Electronic Arts Inc. $EA Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. decreased its stake in Electronic Arts Inc. by 1.2%, now holding 194,870 shares valued at approximately $31.1 million.
• Insider trading activity was noted, with CEO Andrew Wilson and insider Laura Miele selling shares, representing an 8.71% and 4.30% decrease in their respective positions.
• The stock currently holds a market cap of $50.09 billion and has a consensus rating of "Hold" with a price target of $177.00 from various analysts.

Deroy & Devereaux Private Investment Counsel Inc. lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 194,870 shares of the game software company's stock after selling 2,434 shares during the period. Electronic Arts comprises 1.7% of Deroy & Devereaux Private Investment Counsel Inc.'s portfolio, making the stock its 18th largest holding. Deroy & Devereaux Private Investment Counsel Inc. owned 0.08% of Electronic Arts worth $31,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Generali Asset Management SPA SGR boosted its holdings in Electronic Arts by 353.5% during the second quarter. Generali Asset Management SPA SGR now owns 33,016 shares of the game software company's stock worth $5,273,000 after buying an additional 25,736 shares in the last quarter. JGP Wealth Management LLC boosted its holdings in Electronic Arts by 1.6% during the second quarter. JGP Wealth Management LLC now owns 6,685 shares of the game software company's stock worth $1,068,000 after buying an additional 107 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in Electronic Arts during the second quarter worth about $217,000. Frazier Financial Advisors LLC boosted its holdings in Electronic Arts by 328.9% during the second quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company's stock worth $31,000 after buying an additional 148 shares in the last quarter. Finally, Morningstar Investment Management LLC purchased a new stake in Electronic Arts during the second quarter worth about $331,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Insiders Place Their Bets

In other news, insider Laura Miele sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $171.69, for a total value of $429,225.00. Following the completion of the transaction, the insider owned 55,592 shares of the company's stock, valued at $9,544,590.48. The trade was a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $171.05, for a total transaction of $855,250.00. Following the completion of the transaction, the chief executive officer directly owned 52,393 shares of the company's stock, valued at approximately $8,961,822.65. This represents a 8.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,500 shares of company stock valued at $7,025,155. 0.24% of the stock is currently owned by insiders.

Electronic Arts Stock Performance

Shares of EA opened at $200.20 on Wednesday. The company has a 50-day moving average of $178.74 and a two-hundred day moving average of $159.37. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. The stock has a market cap of $50.09 billion, a P/E ratio of 50.18, a PEG ratio of 3.04 and a beta of 0.77. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $203.75.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts's payout ratio is currently 19.05%.

Analysts Set New Price Targets

EA has been the topic of a number of research analyst reports. Wedbush reissued a "neutral" rating and set a $200.00 price objective on shares of Electronic Arts in a report on Monday, September 29th. Jefferies Financial Group downgraded shares of Electronic Arts from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $200.00 to $210.00 in a report on Tuesday, September 30th. DA Davidson lifted their target price on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Hsbc Global Res cut shares of Electronic Arts from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Finally, Roth Capital cut shares of Electronic Arts from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $185.00 to $210.00 in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Electronic Arts has a consensus rating of "Hold" and a consensus price target of $177.00.

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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