2,520 Shares in Electronic Arts Inc. $EA Purchased by Curbstone Financial Management Corp

Key Points

• Curbstone Financial Management Corp acquired 2,520 shares of Electronic Arts Inc., valued at approximately $402,000, in the second quarter of the year.
• Insider selling was significant, with CFO Stuart Canfield selling 6,500 shares and CEO Andrew Wilson selling 5,000 shares, marking noticeable decreases in their ownership stakes.
• Electronic Arts has a current market capitalization of $50.12 billion and recently announced a quarterly dividend with a yield of 0.4%.

Curbstone Financial Management Corp bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,520 shares of the game software company's stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Electronic Arts by 3.7% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,023 shares of the game software company's stock worth $323,000 after acquiring an additional 72 shares during the period. Bank of Jackson Hole Trust grew its holdings in Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after buying an additional 75 shares in the last quarter. Financial Management Professionals Inc. increased its position in shares of Electronic Arts by 13.6% during the second quarter. Financial Management Professionals Inc. now owns 636 shares of the game software company's stock valued at $102,000 after buying an additional 76 shares during the period. Conning Inc. lifted its holdings in shares of Electronic Arts by 4.7% in the first quarter. Conning Inc. now owns 1,749 shares of the game software company's stock worth $253,000 after buying an additional 78 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of Electronic Arts by 7.8% in the first quarter. Rosenberg Matthew Hamilton now owns 1,121 shares of the game software company's stock worth $162,000 after buying an additional 81 shares in the last quarter. Institutional investors own 90.23% of the company's stock.

Insiders Place Their Bets

In other Electronic Arts news, CFO Stuart Canfield sold 6,500 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,045,476. This trade represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $172.79, for a total transaction of $863,950.00. Following the completion of the sale, the chief executive officer owned 47,393 shares of the company's stock, valued at approximately $8,189,036.47. The trade was a 9.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,900 shares of company stock valued at $7,506,487 over the last 90 days. Company insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EA. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the stock an "equal weight" rating in a report on Monday, July 28th. Bank of America increased their price objective on Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. DZ Bank lowered Electronic Arts from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, September 29th. TD Cowen lowered Electronic Arts from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Electronic Arts in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $177.00.

Electronic Arts Trading Down 0.0%

NASDAQ EA opened at $200.30 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The stock's 50-day simple moving average is $180.90 and its two-hundred day simple moving average is $160.53. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $203.75. The company has a market capitalization of $50.12 billion, a price-to-earnings ratio of 50.20, a PEG ratio of 3.04 and a beta of 0.77.

Electronic Arts Dividend Announcement

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

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.

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.