Cresset Asset Management LLC cut its holdings in Electronic Arts Inc. (NASDAQ:EA – Free Report) by 9.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,022 shares of the game software company’s stock after selling 1,217 shares during the period. Cresset Asset Management LLC’s holdings in Electronic Arts were worth $1,593,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of EA. Putney Financial Group LLC acquired a new position in shares of Electronic Arts in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts in the first quarter valued at about $28,000. Bank of Jackson Hole Trust grew its stake in shares of Electronic Arts by 56.4% in the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock valued at $30,000 after acquiring an additional 75 shares in the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Electronic Arts in the fourth quarter valued at about $33,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Electronic Arts in the first quarter valued at about $39,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on EA shares. The Goldman Sachs Group upped their price target on shares of Electronic Arts from $135.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. DA Davidson increased their price objective on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Robert W. Baird increased their price objective on shares of Electronic Arts from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, Bank of America increased their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.12.
Insider Activity at Electronic Arts
In other news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the transaction, the insider owned 37,131 shares of the company’s stock, valued at approximately $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the transaction, the insider directly owned 58,092 shares of the company’s stock, valued at $9,032,725.08. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,200 shares of company stock worth $3,116,350 over the last three months. 0.24% of the stock is owned by insiders.
Electronic Arts Stock Up 0.4%
EA stock opened at $171.33 on Thursday. The stock has a market capitalization of $42.87 billion, a P/E ratio of 42.94, a price-to-earnings-growth ratio of 2.20 and a beta of 0.72. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $180.90. The firm has a 50-day moving average price of $157.52 and a 200-day moving average price of $146.90.
Electronic Arts Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is 19.05%.
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.
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