Northcape Capital Pty Ltd lessened its position in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 30.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,917 shares of the game software company’s stock after selling 4,763 shares during the quarter. Electronic Arts makes up about 0.2% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 23rd largest position. Northcape Capital Pty Ltd’s holdings in Electronic Arts were worth $1,566,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Electronic Arts by 82.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 25,074 shares of the game software company’s stock valued at $3,327,000 after acquiring an additional 11,343 shares during the period. FORA Capital LLC lifted its position in shares of Electronic Arts by 209.7% in the first quarter. FORA Capital LLC now owns 45,985 shares of the game software company’s stock valued at $6,101,000 after buying an additional 31,136 shares during the last quarter. Duality Advisers LP acquired a new position in shares of Electronic Arts in the first quarter valued at $1,711,000. State Board of Administration of Florida Retirement System raised its holdings in Electronic Arts by 13.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 348,670 shares of the game software company’s stock valued at $46,258,000 after acquiring an additional 41,567 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Electronic Arts by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after buying an additional 3,727,251 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on EA. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $160.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. Stifel Nicolaus upped their price objective on shares of Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley reaffirmed an “equal weight” rating and set a $150.00 target price on shares of Electronic Arts in a research report on Wednesday, September 18th. Oppenheimer lifted their price target on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $154.00 target price on shares of Electronic Arts in a research report on Tuesday, July 30th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $161.94.
Electronic Arts Price Performance
Shares of NASDAQ EA traded up $1.27 during mid-day trading on Friday, hitting $143.24. 1,460,568 shares of the company’s stock traded hands, compared to its average volume of 2,081,530. Electronic Arts Inc. has a 1 year low of $119.92 and a 1 year high of $153.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. The company’s 50-day moving average is $145.27 and its two-hundred day moving average is $138.64. The company has a market capitalization of $38.06 billion, a P/E ratio of 30.61, a PEG ratio of 1.95 and a beta of 0.79.
Electronic Arts (NASDAQ:EA – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, equities analysts anticipate that Electronic Arts Inc. will post 5.93 EPS for the current fiscal year.
Electronic Arts Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. Electronic Arts’s dividend payout ratio is currently 16.24%.
Insider Activity
In other news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total value of $353,750.00. Following the completion of the sale, the chief executive officer now directly owns 54,247 shares in the company, valued at $7,675,950.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the transaction, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total transaction of $353,750.00. Following the completion of the transaction, the chief executive officer now directly owns 54,247 shares in the company, valued at $7,675,950.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,270 shares of company stock worth $3,571,565 in the last quarter. Corporate insiders own 0.22% of the company’s stock.
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.
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