Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 59.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,587 shares of the game software company's stock after selling 3,734 shares during the quarter. Perigon Wealth Management LLC's holdings in Electronic Arts were worth $374,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of EA. Putney Financial Group LLC purchased a new stake in Electronic Arts in the 4th quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Electronic Arts during the first quarter valued at approximately $28,000. LGT Financial Advisors LLC purchased a new stake in shares of Electronic Arts in the fourth quarter worth approximately $33,000. Millstone Evans Group LLC bought a new stake in shares of Electronic Arts during the 4th quarter worth approximately $37,000. Finally, American National Bank & Trust bought a new stake in shares of Electronic Arts during the 1st quarter worth approximately $40,000. Institutional investors own 90.23% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on EA. Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Argus set a $170.00 target price on shares of Electronic Arts in a research note on Friday, May 16th. JPMorgan Chase & Co. upped their price target on shares of Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. 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 report on Wednesday, May 7th. Finally, Moffett Nathanson restated a "neutral" rating and issued a $163.00 target price on shares of Electronic Arts in a research note on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Electronic Arts presently has an average rating of "Moderate Buy" and a consensus price target of $162.80.

Insiders Place Their Bets

In other news, insider Laura Miele sold 2,500 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $155.57, for a total transaction of $388,925.00. Following the sale, the insider owned 40,189 shares in the company, valued at approximately $6,252,202.73. The trade was a 5.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $150.64, for a total transaction of $753,200.00. Following the transaction, the chief executive officer owned 62,393 shares in the company, valued at $9,398,881.52. The trade was a 7.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,229 shares of company stock worth $4,226,399. Insiders own 0.24% of the company's stock.

Electronic Arts Stock Down 0.9%

EA stock traded down $1.41 during trading on Wednesday, reaching $157.65. 432,576 shares of the company traded hands, compared to its average volume of 2,797,215. The business has a 50 day simple moving average of $150.02 and a 200 day simple moving average of $142.34. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. 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 company has a market capitalization of $39.61 billion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 2.17 and a beta of 0.73.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Wednesday, May 28th. Electronic Arts's dividend payout ratio is currently 17.92%.

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.