Arrowstreet Capital Limited Partnership Makes New $21.64 Million Investment in Electronic Arts Inc. $EA

Key Points

• Arrowstreet Capital initiated a $21.64 million position in Electronic Arts, purchasing 106,121 shares during the first quarter. Institutional investors and hedge funds collectively own 90.23% of EA’s stock.
• Wall Street remains broadly neutral on EA, with a consensus “Hold” rating and an average price target of $201.42; ratings include two Buys, 14 Holds, and two Sells.
• EA insiders sold 31,206 shares worth approximately $6.29 million during the last quarter, while the company maintains a quarterly dividend of $0.19 per share, equivalent to a 0.4% yield.

Arrowstreet Capital Limited Partnership purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 106,121 shares of the game software company's stock, valued at approximately $21,635,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in shares of Electronic Arts by 9.4% during the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock worth $500,000 after buying an additional 294 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Electronic Arts by 167.0% in the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company's stock worth $2,790,000 after acquiring an additional 12,076 shares during the period. Geneos Wealth Management Inc. increased its position in Electronic Arts by 150.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company's stock worth $46,000 after purchasing an additional 190 shares during the period. Jump Financial LLC purchased a new position in Electronic Arts in the second quarter worth $2,323,000. Finally, NewEdge Advisors LLC raised its position in Electronic Arts by 96.4% in the second quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company's stock worth $490,000 after acquiring an additional 1,505 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EA shares. Wall Street Zen upgraded shares of Electronic Arts to a "hold" rating in a research report on Saturday, June 6th. Argus cut Electronic Arts from a "buy" rating to a "hold" rating in a research report on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 18th. Zacks Research cut Electronic Arts from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Finally, Citigroup increased their price objective on Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $201.42.

Insiders Place Their Bets

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.10, for a total transaction of $507,750.00. Following the transaction, the insider owned 73,513 shares of the company's stock, valued at $14,930,490.30. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the sale, the chief executive officer directly owned 80,974 shares of the company's stock, valued at approximately $16,447,438.88. This represents a 5.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 31,206 shares of company stock valued at $6,292,058. 0.24% of the stock is owned by insiders.

Electronic Arts Stock Performance

Electronic Arts stock opened at $208.91 on Thursday. The company has a market capitalization of $52.38 billion, a price-to-earnings ratio of 59.86, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64. Electronic Arts Inc. has a 12-month low of $150.87 and a 12-month high of $209.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The firm's fifty day moving average price is $204.70 and its 200 day moving average price is $202.89.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts's payout ratio is 21.78%.

Electronic Arts Profile

Electronic Arts Inc NASDAQ: EA is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA's product lineup spans several well-known franchises and genres.

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