ASR Vermogensbeheer N.V. Acquires Shares of 17,084 Electronic Arts Inc. (NASDAQ:EA)

Key Points

• ASR Vermogensbeheer N.V. has acquired a notable stake in Electronic Arts Inc., purchasing 17,084 shares valued at approximately $2.47 million during the first quarter.
• Multiple hedge funds, including Goldman Sachs and Vanguard Group, have increased their holdings in Electronic Arts, reflecting a growing institutional interest in the company.
• Recent analyst ratings show a consensus of a Moderate Buy on Electronic Arts, with a target price average of $166.35, highlighting positive sentiment among market analysts.

ASR Vermogensbeheer N.V. acquired a new stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,084 shares of the game software company's stock, valued at approximately $2,469,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Electronic Arts by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock valued at $4,198,607,000 after purchasing an additional 150,438 shares during the period. Goldman Sachs Group Inc. increased its holdings in Electronic Arts by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock valued at $470,197,000 after buying an additional 1,254,194 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Electronic Arts by 160.4% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 599 shares of the game software company's stock valued at $87,000 after buying an additional 369 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of Electronic Arts in the first quarter worth about $40,000. Finally, Thoroughbred Financial Services LLC boosted its stake in shares of Electronic Arts by 6.7% during the 1st quarter. Thoroughbred Financial Services LLC now owns 6,347 shares of the game software company's stock worth $917,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EA. Wells Fargo & Company set a $168.00 price target on Electronic Arts and gave the company an "equal weight" rating in a research note on Monday, July 28th. Robert W. Baird boosted their price objective on Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Arete raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price target on the stock in a research note on Tuesday. Finally, Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $175.00 to $185.00 in a research report on Tuesday, June 24th. Sixteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $166.35.

Insider Activity

In other news, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the sale, the insider owned 58,092 shares in the company, valued at $9,032,725.08. This trade represents a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the transaction, the insider owned 37,131 shares in the company, valued at $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,729 shares of company stock valued at $4,677,124. Company insiders own 0.24% of the company's stock.

Electronic Arts Stock Down 0.2%

NASDAQ EA opened at $162.75 on Friday. The business's fifty day simple moving average is $152.68 and its 200-day simple moving average is $143.79. The company has a quick ratio of 0.95, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a market cap of $40.72 billion, a PE ratio of 40.79, a P/E/G ratio of 2.10 and a beta of 0.72. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50.

Electronic Arts Dividend Announcement

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

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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