Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 40.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,779 shares of the game software company's stock after selling 9,268 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Electronic Arts were worth $1,991,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Putney Financial Group LLC acquired a new stake in shares of Electronic Arts in the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Electronic Arts in the first quarter valued at $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Electronic Arts during the 4th quarter worth $32,000. LGT Financial Advisors LLC acquired a new position in shares of Electronic Arts during the 4th quarter worth $33,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Electronic Arts during the 4th quarter worth $37,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

Shares of NASDAQ:EA opened at $150.56 on Monday. The business has a 50-day moving average of $148.19 and a two-hundred day moving average of $142.48. The firm has a market capitalization of $37.76 billion, a PE ratio of 35.51, a P/E/G ratio of 2.07 and a beta of 0.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50.

Electronic Arts Announces Dividend

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

Insider Buying and Selling

In related news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $148.69, for a total value of $223,035.00. Following the completion of the sale, the executive vice president now directly owns 29,948 shares in the company, valued at approximately $4,452,968.12. This represents a 4.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 2,666 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $150.93, for a total value of $402,379.38. Following the completion of the sale, the chief executive officer now directly owns 67,393 shares of the company's stock, valued at $10,171,625.49. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,229 shares of company stock valued at $3,618,199. 0.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EA has been the topic of several recent analyst reports. Oppenheimer upped their target price on shares of Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Moffett Nathanson reaffirmed a "neutral" rating and issued a $163.00 price objective on shares of Electronic Arts in a research note on Wednesday, May 7th. Morgan Stanley boosted their target price on Electronic Arts from $135.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. TD Cowen raised their price target on Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $161.88.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.