Allspring Global Investments Holdings LLC lifted its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,922 shares of the game software company's stock after purchasing an additional 3,462 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of Electronic Arts worth $29,414,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of EA. Putney Financial Group LLC purchased a new stake in Electronic Arts in the fourth quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the first quarter valued at $28,000. LGT Financial Advisors LLC purchased a new stake in Electronic Arts in the fourth quarter valued at $33,000. Millstone Evans Group LLC purchased a new stake in Electronic Arts in the fourth quarter valued at $37,000. Finally, American National Bank & Trust purchased a new stake in Electronic Arts in the first quarter valued at $40,000. 90.23% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Electronic Arts
In other news, CFO Stuart Canfield sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total value of $151,320.00. Following the sale, the chief financial officer directly owned 14,533 shares in the company, valued at $2,199,133.56. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $155.57, for a total transaction of $388,925.00. Following the completion of the sale, the insider owned 40,189 shares in the company, valued at $6,252,202.73. This represents a 5.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,729 shares of company stock valued at $4,784,679. 0.24% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Benchmark boosted their price target on shares of Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Roth Capital raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and upped their target price for the company from $175.00 to $185.00 in a report on Tuesday, June 24th. HSBC raised shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a report on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and issued a $153.00 target price (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Finally, Moffett Nathanson reaffirmed a "neutral" rating and issued a $163.00 target price on shares of Electronic Arts in a report on Wednesday, May 7th. Fourteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $162.80.
Get Our Latest Report on Electronic Arts
Electronic Arts Price Performance
EA traded down $1.68 on Friday, hitting $155.35. 1,321,185 shares of the company were exchanged, compared to its average volume of 2,821,253. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. The business's fifty day moving average is $150.64 and its 200 day moving average is $142.38. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The firm has a market capitalization of $39.03 billion, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.73.
Electronic Arts Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 annualized dividend and a yield of 0.49%. Electronic Arts's payout ratio is currently 17.92%.
Electronic Arts Profile
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Free Report)
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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