Meitav Dash Investments Ltd. Cuts Position in Electronic Arts Inc. (NASDAQ:EA)

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Meitav Dash Investments Ltd. reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,344 shares of the game software company’s stock after selling 118 shares during the quarter. Meitav Dash Investments Ltd.’s holdings in Electronic Arts were worth $838,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in EA. State Street Corp grew its stake in Electronic Arts by 5.7% during the 1st quarter. State Street Corp now owns 14,019,159 shares of the game software company’s stock valued at $1,404,299,000 after purchasing an additional 750,716 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Electronic Arts by 2.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,969,701 shares of the game software company’s stock valued at $1,098,835,000 after purchasing an additional 242,929 shares in the last quarter. Copper Rock Capital Partners LLC grew its stake in Electronic Arts by 4,745.5% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 10,506,707 shares of the game software company’s stock valued at $1,225,111,000 after purchasing an additional 10,289,874 shares in the last quarter. Alliancebernstein L.P. grew its stake in Electronic Arts by 1.4% during the 1st quarter. Alliancebernstein L.P. now owns 7,374,001 shares of the game software company’s stock valued at $738,654,000 after purchasing an additional 105,310 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Electronic Arts by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 4,454,343 shares of the game software company’s stock valued at $445,421,000 after purchasing an additional 25,307 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $116.59, for a total value of $93,272.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jacob J. Schatz sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $146.33, for a total value of $731,650.00. Following the completion of the sale, the general counsel now directly owns 20,435 shares of the company’s stock, valued at approximately $2,990,253.55. The disclosure for this sale can be found here. Insiders sold 51,974 shares of company stock worth $7,175,597 in the last 90 days. Corporate insiders own 0.92% of the company’s stock.

Shares of EA stock traded up $1.13 on Thursday, reaching $142.99. 30,160 shares of the company’s stock traded hands, compared to its average volume of 1,917,054. Electronic Arts Inc. has a 12-month low of $85.69 and a 12-month high of $147.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.61 and a current ratio of 2.61. The company has a market capitalization of $41.18 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 4.96 and a beta of 0.94. The business’s 50 day moving average price is $138.72 and its two-hundred day moving average price is $118.52.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Thursday, July 30th. The game software company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.48. Electronic Arts had a return on equity of 21.32% and a net margin of 34.27%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.08 billion. Research analysts predict that Electronic Arts Inc. will post 4.26 earnings per share for the current year.

Several brokerages have recently commented on EA. Wells Fargo & Co lifted their target price on Electronic Arts from $120.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. BMO Capital Markets lifted their target price on Electronic Arts from $110.00 to $132.00 and gave the stock a “market perform” rating in a research report on Friday, June 26th. Piper Sandler lifted their target price on Electronic Arts from $133.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Needham & Company LLC lifted their target price on Electronic Arts from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Oppenheimer lifted their target price on Electronic Arts from $125.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $140.52.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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