 14,600 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of EA opened at $209.70 on Friday. Electronic Arts Inc. has a fifty-two week low of $159.10 and a fifty-two week high of $210.20. The firm’s 50-day simple moving average is $206.47 and its two-hundred day simple moving average is $203.32. The stock has a market cap of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Zacks Research lowered Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Citigroup increased their price objective on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Wall Street Zen raised Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. One research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $206.50.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the company’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 value of $1,015,600.00. Following the sale, the chief executive officer owned 80,974 shares in the company, valued at $16,447,438.88. This represents a 5.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.10, for a total value of $507,750.00. Following the transaction, the insider directly owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. This trade represents a 3.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 22,506 shares of company stock worth $4,547,036. Company insiders own 0.24% of the company’s stock.

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.