Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 29,747 Shares of Electronic Arts Inc. $EA

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its Electronic Arts stake by 36.2% in the first quarter, selling 29,747 shares and leaving it with 52,465 shares worth about $10.7 million.
• Several Electronic Arts insiders sold stock over the past three months, including CEO Andrew Wilson and insider Laura Miele, with total insider sales totaling 39,906 shares worth about $8.06 million.
• Analysts currently have a mostly cautious stance on EA, with an average “Hold” rating and an average price target of $196.64, while the stock recently traded near its 12-month high at $206.35.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 36.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,465 shares of the game software company's stock after selling 29,747 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Electronic Arts were worth $10,696,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ascentis Independent Advisors bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $27,000. MV Capital Management Inc. bought a new position in shares of Electronic Arts in the fourth quarter worth approximately $28,000. Asset Planning Inc bought a new position in shares of Electronic Arts in the first quarter worth approximately $32,000. Whipplewood Advisors LLC purchased a new stake in Electronic Arts in the first quarter valued at approximately $32,000. Finally, Fideuram Asset Management Ireland dac purchased a new stake in Electronic Arts in the fourth quarter valued at approximately $44,000. Institutional investors own 90.23% of the company's stock.

Insider Buying and Selling at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $203.21, for a total transaction of $508,025.00. Following the transaction, the insider owned 43,343 shares of the company's stock, valued at approximately $8,807,731.03. This trade represents a 5.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,066 shares of Electronic Arts stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the completion of the transaction, the chief executive officer owned 85,974 shares in the company, valued at approximately $17,337,516.84. The trade was a 5.56% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last three months, insiders sold 39,906 shares of company stock valued at $8,060,033. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EA shares. Argus cut shares of Electronic Arts from a "buy" rating to a "hold" rating in a research note on Thursday, May 28th. Citigroup raised their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of Electronic Arts to a "hold" rating in a report on Saturday, June 6th. Finally, Weiss Ratings raised shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $196.64.

Electronic Arts Price Performance

Shares of Electronic Arts stock opened at $206.35 on Tuesday. The firm has a market capitalization of $51.74 billion, a PE ratio of 59.13, a price-to-earnings-growth ratio of 2.31 and a beta of 0.64. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 12 month low of $146.97 and a 12 month high of $206.82. The business's 50-day moving average price is $202.84 and its 200-day moving average price is $202.54.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts's dividend payout ratio (DPR) is presently 21.78%.

Electronic Arts Company 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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