B. Riley Wealth Advisors Inc. Makes New $540,000 Investment in Electronic Arts Inc. $EA

B. Riley Wealth Advisors Inc. purchased a new stake in Electronic Arts Inc. (NASDAQ:EA) in the third quarter, HoldingsChannel reports. The firm purchased 2,675 shares of the game software company’s stock, valued at approximately $540,000.

Several other hedge funds and other institutional investors have also bought and sold shares of EA. State Street Corp increased its stake in Electronic Arts by 5.8% in the second quarter. State Street Corp now owns 17,072,959 shares of the game software company’s stock valued at $2,726,552,000 after purchasing an additional 932,024 shares in the last quarter. Ninety One UK Ltd grew its holdings in shares of Electronic Arts by 4.6% in the 2nd quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company’s stock valued at $695,645,000 after buying an additional 193,442 shares during the period. Ameriprise Financial Inc. increased its position in shares of Electronic Arts by 44.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock valued at $673,393,000 after buying an additional 1,300,336 shares in the last quarter. Invesco Ltd. raised its stake in Electronic Arts by 10.1% during the 2nd quarter. Invesco Ltd. now owns 4,112,305 shares of the game software company’s stock worth $656,735,000 after buying an additional 378,824 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Electronic Arts by 17.0% during the second quarter. First Trust Advisors LP now owns 2,430,876 shares of the game software company’s stock worth $388,211,000 after acquiring an additional 353,327 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

EA has been the subject of several recent analyst reports. Argus set a $210.00 price target on Electronic Arts in a report on Thursday, October 30th. Morgan Stanley increased their target price on Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. TD Cowen lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Citigroup upped their price target on shares of Electronic Arts from $206.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Zacks Research lowered shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Four analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Electronic Arts currently has an average rating of “Hold” and an average target price of $187.19.

Electronic Arts Price Performance

NASDAQ EA opened at $203.94 on Thursday. The firm’s 50 day moving average is $203.71 and its 200-day moving average is $188.42. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $51.01 billion, a PE ratio of 59.63, a price-to-earnings-growth ratio of 2.46 and a beta of 0.73. Electronic Arts Inc. has a 12-month low of $115.30 and a 12-month high of $204.88.

Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $1.11 EPS. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. Equities research analysts anticipate that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Insider Activity at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $201.65, for a total transaction of $302,475.00. Following the completion of the transaction, the chief financial officer directly owned 5,595 shares of the company’s stock, valued at approximately $1,128,231.75. This represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $204.30, for a total value of $245,160.00. Following the completion of the transaction, the insider owned 32,360 shares of the company’s stock, valued at approximately $6,611,148. This represents a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 123,769 shares of company stock worth $24,943,734. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.