Electronic Arts Inc. (NASDAQ:EA) Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 31.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,533 shares of the game software company's stock after selling 40,400 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Electronic Arts were worth $12,506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Putney Financial Group LLC purchased a new stake in Electronic Arts in the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts in the first quarter worth approximately $28,000. LGT Financial Advisors LLC purchased a new stake in Electronic Arts in the fourth quarter worth approximately $33,000. Wayfinding Financial LLC purchased a new stake in Electronic Arts in the first quarter worth approximately $39,000. Finally, American National Bank & Trust purchased a new stake in Electronic Arts in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 6,563 shares of Electronic Arts stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $151.18, for a total value of $992,194.34. Following the sale, the chief executive officer owned 70,059 shares in the company, valued at $10,591,519.62. The trade was a 8.57% 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, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the sale, the insider owned 37,131 shares in the company, valued at $5,923,508.43. This represents a 2.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,729 shares of company stock worth $4,822,884. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EA shares. JPMorgan Chase & Co. raised their price target on Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group raised their price target on Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Citigroup reaffirmed a "neutral" rating and issued a $153.00 price target (up previously from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. Finally, Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $175.00 to $185.00 in a report on Tuesday, June 24th. Fourteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Electronic Arts presently has an average rating of "Moderate Buy" and a consensus price target of $162.71.

Electronic Arts Price Performance

Shares of NASDAQ:EA traded down $0.96 during trading on Friday, reaching $151.68. The stock had a trading volume of 1,450,551 shares, compared to its average volume of 2,278,458. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. The business has a fifty day moving average price of $151.04 and a 200-day moving average price of $142.87. The stock has a market cap of $38.11 billion, a PE ratio of 35.77, a PEG ratio of 2.06 and a beta of 0.73. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts Announces Dividend

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

About Electronic Arts

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.