Renaissance Group LLC Sells 122 Shares of Electronic Arts Inc. (NASDAQ:EA)

Renaissance Group LLC decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,088 shares of the game software company’s stock after selling 122 shares during the quarter. Renaissance Group LLC’s holdings in Electronic Arts were worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. boosted its stake in shares of Electronic Arts by 141.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock valued at $29,000 after buying an additional 117 shares during the period. Whipplewood Advisors LLC acquired a new position in Electronic Arts in the 4th quarter valued at $32,000. Millstone Evans Group LLC bought a new stake in shares of Electronic Arts during the 4th quarter valued at $37,000. SBI Securities Co. Ltd. acquired a new stake in shares of Electronic Arts during the 4th quarter worth $41,000. Finally, OFI Invest Asset Management bought a new position in shares of Electronic Arts in the fourth quarter worth $42,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $130.14, for a total transaction of $650,700.00. Following the transaction, the chief executive officer now directly owns 37,615 shares of the company’s stock, valued at approximately $4,895,216.10. This represents a 11.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total value of $145,000.00. Following the completion of the sale, the insider now directly owns 26,216 shares of the company’s stock, valued at $3,801,320. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,000 shares of company stock valued at $3,015,990 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ:EA opened at $132.53 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The company has a 50 day simple moving average of $135.06 and a two-hundred day simple moving average of $144.42. The company has a market capitalization of $34.54 billion, a PE ratio of 33.72, a P/E/G ratio of 3.58 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Research analysts anticipate that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.76 annualized dividend and a dividend yield of 0.57%. Electronic Arts’s payout ratio is 19.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Oppenheimer cut their price objective on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, January 21st. Wedbush reiterated an “outperform” rating and set a $173.00 price target on shares of Electronic Arts in a research report on Thursday, January 23rd. BNP Paribas downgraded shares of Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 price objective for the company. in a research report on Monday, January 27th. UBS Group upped their target price on Electronic Arts from $138.00 to $152.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Finally, Robert W. Baird decreased their price target on Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $155.30.

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.