Teza Capital Management LLC Sells 9,870 Shares of Electronic Arts Inc. $EA

Key Points

• Teza Capital Management LLC reduced its investment in Electronic Arts by 70.9%, selling nearly 10,000 shares during Q1 2023, leaving it with about 4,059 shares valued at approximately $587,000.
• In addition to Teza, several institutional investors increased their positions in Electronic Arts, with Focus Partners Wealth reporting a substantial 121.9% increase in their stake.
• Electronic Arts recently announced a quarterly dividend of $0.19 per share, translating to an annualized dividend of $0.76 with a yield of 0.5%.

Teza Capital Management LLC trimmed its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 70.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,059 shares of the game software company's stock after selling 9,870 shares during the period. Teza Capital Management LLC's holdings in Electronic Arts were worth $587,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new position in Electronic Arts during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in Electronic Arts during the first quarter valued at approximately $28,000. Bank of Jackson Hole Trust grew its position in Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Electronic Arts during the first quarter valued at approximately $39,000. Finally, American National Bank & Trust purchased a new position in Electronic Arts during the first quarter valued at approximately $40,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

EA traded down $0.38 during midday trading on Thursday, reaching $169.89. The company's stock had a trading volume of 2,410,758 shares, compared to its average volume of 3,408,416. The stock has a market cap of $42.51 billion, a P/E ratio of 42.58, a PEG ratio of 2.14 and a beta of 0.75. The company has a fifty day simple moving average of $162.35 and a 200 day simple moving average of $151.15. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $180.90.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, August 27th. Electronic Arts's dividend payout ratio (DPR) is currently 19.05%.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $172.26, for a total value of $206,712.00. Following the completion of the sale, the insider owned 35,931 shares in the company, valued at approximately $6,189,474.06. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jacob J. Schatz sold 1,200 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $174.65, for a total transaction of $209,580.00. Following the completion of the sale, the executive vice president owned 27,248 shares of the company's stock, valued at approximately $4,758,863.20. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,900 shares of company stock worth $4,778,597. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Arete raised Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price target for the company in a research note on Tuesday, August 5th. Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and boosted their price target for the company from $175.00 to $185.00 in a research note on Tuesday, June 24th. Arete Research set a $192.00 price target on Electronic Arts in a research note on Tuesday, August 5th. Wells Fargo & Company set a $168.00 price target on Electronic Arts and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Finally, Argus set a $170.00 price target on Electronic Arts in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $167.12.

Electronic Arts 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.