Connecticut Wealth Management LLC Acquires New Position in Electronic Arts Inc. (NASDAQ:EA)

Connecticut Wealth Management LLC bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 4th quarter, Holdings Channel.com reports. The fund bought 4,802 shares of the game software company’s stock, valued at approximately $657,000.

Other large investors have also modified their holdings of the company. Bray Capital Advisors grew its position in Electronic Arts by 100.0% during the third quarter. Bray Capital Advisors now owns 220 shares of the game software company’s stock worth $26,000 after buying an additional 110 shares during the period. Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of Electronic Arts by 269.1% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 212,585 shares of the game software company’s stock worth $29,000 after acquiring an additional 154,989 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of Electronic Arts in the 4th quarter worth approximately $30,000. Venturi Wealth Management LLC increased its stake in Electronic Arts by 81.0% in the 4th quarter. Venturi Wealth Management LLC now owns 228 shares of the game software company’s stock valued at $31,000 after purchasing an additional 102 shares in the last quarter. Finally, CVA Family Office LLC acquired a new position in Electronic Arts during the fourth quarter worth $38,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Trading Up 0.8 %

Shares of NASDAQ EA traded up $1.06 on Friday, reaching $129.56. 1,650,180 shares of the company traded hands, compared to its average volume of 1,685,682. The stock has a market capitalization of $34.64 billion, a PE ratio of 32.63, a P/E/G ratio of 1.73 and a beta of 0.78. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $144.53. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average of $131.99 and a 200 day moving average of $134.45.

Analysts Set New Price Targets

Several research firms have weighed in on EA. BMO Capital Markets initiated coverage on Electronic Arts in a report on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 target price on the stock. Wedbush restated an “outperform” rating and set a $162.00 target price on shares of Electronic Arts in a research report on Thursday. Roth Mkm lowered their price target on shares of Electronic Arts from $140.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday. Oppenheimer restated an “outperform” rating and set a $150.00 price objective on shares of Electronic Arts in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus upped their target price on Electronic Arts from $152.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $146.72.

Insider Activity at Electronic Arts

In other news, COO Laura Miele sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $128.15, for a total transaction of $256,300.00. Following the completion of the sale, the chief operating officer now directly owns 32,772 shares in the company, valued at approximately $4,199,731.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Laura Miele sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $128.15, for a total transaction of $256,300.00. Following the completion of the sale, the chief operating officer now owns 32,772 shares in the company, valued at approximately $4,199,731.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $126.64, for a total transaction of $101,312.00. Following the sale, the insider now directly owns 26,283 shares of the company’s stock, valued at approximately $3,328,479.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,144 shares of company stock worth $5,087,143. 0.20% of the stock is owned by company insiders.

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.