Shell Asset Management Co. Sells 11,050 Shares of Electronic Arts Inc. $EA

Shell Asset Management Co. cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 51.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,447 shares of the game software company’s stock after selling 11,050 shares during the period. Shell Asset Management Co.’s holdings in Electronic Arts were worth $2,107,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of EA. State Street Corp grew its position in shares of Electronic Arts by 5.8% during the 2nd quarter. State Street Corp now owns 17,072,959 shares of the game software company’s stock valued at $2,726,552,000 after acquiring an additional 932,024 shares during the period. Ameriprise Financial Inc. raised its stake in Electronic Arts by 44.6% in the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock valued at $673,393,000 after purchasing an additional 1,300,336 shares in the last quarter. Invesco Ltd. increased its position in shares of Electronic Arts by 10.1% during the 2nd quarter. Invesco Ltd. now owns 4,112,305 shares of the game software company’s stock valued at $656,735,000 after purchasing an additional 378,824 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Electronic Arts by 17.0% during the second quarter. First Trust Advisors LP now owns 2,430,876 shares of the game software company’s stock worth $388,211,000 after acquiring an additional 353,327 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Electronic Arts by 50.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,365,221 shares of the game software company’s stock worth $377,726,000 after purchasing an additional 791,978 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EA shares. Argus set a $210.00 price target on shares of Electronic Arts in a report on Thursday, October 30th. Citigroup reduced their price target on Electronic Arts from $207.00 to $202.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. Morgan Stanley increased their price objective on Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Benchmark reissued a “buy” rating on shares of Electronic Arts in a research note on Wednesday, October 29th. Finally, Zacks Research downgraded shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Four research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $186.95.

Electronic Arts Price Performance

NASDAQ:EA opened at $200.62 on Friday. The business’s 50-day simple moving average is $203.46 and its two-hundred day simple moving average is $192.61. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 52 week low of $128.02 and a 52 week high of $204.88. The stock has a market cap of $50.21 billion, a PE ratio of 75.42, a P/E/G ratio of 2.42 and a beta of 0.74.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, February 25th. Electronic Arts’s dividend payout ratio is currently 28.57%.

Insiders Place Their Bets

In related news, Director Jeff Huber sold 16,788 shares of Electronic Arts stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $200.72, for a total transaction of $3,369,687.36. Following the completion of the transaction, the director directly owned 1,980 shares of the company’s stock, valued at approximately $397,425.60. The trade was a 89.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $204.27, for a total transaction of $510,675.00. Following the completion of the sale, the insider directly owned 50,648 shares of the company’s stock, valued at approximately $10,345,866.96. This trade represents a 4.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 123,769 shares of company stock worth $24,943,734. 0.24% of the stock is currently owned by company insiders.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.