Freestone Grove Partners LP Makes New $997,000 Investment in Electronic Arts Inc. (NASDAQ:EA)

Freestone Grove Partners LP acquired a new stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,816 shares of the game software company's stock, valued at approximately $997,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Pinnacle Bancorp Inc. lifted its position in shares of Electronic Arts by 141.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company's stock valued at $29,000 after purchasing an additional 117 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Electronic Arts during the 4th quarter worth approximately $32,000. Millstone Evans Group LLC purchased a new position in shares of Electronic Arts in the 4th quarter worth approximately $37,000. SBI Securities Co. Ltd. bought a new position in shares of Electronic Arts in the fourth quarter valued at approximately $41,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Electronic Arts during the fourth quarter valued at approximately $42,000. 90.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Electronic Arts from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Tuesday, April 22nd. StockNews.com downgraded shares of Electronic Arts from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 5th. Wedbush reiterated an "outperform" rating and issued a $173.00 target price on shares of Electronic Arts in a research note on Thursday, January 23rd. BNP Paribas cut shares of Electronic Arts from an "outperform" rating to a "neutral" rating and set a $125.00 price target on the stock. in a report on Monday, January 27th. Finally, DA Davidson began coverage on Electronic Arts in a report on Wednesday, February 19th. They set a "neutral" rating and a $140.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $154.22.

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $130.14, for a total transaction of $650,700.00. Following the sale, the chief executive officer now owns 37,615 shares of the company's stock, valued at approximately $4,895,216.10. The trade was a 11.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $130.11, for a total transaction of $130,110.00. Following the completion of the sale, the chief financial officer now owns 9,516 shares of the company's stock, valued at $1,238,126.76. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,000 shares of company stock worth $3,056,270. Insiders own 0.22% of the company's stock.

Electronic Arts Price Performance

Shares of Electronic Arts stock traded down $0.04 on Tuesday, hitting $154.70. 2,978,061 shares of the company traded hands, compared to its average volume of 2,690,829. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $168.50. The firm's 50-day simple moving average is $141.39 and its 200 day simple moving average is $144.63. The company has a market cap of $40.32 billion, a P/E ratio of 39.36, a P/E/G ratio of 3.58 and a beta of 0.74. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The game software company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.06). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Analysts expect that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.49%. Electronic Arts's dividend payout ratio is presently 19.34%.

Electronic Arts 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.