Cresset Asset Management LLC Sells 9,250 Shares of Electronic Arts Inc. (NASDAQ:EA)

Cresset Asset Management LLC decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 43.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,239 shares of the game software company’s stock after selling 9,250 shares during the period. Cresset Asset Management LLC’s holdings in Electronic Arts were worth $1,791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. raised its position in shares of Electronic Arts by 141.0% during the 4th 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 in the last quarter. Whipplewood Advisors LLC purchased a new stake in Electronic Arts during the fourth quarter valued at about $32,000. LGT Financial Advisors LLC bought a new stake in Electronic Arts during the fourth quarter worth about $33,000. Millstone Evans Group LLC purchased a new position in shares of Electronic Arts in the 4th quarter worth about $37,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Electronic Arts during the 4th quarter valued at about $41,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $145.65, for a total value of $218,475.00. Following the sale, the executive vice president now owns 19,033 shares in the company, valued at $2,772,156.45. This represents a 7.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction 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 transaction, the insider now owns 26,216 shares of the company’s stock, valued at $3,801,320. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock worth $3,118,120 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

Electronic Arts Price Performance

EA stock opened at $153.30 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The firm has a 50-day moving average of $143.36 and a 200 day moving average of $144.90. The company has a market cap of $39.95 billion, a P/E ratio of 39.01, a PEG ratio of 3.58 and a beta of 0.74.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts’s payout ratio is presently 19.34%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EA. Citigroup dropped their target price on Electronic Arts from $163.00 to $139.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Stifel Nicolaus lowered their price objective on shares of Electronic Arts from $167.00 to $159.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Robert W. Baird set a $168.00 target price on shares of Electronic Arts in a report on Wednesday. Roth Capital reissued a “neutral” rating on shares of Electronic Arts in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Electronic Arts from $135.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday. Fifteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $161.83.

Electronic Arts Company 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.