Monetta Financial Services Inc. bought a new stake in shares of Electronic Arts (NASDAQ:EA) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 19,000 shares of the game software company’s stock, valued at approximately $2,304,000. Electronic Arts comprises about 1.2% of Monetta Financial Services Inc.’s holdings, making the stock its 28th largest position.
Other large investors also recently made changes to their positions in the company. Mackay Shields LLC bought a new stake in Electronic Arts during the first quarter worth $6,284,000. State of Alaska Department of Revenue lifted its holdings in Electronic Arts by 368.4% during the fourth quarter. State of Alaska Department of Revenue now owns 40,509 shares of the game software company’s stock worth $4,253,000 after acquiring an additional 31,860 shares during the period. Fox Run Management L.L.C. bought a new stake in Electronic Arts during the fourth quarter worth $654,000. Global X Management Co. LLC lifted its holdings in Electronic Arts by 26.4% during the fourth quarter. Global X Management Co. LLC now owns 3,770 shares of the game software company’s stock worth $396,000 after acquiring an additional 788 shares during the period. Finally, K.J. Harrison & Partners Inc bought a new stake in Electronic Arts during the fourth quarter worth $946,000. 93.59% of the stock is currently owned by institutional investors.
Get Electronic Arts alerts:In other news, SVP Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $125.37, for a total value of $125,370.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 1,133 shares of Electronic Arts stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $124.01, for a total value of $140,503.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,754 shares of company stock valued at $9,753,988. 2.55% of the stock is owned by company insiders.
Shares of NASDAQ EA opened at $132.00 on Monday. The firm has a market capitalization of $40.49 billion, a PE ratio of 38.37, a P/E/G ratio of 2.06 and a beta of 0.82. Electronic Arts has a fifty-two week low of $99.63 and a fifty-two week high of $134.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.41 and a quick ratio of 1.92.
A number of analysts recently commented on EA shares. Zacks Investment Research lowered Electronic Arts from a “hold” rating to a “sell” rating in a report on Friday, April 6th. Piper Jaffray Companies reiterated a “buy” rating and set a $142.00 price target on shares of Electronic Arts in a report on Monday, January 22nd. Jefferies Group reiterated a “buy” rating and set a $150.00 price target on shares of Electronic Arts in a report on Wednesday, January 31st. Cowen reiterated a “hold” rating on shares of Electronic Arts in a report on Wednesday, January 31st. Finally, Oppenheimer reiterated a “buy” rating and set a $130.00 price target on shares of Electronic Arts in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $139.92.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, personal computers, mobile phones, and tablets worldwide. It develops and publishes games primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v. Zombies brands; and license games from others, such as FIFA, Madden NFL, and Star Wars, as well as publishes and distributes games developed by third parties.
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