Electronic Arts Inc. $EA Shares Sold by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC reduced its stake by 97.2% — it sold 98,658 shares of Electronic Arts in Q4 and was left with 2,873 shares worth about $587,000 at quarter end.
• Company insiders have been selling — CFO Stuart Canfield sold 1,500 shares at $199.90 and CEO Andrew Wilson sold 5,000 shares at $199.95, with insiders disposing of 27,600 shares valued at $5.55M in the last 90 days.
• Analyst consensus is "Hold" (3 Buys, 19 Holds, 1 Sell) with an average target of $188.30 while the stock trades near $202.57, and EA pays a $0.19 quarterly dividend (≈0.4% yield).

DAVENPORT & Co LLC reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 97.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,873 shares of the game software company's stock after selling 98,658 shares during the quarter. DAVENPORT & Co LLC's holdings in Electronic Arts were worth $587,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock valued at $500,000 after purchasing an additional 294 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Electronic Arts by 167.0% in the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company's stock valued at $2,790,000 after purchasing an additional 12,076 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Electronic Arts by 150.8% during the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company's stock worth $46,000 after buying an additional 190 shares in the last quarter. Choreo LLC boosted its holdings in Electronic Arts by 19.2% during the second quarter. Choreo LLC now owns 4,324 shares of the game software company's stock worth $691,000 after buying an additional 698 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Electronic Arts by 6.2% during the second quarter. Quadrant Capital Group LLC now owns 4,263 shares of the game software company's stock valued at $681,000 after buying an additional 249 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group reaffirmed a "neutral" rating on shares of Electronic Arts in a report on Wednesday, February 4th. Citigroup dropped their target price on Electronic Arts from $207.00 to $202.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Electronic Arts has an average rating of "Hold" and an average target price of $188.30.

Insider Activity at Electronic Arts

In related news, CFO Stuart Canfield sold 1,500 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $199.90, for a total value of $299,850.00. Following the transaction, the chief financial officer directly owned 5,897 shares of the company's stock, valued at approximately $1,178,810.30. This trade represents a 20.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $199.95, for a total value of $999,750.00. Following the completion of the sale, the chief executive officer owned 28,858 shares in the company, valued at approximately $5,770,157.10. The trade was a 14.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,600 shares of company stock worth $5,553,319 in the last ninety days. 0.24% of the stock is owned by company insiders.

Electronic Arts Price Performance

Electronic Arts stock opened at $202.57 on Tuesday. The stock has a market capitalization of $50.69 billion, a P/E ratio of 76.15, a P/E/G ratio of 2.40 and a beta of 0.75. The company's fifty day moving average price is $201.27 and its 200 day moving average price is $199.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.93. Electronic Arts Inc. has a 1 year low of $131.15 and a 1 year high of $204.88.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were given a $0.19 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts's dividend payout ratio (DPR) is 28.57%.

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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