Envestnet Asset Management Inc. Sells 576,927 Shares of Electronic Arts Inc. (NASDAQ:EA)

Envestnet Asset Management Inc. trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 71.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 233,842 shares of the game software company's stock after selling 576,927 shares during the period. Envestnet Asset Management Inc. owned 0.09% of Electronic Arts worth $33,795,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Financial Management Professionals Inc. raised its holdings in shares of Electronic Arts by 15.0% during the first quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock worth $81,000 after purchasing an additional 73 shares during the period. Whipplewood Advisors LLC increased its holdings in shares of Electronic Arts by 34.2% in the 1st quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock worth $43,000 after acquiring an additional 76 shares during the period. Clarius Group LLC increased its holdings in shares of Electronic Arts by 3.6% in the 1st quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock worth $319,000 after acquiring an additional 77 shares during the period. Intrust Bank NA increased its holdings in shares of Electronic Arts by 3.3% in the 4th quarter. Intrust Bank NA now owns 2,475 shares of the game software company's stock worth $362,000 after acquiring an additional 78 shares during the period. Finally, Conning Inc. increased its holdings in shares of Electronic Arts by 4.7% in the 1st quarter. Conning Inc. now owns 1,749 shares of the game software company's stock worth $253,000 after acquiring an additional 78 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

Shares of Electronic Arts stock traded up $0.48 on Thursday, reaching $149.83. The stock had a trading volume of 1,828,403 shares, compared to its average volume of 2,813,279. The business's 50-day moving average price is $150.66 and its two-hundred day moving average price is $142.58. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The stock has a market cap of $37.65 billion, a P/E ratio of 35.34, a price-to-earnings-growth ratio of 2.03 and a beta of 0.73.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were paid a $0.19 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. Electronic Arts's payout ratio is 17.92%.

Insider Activity

In other news, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total value of $222,480.00. Following the sale, the executive vice president owned 28,448 shares in the company, valued at approximately $4,219,407.36. The trade was a 5.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer owned 62,393 shares in the company, valued at $9,398,881.52. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,729 shares of company stock valued at $4,788,684. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a research report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and issued a $153.00 target price (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. JPMorgan Chase & Co. increased their target price on shares of Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. 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. Finally, The Goldman Sachs Group increased their target price on shares of Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Fourteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $162.71.

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.