Cullinan Associates Inc. Decreases Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Cullinan Associates Inc. decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 22.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,134 shares of the game software company's stock after selling 30,809 shares during the period. Electronic Arts comprises approximately 1.1% of Cullinan Associates Inc.'s investment portfolio, making the stock its 23rd largest holding. Cullinan Associates Inc.'s holdings in Electronic Arts were worth $15,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EA. Putney Financial Group LLC acquired a new position in Electronic Arts in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in Electronic Arts in the 1st quarter valued at $28,000. Whipplewood Advisors LLC acquired a new position in Electronic Arts in the 4th quarter valued at $32,000. LGT Financial Advisors LLC acquired a new position in Electronic Arts in the 4th quarter valued at $33,000. Finally, Millstone Evans Group LLC acquired a new position in Electronic Arts in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup reaffirmed a "neutral" rating and issued a $153.00 target price (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. HSBC raised Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a research note on Wednesday, May 7th. Oppenheimer raised their target price on Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. TD Cowen raised their target price on Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley raised their target price on Electronic Arts from $135.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Fifteen equities research 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.com, Electronic Arts has an average rating of "Hold" and an average price target of $161.88.

Insider Activity

In related news, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $145.65, for a total transaction of $218,475.00. Following the completion of the sale, the executive vice president now owns 19,033 shares in the company, valued at $2,772,156.45. The trade was a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $145.37, for a total value of $726,850.00. Following the sale, the chief executive officer now owns 27,615 shares of the company's stock, valued at approximately $4,014,392.55. The trade was a 15.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,229 shares of company stock worth $3,618,199. 0.22% of the stock is currently owned by company insiders.

Electronic Arts Stock Performance

NASDAQ EA opened at $150.56 on Friday. The company has a market cap of $37.76 billion, a P/E ratio of 35.51, a P/E/G ratio of 2.07 and a beta of 0.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day moving average of $148.19 and a two-hundred day moving average of $142.64. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, May 28th. Electronic Arts's payout ratio is presently 17.92%.

Electronic Arts Company 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.

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