Pallas Capital Advisors LLC grew its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 95.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,301 shares of the game software company's stock after buying an additional 2,096 shares during the quarter. Pallas Capital Advisors LLC's holdings in Electronic Arts were worth $622,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Putney Financial Group LLC bought a new position in shares of Electronic Arts during the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Electronic Arts during the 4th quarter valued at $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Electronic Arts in the 4th quarter worth $33,000. Millstone Evans Group LLC acquired a new stake in shares of Electronic Arts in the 4th quarter worth $37,000. Finally, American National Bank & Trust purchased a new position in Electronic Arts during the 1st quarter worth $40,000. Institutional investors own 90.23% of the company's stock.
Insider Transactions at Electronic Arts
In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $142.50, for a total value of $712,500.00. Following the transaction, the chief executive officer now owns 32,615 shares of the company's stock, valued at $4,647,637.50. This represents a 13.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total transaction of $145,000.00. Following the completion of the sale, the insider now owns 26,216 shares of the company's stock, valued at $3,801,320. This trade represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,729 shares of company stock worth $4,107,664 in the last ninety days. Insiders own 0.22% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Roth Capital reissued a "neutral" rating on shares of Electronic Arts in a report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and issued a $153.00 target price (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Hsbc Global Res upgraded Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a report on Wednesday, May 7th. Finally, Oppenheimer lifted their price objective on shares of Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Electronic Arts presently has an average rating of "Hold" and an average target price of $161.88.
View Our Latest Stock Analysis on EA
Electronic Arts Price Performance
Shares of NASDAQ EA traded down $1.41 during mid-day trading on Friday, reaching $148.64. The company's stock had a trading volume of 705,951 shares, compared to its average volume of 2,748,272. The stock has a market capitalization of $37.27 billion, a P/E ratio of 37.92, a P/E/G ratio of 3.58 and a beta of 0.71. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The stock has a 50-day moving average of $146.56 and a two-hundred day moving average of $143.40. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38.
Electronic Arts Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, May 28th. Electronic Arts's dividend payout ratio is currently 17.92%.
Electronic Arts Profile
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Free Report)
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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