Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 20.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,086 shares of the game software company’s stock after purchasing an additional 15,576 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Electronic Arts were worth $13,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. North Star Investment Management Corp. increased its position in shares of Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in Electronic Arts during the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the second quarter worth approximately $28,000. Family Firm Inc. bought a new stake in shares of Electronic Arts in the 2nd quarter worth approximately $33,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of Electronic Arts in the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BNP Paribas raised shares of Electronic Arts to a “strong-buy” rating in a research note on Wednesday, October 9th. Citigroup lowered Electronic Arts from a “buy” rating to a “neutral” rating and raised their price target for the stock from $148.00 to $161.00 in a research report on Monday, July 15th. Bank of America boosted their price objective on Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Electronic Arts from $148.00 to $155.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $160.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.76.

Electronic Arts Price Performance

Shares of EA stock opened at $145.20 on Monday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. The stock has a market cap of $38.36 billion, a price-to-earnings ratio of 34.16, a PEG ratio of 1.97 and a beta of 0.79. The business’s fifty day moving average is $145.01 and its 200 day moving average is $139.65. Electronic Arts Inc. has a twelve month low of $119.92 and a twelve month high of $153.51.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. Research analysts expect that Electronic Arts Inc. will post 5.93 EPS for the current fiscal year.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the transaction, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.32, for a total transaction of $223,980.00. Following the completion of the transaction, the executive vice president now directly owns 27,860 shares of the company’s stock, valued at $4,160,055.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 7,384 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the sale, the insider now owns 31,190 shares in the company, valued at $4,675,692.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,270 shares of company stock valued at $3,287,735 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

About Electronic Arts

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.