OP Asset Management Ltd Takes Position in Electronic Arts Inc. $EA

OP Asset Management Ltd acquired a new position in Electronic Arts Inc. (NASDAQ:EA) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,628 shares of the game software company’s stock, valued at approximately $8,691,000.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after acquiring an additional 294 shares during the period. Empowered Funds LLC increased its stake in shares of Electronic Arts by 167.0% during the first quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after acquiring an additional 12,076 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Electronic Arts by 150.8% during the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after acquiring an additional 190 shares during the period. Jump Financial LLC bought a new stake in Electronic Arts during the second quarter worth approximately $2,323,000. Finally, NewEdge Advisors LLC raised its holdings in Electronic Arts by 96.4% during the second quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after purchasing an additional 1,505 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $204.73 on Friday. The stock’s fifty day simple moving average is $202.23 and its 200 day simple moving average is $202.40. The stock has a market capitalization of $51.34 billion, a price-to-earnings ratio of 58.66, a PEG ratio of 2.30 and a beta of 0.65. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 52-week low of $146.97 and a 52-week high of $205.22.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 21.78%.

Insider Activity

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $203.21, for a total transaction of $508,025.00. Following the transaction, the insider directly owned 43,343 shares in the company, valued at approximately $8,807,731.03. The trade was a 5.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,066 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the sale, the chief executive officer directly owned 85,974 shares in the company, valued at approximately $17,337,516.84. This trade represents a 5.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 39,906 shares of company stock valued at $8,060,033. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Wall Street Zen raised Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Finally, Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $196.64.

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.