KLP Kapitalforvaltning AS Acquires 7,000 Shares of Electronic Arts Inc. $EA

KLP Kapitalforvaltning AS boosted its holdings in Electronic Arts Inc. (NASDAQ:EA) by 7.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 95,533 shares of the game software company’s stock after buying an additional 7,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in Electronic Arts were worth $19,520,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Kapitalo Investimentos Ltda bought a new position in Electronic Arts in the 4th quarter valued at approximately $19,627,000. M&T Bank Corp raised its holdings in Electronic Arts by 52.0% in the 4th quarter. M&T Bank Corp now owns 43,411 shares of the game software company’s stock valued at $8,870,000 after buying an additional 14,845 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in Electronic Arts by 32.8% in the 4th quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after buying an additional 57 shares during the last quarter. Evergreen Capital Management LLC increased its position in Electronic Arts by 13.8% during the 4th quarter. Evergreen Capital Management LLC now owns 4,001 shares of the game software company’s stock valued at $818,000 after purchasing an additional 484 shares during the period. Finally, Cannon Global Investment Management LLC acquired a new stake in Electronic Arts during the 4th quarter valued at approximately $225,000. Institutional investors own 90.23% of the company’s stock.

Insider Activity at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $199.90, for a total value of $299,850.00. Following the transaction, the chief financial officer directly owned 5,897 shares of the company’s stock, valued at approximately $1,178,810.30. The trade was a 20.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $203.25, for a total value of $243,900.00. Following the completion of the sale, the insider owned 28,760 shares in the company, valued at $5,845,470. This represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 27,600 shares of company stock valued at $5,544,159 over the last quarter. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EA shares. Citigroup decreased their target price on shares of Electronic Arts from $207.00 to $202.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. UBS Group reiterated a “neutral” rating on shares of Electronic Arts in a report on Wednesday, February 4th. Three investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Electronic Arts has a consensus rating of “Hold” and an average target price of $188.30.

Electronic Arts Stock Performance

Shares of EA stock opened at $202.51 on Friday. The firm has a 50 day moving average of $201.60 and a 200-day moving average of $202.09. Electronic Arts Inc. has a 52 week low of $141.19 and a 52 week high of $204.88. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. The company has a market cap of $50.68 billion, a price-to-earnings ratio of 76.13, a price-to-earnings-growth ratio of 2.18 and a beta of 0.73.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, February 25th. Electronic Arts’s payout ratio is 28.57%.

Electronic Arts Company Profile

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.