Assenagon Asset Management S.A. Has $178.99 Million Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Assenagon Asset Management S.A. boosted its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 689.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,238,496 shares of the game software company's stock after purchasing an additional 1,081,589 shares during the quarter. Assenagon Asset Management S.A. owned 0.48% of Electronic Arts worth $178,987,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Putney Financial Group LLC bought a new position in Electronic Arts during the 4th quarter worth $26,000. Whipplewood Advisors LLC bought a new position in shares of Electronic Arts in the 4th quarter worth $32,000. LGT Financial Advisors LLC bought a new stake in shares of Electronic Arts during the fourth quarter worth about $33,000. Millstone Evans Group LLC purchased a new position in shares of Electronic Arts during the fourth quarter valued at approximately $37,000. Finally, American National Bank & Trust bought a new stake in shares of Electronic Arts in the 1st quarter worth $40,000. 90.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total transaction of $151,320.00. Following the completion of the transaction, the chief financial officer now owns 14,533 shares in the company, valued at approximately $2,199,133.56. This trade represents a 6.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $142.50, for a total transaction of $712,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,615 shares in the company, valued at approximately $4,647,637.50. This trade represents a 13.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,729 shares of company stock worth $4,107,664. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EA shares. Moffett Nathanson reissued a "neutral" rating and set a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, May 7th. HSBC raised shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a report on Wednesday, May 7th. Wedbush lifted their price target on shares of Electronic Arts from $179.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. Finally, Citigroup reaffirmed a "neutral" rating and set a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $161.88.

Electronic Arts Stock Performance

Shares of NASDAQ:EA traded up $0.66 during midday trading on Thursday, hitting $148.34. The stock had a trading volume of 556,423 shares, compared to its average volume of 2,749,035. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The stock has a 50 day moving average price of $146.25 and a two-hundred day moving average price of $143.50. The company has a market capitalization of $37.20 billion, a PE ratio of 37.75, a P/E/G ratio of 3.58 and a beta of 0.71.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts's payout ratio is currently 17.92%.

About Electronic Arts

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.