Blueshift Asset Management LLC Buys New Shares 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 stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,608 shares of the game software company's stock, valued at approximately $955,000.

A number of other large investors also recently added to or reduced their stakes in the company. Nomura Holdings Inc. grew its holdings in shares of Electronic Arts by 11.7% during the fourth quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock worth $4,566,000 after purchasing an additional 3,259 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Electronic Arts by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock worth $94,456,000 after acquiring an additional 13,461 shares during the period. GAMMA Investing LLC grew its stake in shares of Electronic Arts by 11,587.9% during the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock valued at $96,737,000 after buying an additional 663,640 shares during the period. Arlington Partners LLC lifted its holdings in shares of Electronic Arts by 23.3% during the 1st quarter. Arlington Partners LLC now owns 34,536 shares of the game software company's stock valued at $4,991,000 after acquiring an additional 6,532 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Electronic Arts by 45.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,397 shares of the game software company's stock valued at $2,370,000 after buying an additional 5,130 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have 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 report on Thursday, May 29th. UBS Group set a $167.00 price target on shares of Electronic Arts and gave the company a "neutral" rating in a report on Friday. Wall Street Zen downgraded shares of Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday. Argus set a $170.00 price objective on shares of Electronic Arts in a report on Friday, May 16th. Finally, TD Cowen boosted their price objective on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Sixteen 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $165.32.

Insider Buying and Selling

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total value of $222,480.00. Following the transaction, the executive vice president directly owned 28,448 shares of the company's stock, valued at $4,219,407.36. This trade represents a 5.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 6,563 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $151.18, for a total transaction of $992,194.34. Following the completion of the sale, the chief executive officer owned 70,059 shares in the company, valued at approximately $10,591,519.62. The trade was a 8.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,229 shares of company stock valued at $5,066,049. 0.24% of the stock is owned by company insiders.

Electronic Arts Stock Performance

Shares of EA traded up $1.17 during trading hours on Tuesday, hitting $160.94. The company had a trading volume of 1,243,205 shares, compared to its average volume of 3,498,760. The firm has a market cap of $40.44 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 2.03 and a beta of 0.72. The business has a fifty day moving average of $151.68 and a 200-day moving average of $143.39. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company has a quick ratio of 0.95, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Announces Dividend

The firm also recently declared 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. This represents a $0.76 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts's dividend payout ratio (DPR) is currently 19.05%.

Electronic Arts 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.