Kentucky Retirement Systems Has $5.20 Million Stock Holdings in Electronic Arts Inc. $EA

Kentucky Retirement Systems boosted its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 61.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,522 shares of the game software company's stock after acquiring an additional 9,734 shares during the period. Kentucky Retirement Systems' holdings in Electronic Arts were worth $5,203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ascentis Independent Advisors bought a new position in Electronic Arts during the first quarter worth about $27,000. MV Capital Management Inc. bought a new position in shares of Electronic Arts in the fourth quarter valued at about $28,000. Asset Planning Inc acquired a new position in shares of Electronic Arts during the first quarter worth approximately $32,000. Whipplewood Advisors LLC bought a new position in Electronic Arts in the 1st quarter valued at $32,000. Finally, Fideuram Asset Management Ireland dac bought a new position in Electronic Arts in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 90.23% of the company's stock.

Insider Buying and Selling

In related news, insider Laura Miele sold 2,500 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.10, for a total value of $507,750.00. Following the transaction, the insider directly owned 73,513 shares of the company's stock, valued at approximately $14,930,490.30. The trade was a 3.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,066 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the completion of the transaction, the chief executive officer directly owned 85,974 shares of the company's stock, valued at approximately $17,337,516.84. This trade represents a 5.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 31,206 shares of company stock worth $6,292,058 over the last quarter. Corporate insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on EA shares. Zacks Research lowered shares of Electronic Arts from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Argus cut shares of Electronic Arts from a "buy" rating to a "hold" rating in a research report on Thursday, May 28th. Weiss Ratings upgraded shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 18th. Citigroup increased their price target on Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a "hold" rating in a research note on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $201.42.

Key Stories Impacting Electronic Arts

Here are the key news stories impacting Electronic Arts this week:

• Positive Sentiment: All regulatory approvals reportedly completed: Electronic Arts said the acquisition by a consortium including Saudi Arabia’s Public Investment Fund, Silver Lake and Affinity Partners has received the necessary regulatory clearances. The transaction is now expected to close next week, a significant catalyst for shareholders. Electronic Arts says all regulatory approvals for its sale have been completed
• Positive Sentiment: Deal certainty supports the stock: Multiple reports say EA’s $55 billion sale is on track to close next week. With the transaction nearing completion, investors have greater visibility into receiving the agreed consideration, although upside may be limited as the market price approaches the deal value. Electronic Arts Set to Close $55 Billion Go-Private Deal Next Week
• Neutral Sentiment: Insider share sale: EA’s chief people officer sold 1,200 shares as the company prepares to go private. The transaction is relatively small and is unlikely to materially change the investment case. Electronic Arts' Chief People Officer Sells 1,200 Shares
• Negative Sentiment: Executive pay and layoffs draw criticism: Reports that CEO Andrew Wilson received approximately $38.7 million in compensation while EA cut developers have created negative publicity and governance concerns. The criticism may weigh on sentiment, though its effect on the stock is likely limited while the merger remains the dominant driver. Amid layoffs, EA CEO earned $38.7 million

Electronic Arts Trading Up 0.3%

NASDAQ EA opened at $209.59 on Friday. Electronic Arts Inc. has a 12 month low of $151.50 and a 12 month high of $209.80. The business's 50-day moving average price is $204.85 and its two-hundred day moving average price is $202.93. The firm has a market capitalization of $52.90 billion, a PE ratio of 60.05, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.

Electronic Arts Company 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.

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