Electronic Arts (NASDAQ:EA) CFO Stuart Canfield Sells 3,500 Shares

Key Points

• Electronic Arts CFO Stuart Canfield sold 3,500 shares on September 26th at an average price of $187.80, resulting in a total of $657,300, which decreased his position by 23.12%.
• The company declared a quarterly dividend of $0.19 per share, resulting in an annualized dividend yield of 0.4%.
• Analysts have varied opinions on EA's stock; Jefferies Financial Group downgraded it to a "hold," while the consensus price target is $176.04.

Electronic Arts Inc. (NASDAQ:EA - Get Free Report) CFO Stuart Canfield sold 3,500 shares of the firm's stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $187.80, for a total transaction of $657,300.00. Following the completion of the transaction, the chief financial officer owned 11,640 shares in the company, valued at $2,185,992. This represents a 23.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, September 29th, Stuart Canfield sold 6,500 shares of Electronic Arts stock. The shares were sold at an average price of $203.40, for a total transaction of $1,322,100.00.
• 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%

NASDAQ:EA traded down $0.35 during trading hours on Tuesday, hitting $201.70. The company had a trading volume of 8,926,801 shares, compared to its average volume of 3,579,186. The company has a market capitalization of $50.47 billion, a PE ratio of 50.55, a price-to-earnings-growth ratio of 2.94 and a beta of 0.75. The stock has a 50-day moving average price of $168.65 and a 200 day moving average price of $155.12. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $203.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th were issued a $0.19 dividend. The ex-dividend date was Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's payout ratio is 19.05%.

Hedge Funds Weigh In On Electronic Arts

Large investors have recently modified their holdings of the stock. Norden Group LLC purchased a new position in shares of Electronic Arts in the 2nd quarter worth about $214,000. Focus Partners Advisor Solutions LLC bought a new stake in Electronic Arts in the 1st quarter worth about $319,000. CCM Investment Group LLC bought a new stake in Electronic Arts in the 1st quarter worth about $1,625,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Electronic Arts by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock worth $94,456,000 after buying an additional 13,461 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC increased its holdings in Electronic Arts by 4.6% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 91,328 shares of the game software company's stock worth $13,944,000 after buying an additional 3,999 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on EA shares. Jefferies Financial Group cut shares of Electronic Arts from a "buy" rating to a "hold" rating and lifted their price target for the company from $200.00 to $210.00 in a report on Tuesday. Robert W. Baird reissued a "neutral" rating and set a $210.00 price objective (up previously from $170.00) on shares of Electronic Arts in a research report on Monday. Bank of America raised their price objective on Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and raised their price objective for the company from $175.00 to $185.00 in a research report on Tuesday, June 24th. Finally, Hsbc Global Res lowered Electronic Arts from a "strong-buy" rating to a "hold" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twenty-one have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $176.04.

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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