Summit Global Investments Buys 16,428 Shares of Electronic Arts Inc. (NASDAQ:EA)

Summit Global Investments lifted its stake in Electronic Arts Inc. (NASDAQ:EA) by 11.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,123 shares of the game software company’s stock after purchasing an additional 16,428 shares during the period. Electronic Arts accounts for approximately 1.4% of Summit Global Investments’ holdings, making the stock its 13th largest holding. Summit Global Investments’ holdings in Electronic Arts were worth $21,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mercer Global Advisors Inc. ADV raised its stake in shares of Electronic Arts by 23.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 22,867 shares of the game software company’s stock valued at $2,753,000 after purchasing an additional 4,411 shares during the period. Value Partners Investments Inc. raised its stake in shares of Electronic Arts by 33.5% in the 4th quarter. Value Partners Investments Inc. now owns 429,536 shares of the game software company’s stock valued at $53,761,000 after purchasing an additional 107,709 shares during the period. Metis Global Partners LLC raised its stake in shares of Electronic Arts by 14.7% in the 3rd quarter. Metis Global Partners LLC now owns 11,473 shares of the game software company’s stock valued at $1,381,000 after purchasing an additional 1,469 shares during the period. Morgan Stanley raised its stake in shares of Electronic Arts by 13.0% in the 3rd quarter. Morgan Stanley now owns 3,389,395 shares of the game software company’s stock valued at $408,084,000 after purchasing an additional 389,063 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Electronic Arts by 16.3% in the 3rd quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company’s stock valued at $3,086,621,000 after purchasing an additional 3,600,388 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Price Performance

NASDAQ EA traded down $0.19 on Thursday, hitting $127.99. 923,709 shares of the company’s stock were exchanged, compared to its average volume of 1,971,532. The stock has a 50-day moving average of $132.55 and a 200-day moving average of $134.48. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $144.53. The stock has a market cap of $34.22 billion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 1.70 and a beta of 0.78.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, January 30th. The game software company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.38). The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.40 billion. Electronic Arts had a return on equity of 20.58% and a net margin of 14.09%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $2.29 earnings per share. Analysts expect that Electronic Arts Inc. will post 5.35 earnings per share for the current year.

Insider Transactions at Electronic Arts

In related news, Director Luis A. Ubinas sold 4,872 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $136.84, for a total value of $666,684.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $142.39, for a total transaction of $355,975.00. Following the completion of the sale, the chief executive officer now owns 28,430 shares in the company, valued at approximately $4,048,147.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Luis A. Ubinas sold 4,872 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $136.84, for a total transaction of $666,684.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,344 shares of company stock worth $4,729,531. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on EA. Wedbush reaffirmed an “outperform” rating and issued a $162.00 target price on shares of Electronic Arts in a research report on Thursday. BMO Capital Markets began coverage on Electronic Arts in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 target price on the stock. Roth Mkm lowered their target price on Electronic Arts from $140.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stifel Nicolaus boosted their price target on Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Oppenheimer reissued an “outperform” rating and set a $150.00 price target on shares of Electronic Arts in a research report on Tuesday, April 23rd. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $146.72.

Electronic Arts Company Profile

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.