Electronic Arts Inc. (NASDAQ:EA) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC cut its position in Electronic Arts Inc. (NASDAQ:EA) by 46.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,670 shares of the game software company’s stock after selling 2,312 shares during the quarter. D.B. Root & Company LLC’s holdings in Electronic Arts were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Electronic Arts in the second quarter valued at $28,000. Family Firm Inc. purchased a new position in Electronic Arts in the second quarter valued at $33,000. New Covenant Trust Company N.A. purchased a new position in Electronic Arts in the first quarter valued at $35,000. Reston Wealth Management LLC purchased a new position in Electronic Arts in the third quarter valued at $36,000. Finally, Gradient Investments LLC boosted its holdings in Electronic Arts by 592.1% in the second quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock valued at $37,000 after purchasing an additional 225 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EA has been the subject of a number of recent research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $150.00 target price on shares of Electronic Arts in a report on Wednesday, September 18th. Stifel Nicolaus lifted their price target on Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. DZ Bank raised Electronic Arts from a “hold” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $177.00 in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $160.00 price target (up from $154.00) on shares of Electronic Arts in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Electronic Arts currently has an average rating of “Moderate Buy” and an average price target of $164.39.

Electronic Arts Stock Performance

Shares of EA stock opened at $157.96 on Thursday. The stock has a market capitalization of $41.73 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $159.34. The stock’s 50-day moving average price is $145.17 and its 200 day moving average price is $140.78. The company has a quick ratio of 1.45, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

Insiders Place Their Bets

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total transaction of $395,075.00. Following the transaction, the insider now owns 50,433 shares in the company, valued at approximately $7,969,926.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total value of $395,075.00. Following the sale, the insider now owns 50,433 shares in the company, valued at $7,969,926.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stuart Canfield sold 1,260 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $148.37, for a total value of $186,946.20. Following the completion of the sale, the chief financial officer now owns 7,553 shares in the company, valued at approximately $1,120,638.61. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,144 shares of company stock worth $3,886,282. Company insiders own 0.22% of the company’s stock.

About Electronic Arts

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.