Electronic Arts Inc. $EA Shares Sold by Swedbank AB

Key Points

• Swedbank AB sharply reduced its stake in Electronic Arts by 65.8% in the first quarter, selling 804,746 shares and leaving it with 418,701 shares worth about $85.4 million.
• Analyst sentiment remains cautious, with Electronic Arts carrying a consensus “Hold” rating and a consensus price target of $196.64 after several recent rating changes.
• Insiders have also been selling shares, including recent Rule 10b5-1 trades by Laura Miele and Vijayanthimala Singh; over the last 90 days, insiders sold 39,906 shares valued at about $8.1 million.

Swedbank AB lessened its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 65.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 418,701 shares of the game software company's stock after selling 804,746 shares during the period. Swedbank AB owned 0.17% of Electronic Arts worth $85,361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Abel Hall LLC boosted its stake in Electronic Arts by 22.1% in the first quarter. Abel Hall LLC now owns 1,467 shares of the game software company's stock valued at $299,000 after acquiring an additional 266 shares during the period. DGS Capital Management LLC lifted its holdings in shares of Electronic Arts by 33.0% in the 1st quarter. DGS Capital Management LLC now owns 2,763 shares of the game software company's stock worth $563,000 after purchasing an additional 686 shares during the last quarter. Ascentis Independent Advisors bought a new stake in shares of Electronic Arts in the 1st quarter worth approximately $27,000. HB Wealth Management LLC boosted its position in Electronic Arts by 8.1% during the 1st quarter. HB Wealth Management LLC now owns 7,000 shares of the game software company's stock valued at $1,427,000 after purchasing an additional 525 shares during the period. Finally, New York State Teachers Retirement System boosted its position in Electronic Arts by 1.1% during the 1st quarter. New York State Teachers Retirement System now owns 179,042 shares of the game software company's stock valued at $36,501,000 after purchasing an additional 1,983 shares during the period. Institutional investors and hedge funds own 90.23% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the transaction, the insider owned 73,513 shares in the company, valued at $14,930,490.30. This trade represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the sale, the insider directly owned 26,360 shares in the company, valued at $5,351,080. This represents a 4.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 39,906 shares of company stock valued at $8,060,033. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Stock Up 0.1%

EA opened at $205.44 on Wednesday. Electronic Arts Inc. has a 12 month low of $146.97 and a 12 month high of $206.01. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $51.51 billion, a P/E ratio of 58.87, a P/E/G ratio of 2.30 and a beta of 0.64. The stock's 50 day moving average price is $202.56 and its 200 day moving average price is $202.48.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts's payout ratio is currently 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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