Skandinaviska Enskilda Banken AB publ Sells 71,648 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Skandinaviska Enskilda Banken AB has reduced its holdings in Electronic Arts Inc. by 44.6%, selling 71,648 shares during the first quarter, leaving it with 88,862 shares valued at approximately $12.84 million.
• Multiple institutional investors have increased their stakes in Electronic Arts, with GAMMA Investing LLC significantly increasing its ownership by 11,587.9%, acquiring an additional 663,640 shares.
• Recent analyst ratings show a consensus of a Moderate Buy with an average price target of $162.71, indicating bullish expectations for the stock's performance.

Skandinaviska Enskilda Banken AB publ decreased its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 44.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,862 shares of the game software company's stock after selling 71,648 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Electronic Arts were worth $12,843,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of EA. Pacer Advisors Inc. lifted its position in shares of Electronic Arts by 1,366.6% during the first quarter. Pacer Advisors Inc. now owns 1,118,685 shares of the game software company's stock worth $161,672,000 after acquiring an additional 1,042,407 shares in the last quarter. Assetmark Inc. lifted its position in shares of Electronic Arts by 28.9% during the first quarter. Assetmark Inc. now owns 20,459 shares of the game software company's stock worth $2,957,000 after acquiring an additional 4,584 shares in the last quarter. John G Ullman & Associates Inc. lifted its position in shares of Electronic Arts by 8.3% during the first quarter. John G Ullman & Associates Inc. now owns 24,250 shares of the game software company's stock worth $3,505,000 after acquiring an additional 1,850 shares in the last quarter. Jackson Hole Capital Partners LLC lifted its position in shares of Electronic Arts by 5.3% during the first quarter. Jackson Hole Capital Partners LLC now owns 8,758 shares of the game software company's stock worth $1,266,000 after acquiring an additional 441 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Electronic Arts by 44.8% during the first quarter. AE Wealth Management LLC now owns 8,181 shares of the game software company's stock worth $1,182,000 after acquiring an additional 2,533 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wedbush restated an "outperform" rating and set a $210.00 target price on shares of Electronic Arts in a research report on Tuesday, July 22nd. Moffett Nathanson restated a "neutral" rating and set a $163.00 target price on shares of Electronic Arts in a research report on Wednesday, May 7th. 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 research report on Tuesday, June 24th. Benchmark increased their price objective on Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. increased their price objective on Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Electronic Arts currently has a consensus rating of "Hold" and a consensus price target of $164.44.

Insider Activity

In related news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.50, for a total transaction of $398,750.00. Following the transaction, the insider owned 60,592 shares in the company, valued at approximately $9,664,424. The trade was a 3.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $159,530.00. Following the transaction, the insider owned 37,131 shares in the company, valued at approximately $5,923,508.43. This trade represents a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,729 shares of company stock worth $4,822,884 in the last quarter. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Stock Performance

Shares of EA stock traded up $9.54 during mid-day trading on Wednesday, reaching $157.33. 2,053,197 shares of the company's stock traded hands, compared to its average volume of 3,485,281. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The firm has a 50 day moving average price of $150.98 and a two-hundred day moving average price of $142.97. 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 firm has a market capitalization of $39.53 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 2.06 and a beta of 0.73.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.48%. Electronic Arts's dividend payout ratio (DPR) is 17.92%.

Electronic Arts 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.