Acadian Asset Management LLC Sells 280,608 Shares of Electronic Arts Inc. $EA

Key Points

• Acadian Asset Management LLC reduced its stake in Electronic Arts by 29.4% in the first quarter, selling 280,608 shares and now owning approximately 673,443 shares valued at $97.3 million.
• CEO Andrew Wilson and CFO Stuart Canfield have both sold shares, with the CEO selling 5,000 shares for about $855,250, marking an 8.71% decrease in his position.
• Electronic Arts has declared a quarterly dividend of $0.19 per share, with a payout ratio of 19.05%, indicating ongoing financial stability despite insider sales.

Acadian Asset Management LLC lowered its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 29.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 673,443 shares of the game software company's stock after selling 280,608 shares during the quarter. Acadian Asset Management LLC owned approximately 0.27% of Electronic Arts worth $97,306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Management Professionals Inc. grew its stake in Electronic Arts by 15.0% in the first quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock worth $81,000 after purchasing an additional 73 shares in the last quarter. Bank of Jackson Hole Trust boosted its position 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 acquiring an additional 75 shares in the last quarter. Whipplewood Advisors LLC boosted its position in Electronic Arts by 34.2% during the 1st quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock valued at $43,000 after acquiring an additional 76 shares in the last quarter. Clarius Group LLC boosted its position in Electronic Arts by 3.6% during the 1st quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock valued at $319,000 after acquiring an additional 77 shares in the last quarter. Finally, Conning Inc. boosted its position in Electronic Arts by 4.7% during the 1st quarter. Conning Inc. now owns 1,749 shares of the game software company's stock valued at $253,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 90.23% of the company's stock.

Insider Activity at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total transaction of $855,250.00. Following the completion of the sale, the chief executive officer owned 52,393 shares of the company's stock, valued at approximately $8,961,822.65. The trade was a 8.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $171.06, for a total value of $171,060.00. Following the sale, the chief financial officer directly owned 15,140 shares of the company's stock, valued at approximately $2,589,848.40. This represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,900 shares of company stock worth $4,778,597 in the last quarter. 0.24% of the stock is owned by insiders.

Electronic Arts Stock Up 0.5%

Electronic Arts stock opened at $166.83 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $41.74 billion, a price-to-earnings ratio of 41.63, a PEG ratio of 2.17 and a beta of 0.75. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $180.90. The business has a fifty day moving average price of $162.09 and a 200-day moving average price of $151.02.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.5%. Electronic Arts's payout ratio is currently 19.05%.

Analysts Set New Price Targets

Several brokerages have issued reports on EA. Citigroup reaffirmed a "neutral" rating and set a $153.00 target price (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Argus set a $170.00 target price on Electronic Arts in a research report on Friday, May 16th. Robert W. Baird increased their target price on Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and increased their target price for the company from $175.00 to $185.00 in a research report on Tuesday, June 24th. Finally, Wedbush reaffirmed an "outperform" rating and set a $210.00 target price on shares of Electronic Arts in a research report on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $167.12.

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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