Atria Wealth Solutions Inc. Sells 4,016 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Atria Wealth Solutions Inc. significantly reduced its stake in Electronic Arts by 67.5% during the first quarter, owning just 1,938 shares valued at $280,000 at the end of the quarter.
• Several other institutional investors, including Bank of Jackson Hole Trust, have also adjusted their positions, with institutional ownership of Electronic Arts now at 90.23%.
• Brokerages are bullish on Electronic Arts, with multiple firms increasing their price targets, leading to an average rating of "Moderate Buy" and a consensus target price of $167.12.

Atria Wealth Solutions Inc. decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 67.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,938 shares of the game software company's stock after selling 4,016 shares during the period. Atria Wealth Solutions Inc.'s holdings in Electronic Arts were worth $280,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital International Investors grew its position in Electronic Arts by 5.2% in the fourth quarter. Capital International Investors now owns 12,156,791 shares of the game software company's stock valued at $1,778,553,000 after purchasing an additional 605,796 shares in the last quarter. Northern Trust Corp lifted its stake in Electronic Arts by 12.4% in the fourth quarter. Northern Trust Corp now owns 3,257,281 shares of the game software company's stock valued at $476,540,000 after acquiring an additional 360,563 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Electronic Arts by 5.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,663,957 shares of the game software company's stock valued at $389,737,000 after acquiring an additional 132,703 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Electronic Arts by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,095,337 shares of the game software company's stock valued at $306,556,000 after acquiring an additional 107,815 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Electronic Arts by 689.3% in the first quarter. Assenagon Asset Management S.A. now owns 1,238,496 shares of the game software company's stock valued at $178,987,000 after acquiring an additional 1,081,589 shares during the last quarter. Institutional investors own 90.23% of the company's stock.

Insider Transactions at Electronic Arts

In other news, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total transaction of $151,320.00. Following the sale, the chief financial officer owned 14,533 shares of the company's stock, valued at $2,199,133.56. This trade represents a 6.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $148.69, for a total transaction of $223,035.00. Following the transaction, the executive vice president directly owned 29,948 shares of the company's stock, valued at $4,452,968.12. The trade was a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,229 shares of company stock worth $4,452,664 over the last quarter. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Trading Down 2.4%

Shares of Electronic Arts stock traded down $4.34 on Friday, hitting $174.67. The stock had a trading volume of 3,428,521 shares, compared to its average volume of 3,456,104. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $180.90. The stock has a market cap of $43.70 billion, a price-to-earnings ratio of 43.78, a PEG ratio of 2.25 and a beta of 0.72. The stock's 50-day simple moving average is $156.13 and its two-hundred day simple moving average is $146.24.

Electronic Arts Announces Dividend

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

Analysts Set New Price Targets

EA has been the subject of a number of research reports. Wall Street Zen cut shares of Electronic Arts from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Benchmark lifted their price objective on shares of Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Arete Research set a $192.00 price objective on shares of Electronic Arts in a research note on Tuesday, August 5th. HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a research note on Wednesday, May 7th. Finally, Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $175.00 to $185.00 in a research note on Tuesday, June 24th. Sixteen analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Electronic Arts currently has an average rating of "Moderate Buy" and an average target price of $167.12.

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.