abrdn plc Grows Position in Electronic Arts Inc. (NASDAQ:EA)

abrdn plc lifted its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 59.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 858,840 shares of the game software company's stock after buying an additional 319,335 shares during the quarter. abrdn plc owned about 0.32% of Electronic Arts worth $123,484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Electronic Arts by 14.7% during the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company's stock worth $3,868,620,000 after acquiring an additional 3,727,251 shares during the period. Capital International Investors boosted its stake in shares of Electronic Arts by 16.4% in the first quarter. Capital International Investors now owns 5,901,257 shares of the game software company's stock valued at $782,920,000 after buying an additional 833,492 shares during the period. Ninety One UK Ltd grew its position in Electronic Arts by 1.3% during the second quarter. Ninety One UK Ltd now owns 4,283,539 shares of the game software company's stock worth $596,825,000 after buying an additional 53,237 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Electronic Arts by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,185,476 shares of the game software company's stock valued at $583,162,000 after acquiring an additional 18,376 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Electronic Arts by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 2,639,691 shares of the game software company's stock valued at $367,789,000 after acquiring an additional 53,800 shares during the period. Institutional investors own 90.23% of the company's stock.

Electronic Arts Trading Up 1.0 %

Electronic Arts stock traded up $1.44 during trading hours on Tuesday, reaching $145.62. 2,666,356 shares of the company's stock were exchanged, compared to its average volume of 2,049,569. The firm has a market capitalization of $38.70 billion, a PE ratio of 30.81, a PEG ratio of 1.97 and a beta of 0.79. 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 firm's 50 day simple moving average is $144.90 and its 200 day simple moving average is $139.76. Electronic Arts Inc. has a twelve month low of $119.92 and a twelve month high of $153.51.

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

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total value of $151,700.00. Following the completion of the sale, the insider now directly owns 30,190 shares in the company, valued at approximately $4,579,823. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Luis A. Ubinas sold 2,126 shares of Electronic Arts stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $146.77, for a total value of $312,033.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total transaction of $151,700.00. Following the transaction, the insider now owns 30,190 shares in the company, valued at approximately $4,579,823. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,770 shares of company stock valued at $3,652,410 in the last quarter. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on EA. The Goldman Sachs Group raised their target price on Electronic Arts from $139.00 to $150.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. BMO Capital Markets restated an "outperform" rating and set a $154.00 price objective on shares of Electronic Arts in a research report on Wednesday, October 16th. Morgan Stanley reiterated an "equal weight" rating and issued a $150.00 target price on shares of Electronic Arts in a research report on Wednesday, September 18th. Wedbush reaffirmed an "outperform" rating and issued a $170.00 price objective on shares of Electronic Arts in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Electronic Arts from $148.00 to $155.00 and gave the stock a "neutral" rating in a research report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $162.76.

Electronic Arts 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.