Baker Avenue Asset Management LP Cuts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Baker Avenue Asset Management LP cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 284,175 shares of the game software company's stock after selling 9,819 shares during the quarter. Electronic Arts accounts for approximately 1.3% of Baker Avenue Asset Management LP's holdings, making the stock its 21st biggest holding. Baker Avenue Asset Management LP owned approximately 0.11% of Electronic Arts worth $41,575,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in EA. Pinnacle Bancorp Inc. grew its holdings in Electronic Arts by 141.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company's stock worth $29,000 after acquiring an additional 117 shares during the last quarter. Whipplewood Advisors LLC bought a new position in Electronic Arts during the 4th quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new stake in shares of Electronic Arts in the 4th quarter worth approximately $33,000. Millstone Evans Group LLC purchased a new position in shares of Electronic Arts during the fourth quarter valued at approximately $37,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Electronic Arts during the fourth quarter valued at approximately $41,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Performance

Shares of EA traded up $0.96 during mid-day trading on Wednesday, hitting $155.50. 5,429,816 shares of the company traded hands, compared to its average volume of 2,703,010. The stock has a market cap of $40.53 billion, a price-to-earnings ratio of 39.57, a P/E/G ratio of 3.58 and a beta of 0.74. The stock has a 50-day moving average price of $142.40 and a two-hundred day moving average price of $144.78. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38.

Electronic Arts (NASDAQ:EA - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Equities analysts anticipate that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Wednesday, May 28th. Electronic Arts's payout ratio is 19.34%.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $130.83, for a total value of $327,075.00. Following the completion of the transaction, the insider now directly owns 47,514 shares in the company, valued at $6,216,256.62. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the firm's stock in a transaction on 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 in the company, valued at $4,895,216.10. The trade was a 11.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,000 shares of company stock worth $3,056,270. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on EA. Ascendiant Capital Markets raised their target price on shares of Electronic Arts from $157.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Raymond James cut Electronic Arts from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 23rd. UBS Group upped their target price on Electronic Arts from $152.00 to $167.00 and gave the stock a "neutral" rating in a report on Wednesday. Bank of America lifted their price target on Electronic Arts from $130.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Finally, Moffett Nathanson reiterated a "neutral" rating and issued a $163.00 price objective on shares of Electronic Arts in a report on Wednesday. Fifteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Electronic Arts currently has an average rating of "Hold" and a consensus target price of $161.63.

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.