Westpac Banking Corp Invests $717,000 in Electronic Arts Inc. $EA

Westpac Banking Corp bought a new position in Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to its most recent filing with the SEC. The firm bought 3,497 shares of the game software company’s stock, valued at approximately $717,000.

Several other hedge funds have also bought and sold shares of EA. BlackRock Inc. acquired a new position in Electronic Arts during the second quarter worth $5,125,838,000. Pentwater Capital Management LP grew its holdings in shares of Electronic Arts by 128.1% during the fourth quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock valued at $2,237,414,000 after buying an additional 6,150,000 shares during the last quarter. Norges Bank acquired a new position in shares of Electronic Arts during the fourth quarter valued at about $643,674,000. HBK Investments L P acquired a new position in shares of Electronic Arts during the fourth quarter valued at about $390,267,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Electronic Arts during the second quarter worth about $269,846,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insiders Place Their Bets

In other news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.10, for a total transaction of $507,750.00. Following the sale, the insider directly owned 73,513 shares in the company, valued at $14,930,490.30. The trade was a 3.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.00, for a total transaction of $243,600.00. Following the transaction, the insider owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. The trade was a 4.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 8,700 shares of company stock valued at $1,766,950. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EA. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Citigroup boosted 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. Argus downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Finally, Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $206.50.

Electronic Arts Price Performance

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 has a market capitalization of $52.93 billion, a P/E ratio of 49.23 and a beta of 0.64. The company’s 50-day moving average is $207.27 and its 200 day moving average is $203.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.21 and a quick ratio of 1.05.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Monday, August 3rd. The game software company reported $1.58 earnings per share (EPS) for the quarter. The business had revenue of $1.99 billion during the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%.

Electronic Arts Profile

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.