Blueshift Asset Management LLC Invests $955,000 in Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Blueshift Asset Management LLC made a new investment in Electronic Arts Inc., purchasing 6,608 shares valued at approximately $955,000 in the first quarter.
• Insider Laura Miele sold 2,500 shares of Electronic Arts at an average price of $159.50, reducing her stake by 3.96% to a remaining 60,592 shares valued at about $9.66 million.
• Electronic Arts announced a quarterly $0.19 dividend to be paid on September 17th, which translates to an annualized dividend yield of 0.5%.

Blueshift Asset Management LLC acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,608 shares of the game software company's stock, valued at approximately $955,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in EA. Assenagon Asset Management S.A. grew its position in Electronic Arts by 689.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,238,496 shares of the game software company's stock worth $178,987,000 after buying an additional 1,081,589 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Electronic Arts by 1,366.6% in the 1st quarter. Pacer Advisors Inc. now owns 1,118,685 shares of the game software company's stock worth $161,672,000 after acquiring an additional 1,042,407 shares during the period. FMR LLC grew its holdings in shares of Electronic Arts by 224.8% during the 4th quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock worth $176,709,000 after purchasing an additional 835,985 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Electronic Arts by 130.0% in the fourth quarter. Royal Bank of Canada now owns 1,201,353 shares of the game software company's stock valued at $175,758,000 after purchasing an additional 679,032 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Electronic Arts by 11,587.9% in the first quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock worth $96,737,000 after purchasing an additional 663,640 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction that occurred on 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 owned 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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total transaction of $159,530.00. Following the transaction, the insider directly owned 37,131 shares of the company's stock, valued at $5,923,508.43. This represents a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,729 shares of company stock worth $4,677,324 over the last three months. 0.24% of the stock is owned by corporate insiders.

Electronic Arts Stock Performance

Shares of NASDAQ:EA traded up $4.59 on Friday, reaching $157.08. 4,396,980 shares of the company's stock were exchanged, compared to its average volume of 2,517,279. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The company has a fifty day moving average of $151.42 and a 200-day moving average of $143.25. The company has a market capitalization of $39.47 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 2.04 and a beta of 0.72. The company has a current ratio of 0.84, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.5%. Electronic Arts's payout ratio is currently 19.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup restated a "neutral" rating and issued a $153.00 target price (up previously from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Morgan Stanley upped their price objective on shares of Electronic Arts from $135.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Argus set a $170.00 price objective on shares of Electronic Arts in a report on Friday, May 16th. JPMorgan Chase & Co. boosted their target price on Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Hsbc Global Res upgraded Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Sixteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $164.21.

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.