Electronic Arts (NASDAQ:EA) CFO Sells $1,322,100.00 in Stock

Key Points

• Electronic Arts CFO Stuart Canfield sold 6,500 shares of the company's stock for a total of $1,322,100, significantly reducing his ownership by 55.84%.
• The company recently declared a quarterly dividend of $0.19 per share, with an annualized yield of 0.4% and a payout ratio of 19.05%.
• HSBC downgraded Electronic Arts from a "buy" to a "hold" rating, while other analysts have varied target prices, with a consensus average target of $176.04.

Electronic Arts Inc. (NASDAQ:EA - Get Free Report) CFO Stuart Canfield sold 6,500 shares of the company's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the transaction, the chief financial officer directly owned 5,140 shares of the company's stock, valued at approximately $1,045,476. This represents a 55.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Stuart Canfield also recently made the following trade(s):

• On Friday, September 26th, Stuart Canfield sold 3,500 shares of Electronic Arts stock. The shares were sold at an average price of $187.80, for a total transaction of $657,300.00.
• On Wednesday, August 20th, Stuart Canfield sold 1,000 shares of Electronic Arts stock. The shares were sold at an average price of $171.06, for a total transaction of $171,060.00.

Electronic Arts Trading Down 0.2%

Shares of NASDAQ EA traded down $0.35 on Tuesday, reaching $201.70. 8,926,801 shares of the company traded hands, compared to its average volume of 3,579,186. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $203.75. The company has a 50 day moving average of $168.65 and a 200 day moving average of $155.12. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $50.47 billion, a PE ratio of 50.55, a P/E/G ratio of 2.94 and a beta of 0.75.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts's dividend payout ratio is 19.05%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. HSBC downgraded shares of Electronic Arts from a "buy" rating to a "hold" rating and set a $191.00 target price for the company. in a research report on Monday. Oppenheimer downgraded shares of Electronic Arts from an "outperform" rating to a "market perform" rating in a research report on Tuesday. Bank of America increased their target price on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. BMO Capital Markets increased their target price on shares of Electronic Arts from $166.00 to $210.00 and gave the stock a "market perform" rating in a research report on Tuesday. Finally, Arete raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price for the company in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twenty-one have given a Hold rating to the company. According to data from MarketBeat, Electronic Arts currently has a consensus rating of "Hold" and an average price target of $176.04.

Hedge Funds Weigh In On Electronic Arts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Electronic Arts by 0.5% in the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock valued at $4,198,607,000 after acquiring an additional 150,438 shares during the period. State Street Corp lifted its holdings in shares of Electronic Arts by 5.8% during the second 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. Ninety One UK Ltd lifted its holdings in shares of Electronic Arts by 4.6% during the second quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company's stock valued at $695,645,000 after acquiring an additional 193,442 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of 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 buying an additional 1,300,336 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Electronic Arts by 10.1% in the second quarter. Invesco Ltd. now owns 4,112,305 shares of the game software company's stock valued at $656,735,000 after buying an additional 378,824 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Company 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.

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