Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lessened its holdings in shares of Electronic Arts Inc. (NASDAQ:EAFree Report) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,172 shares of the game software company’s stock after selling 5,215 shares during the quarter. Arizona State Retirement System’s holdings in Electronic Arts were worth $8,810,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Electronic Arts in the 4th quarter worth about $270,382,000. BlackRock Inc. increased its holdings in Electronic Arts by 7.0% in the second quarter. BlackRock Inc. now owns 25,779,074 shares of the game software company’s stock valued at $3,343,546,000 after buying an additional 1,690,474 shares during the last quarter. Morgan Stanley raised its stake in Electronic Arts by 62.1% during the fourth quarter. Morgan Stanley now owns 3,193,059 shares of the game software company’s stock valued at $390,128,000 after buying an additional 1,223,195 shares in the last quarter. Barclays PLC lifted its holdings in Electronic Arts by 265.0% during the 2nd quarter. Barclays PLC now owns 1,516,792 shares of the game software company’s stock worth $196,727,000 after buying an additional 1,101,229 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Electronic Arts by 1,629.9% in the 2nd quarter. Acadian Asset Management LLC now owns 901,244 shares of the game software company’s stock worth $116,868,000 after acquiring an additional 849,146 shares in the last quarter. 90.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $138.01, for a total transaction of $110,408.00. Following the transaction, the insider now directly owns 30,283 shares of the company’s stock, valued at $4,179,356.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $138.01, for a total transaction of $110,408.00. Following the completion of the sale, the insider now directly owns 30,283 shares of the company’s stock, valued at $4,179,356.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $134.45, for a total transaction of $134,450.00. Following the sale, the insider now owns 20,922 shares of the company’s stock, valued at $2,812,962.90. The disclosure for this sale can be found here. Insiders sold a total of 29,359 shares of company stock worth $3,940,825 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EA has been the topic of several research reports. Stifel Nicolaus upped their price target on Electronic Arts from $152.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Wolfe Research started coverage on shares of Electronic Arts in a research report on Tuesday, December 12th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Electronic Arts from $132.00 to $139.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Wedbush reiterated an “outperform” rating and set a $155.00 price objective on shares of Electronic Arts in a research note on Monday, October 30th. Finally, Benchmark restated a “buy” rating and issued a $153.00 target price on shares of Electronic Arts in a research note on Tuesday, October 10th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Electronic Arts presently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

Check Out Our Latest Analysis on Electronic Arts

Electronic Arts Stock Down 0.7 %

Electronic Arts stock opened at $137.55 on Wednesday. Electronic Arts Inc. has a 52 week low of $108.53 and a 52 week high of $143.47. The stock has a market cap of $37.00 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 2.13 and a beta of 0.82. The company’s 50-day moving average price is $137.59 and its two-hundred day moving average price is $130.11. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EAGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The game software company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.38). Electronic Arts had a net margin of 13.08% and a return on equity of 20.02%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the business earned $2.29 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. On average, analysts expect that Electronic Arts Inc. will post 5.29 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 28th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.55%. Electronic Arts’s dividend payout ratio is presently 20.94%.

Electronic Arts Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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