Baker Avenue Asset Management LP Has $34.61 Million Stock Holdings in Electronic Arts Inc. $EA

Key Points

• Baker Avenue Asset Management cut its stake in Electronic Arts by 15.9% in the fourth quarter, leaving it with 169,372 shares worth about $34.6 million. EA now makes up 0.8% of the firm’s portfolio.
• Institutional ownership remains heavy, with hedge funds and large investors holding about 90.23% of Electronic Arts shares. Several firms increased positions, including Geode Capital Management, while others opened new stakes.
• Insiders sold shares recently: CFO Stuart Canfield and EVP Jacob J. Schatz both sold stock in May under pre-arranged plans, and insiders have sold about $8.0 million worth of shares over the past 90 days. Analysts currently rate EA a consensus Hold with an average price target of $196.64.

Baker Avenue Asset Management LP trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,372 shares of the game software company's stock after selling 31,942 shares during the period. Electronic Arts comprises 0.8% of Baker Avenue Asset Management LP's holdings, making the stock its 26th largest position. Baker Avenue Asset Management LP owned approximately 0.07% of Electronic Arts worth $34,608,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EA. Geode Capital Management LLC raised its holdings in shares of Electronic Arts by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,764,572 shares of the game software company's stock valued at $1,382,030,000 after purchasing an additional 143,195 shares during the period. Integrity Alliance LLC. bought a new stake in shares of Electronic Arts in the 4th quarter valued at about $908,000. AlphaQuest LLC raised its holdings in shares of Electronic Arts by 478.3% in the 4th quarter. AlphaQuest LLC now owns 16,678 shares of the game software company's stock valued at $3,408,000 after purchasing an additional 13,794 shares during the period. Allstate Corp raised its holdings in shares of Electronic Arts by 105.8% in the 4th quarter. Allstate Corp now owns 18,448 shares of the game software company's stock valued at $3,769,000 after purchasing an additional 9,485 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Electronic Arts by 19.7% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 820 shares of the game software company's stock valued at $168,000 after purchasing an additional 135 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total value of $302,040.00. Following the transaction, the chief financial officer directly owned 25,991 shares of the company's stock, valued at $5,233,547.76. This represents a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jacob J. Schatz sold 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the completion of the transaction, the executive vice president directly owned 42,287 shares in the company, valued at approximately $8,507,721.53. This represents a 10.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 39,906 shares of company stock valued at $8,032,336 in the last 90 days. Insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EA shares. Weiss Ratings raised shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 18th. Citigroup upped their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Electronic Arts in a report on Wednesday, February 4th. Three research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Electronic Arts presently has a consensus rating of "Hold" and an average price target of $196.64.

Electronic Arts Stock Down 0.2%

Electronic Arts stock opened at $200.68 on Thursday. The stock has a market cap of $50.32 billion, a P/E ratio of 57.50, a P/E/G ratio of 2.22 and a beta of 0.66. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a twelve month low of $141.19 and a twelve month high of $204.88. The company's 50-day moving average price is $202.03 and its two-hundred day moving average price is $202.25.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, May 27th. Electronic Arts's dividend payout ratio is currently 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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