Public Investment Fund Takes $5.09 Billion Position in Electronic Arts Inc. $EA

Public Investment Fund purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 24,807,932 shares of the game software company’s stock, valued at approximately $5,086,618,377. Electronic Arts makes up 0.0% of Public Investment Fund’s portfolio, making the stock its 3rd largest position. Public Investment Fund owned about 9.83% of Electronic Arts as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new stake in Electronic Arts in the 2nd quarter worth about $25,000. Ascentis Independent Advisors acquired a new position in Electronic Arts in the first quarter valued at $27,000. Torren Management LLC lifted its holdings in shares of Electronic Arts by 235.0% in the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock valued at $27,000 after purchasing an additional 94 shares in the last quarter. MV Capital Management Inc. acquired a new stake in Electronic Arts in the fourth quarter valued at approximately $28,000. Finally, Meeder Asset Management Inc. acquired a new stake in Electronic Arts in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

EA stock remained flat at $209.70 during trading on Friday. The company had a trading volume of 48,626,734 shares, compared to its average volume of 5,040,276. Electronic Arts Inc. has a 52 week low of $159.10 and a 52 week high of $210.20. The firm has a market capitalization of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The stock has a 50-day moving average of $207.82 and a 200-day moving average of $203.86. 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 posted its quarterly earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share (EPS) for the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.The business had revenue of $1.99 billion for the quarter.

Wall Street Analyst Weigh In

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

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction 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 represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the firm’s 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 completion of the transaction, the insider directly owned 26,360 shares in the company, valued at $5,351,080. This trade represents a 4.35% 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. In the last three months, insiders sold 8,700 shares of company stock valued at $1,766,950. Company insiders own 0.24% of the company’s stock.

Electronic Arts Company 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.