Avanza Fonder AB Has $1.91 Million Stake in Electronic Arts Inc. (NASDAQ:EA)

Avanza Fonder AB lowered its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 27.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,175 shares of the game software company's stock after selling 5,078 shares during the quarter. Avanza Fonder AB's holdings in Electronic Arts were worth $1,909,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Financial Management Professionals Inc. increased its position in Electronic Arts by 15.0% in the 1st quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock valued at $81,000 after acquiring an additional 73 shares in the last quarter. Whipplewood Advisors LLC increased its position in Electronic Arts by 34.2% in 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. Intrust Bank NA increased its position in Electronic Arts by 3.3% in the 4th quarter. Intrust Bank NA now owns 2,475 shares of the game software company's stock valued at $362,000 after acquiring an additional 78 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Electronic Arts by 11.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the game software company's stock valued at $119,000 after acquiring an additional 81 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Electronic Arts by 4.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,951 shares of the game software company's stock valued at $282,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total transaction of $145,000.00. Following the completion of the transaction, the insider now owns 26,216 shares in the company, valued at approximately $3,801,320. This represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 2,666 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $150.93, for a total transaction of $402,379.38. Following the transaction, the chief executive officer now owns 67,393 shares of the company's stock, valued at $10,171,625.49. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,729 shares of company stock worth $4,107,664 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EA has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Benchmark raised their price objective 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. DA Davidson assumed coverage on shares of Electronic Arts in a research note on Wednesday, February 19th. They issued a "neutral" rating and a $140.00 target price on the stock. Citigroup reiterated a "neutral" rating and set a $153.00 price target (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Finally, HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price target for the company in a research report on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Electronic Arts has a consensus rating of "Hold" and an average target price of $161.88.

Electronic Arts Trading Down 1.0%

NASDAQ EA traded down $1.57 during trading on Friday, reaching $148.48. 1,703,905 shares of the stock traded hands, compared to its average volume of 2,755,662. The firm has a market cap of $37.23 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. The stock's 50-day moving average price is $146.88 and its 200 day moving average price is $143.29.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, May 28th. Electronic Arts's dividend payout ratio (DPR) is presently 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.