Envestnet Portfolio Solutions Inc. Sells 9,956 Shares of Electronic Arts Inc. $EA

Key Points

• Envestnet Portfolio Solutions Inc. significantly reduced its holdings in Electronic Arts Inc., selling 9,956 shares and decreasing its stake by 72.3%, leaving it with 3,823 shares valued at $611,000.
• Major institutional investors like Goldman Sachs and Vanguard Group have increased their stakes, indicating strong institutional interest, with Goldman Sachs boosting its holdings by 62.7% in a recent quarter.
• Equities analysts are mixed on EA, with a recent downgrade by HSBC and various price target increases, resulting in an average analyst rating of "Hold" with a target price of $179.38.

Envestnet Portfolio Solutions Inc. decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 72.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,823 shares of the game software company's stock after selling 9,956 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Electronic Arts were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of EA. Vanguard Group Inc. increased its stake in Electronic Arts by 0.5% in the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock valued at $4,198,607,000 after purchasing an additional 150,438 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Electronic Arts by 4.6% in the 2nd quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company's stock valued at $695,645,000 after buying an additional 193,442 shares during the period. Independent Franchise Partners LLP increased its position in Electronic Arts by 2.3% in the 1st quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company's stock valued at $570,233,000 after buying an additional 88,767 shares in the last quarter. Invesco Ltd. raised its stake in Electronic Arts by 15.6% during the 1st quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company's stock worth $539,563,000 after buying an additional 504,760 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Electronic Arts by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock worth $470,197,000 after acquiring an additional 1,254,194 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EA shares. Hsbc Global Res downgraded Electronic Arts from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Bank of America lifted their price target on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. BMO Capital Markets boosted their price target on shares of Electronic Arts from $166.00 to $210.00 and gave the company a "market perform" rating in a research note on Tuesday, September 30th. DA Davidson raised their price objective on shares of Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Arete Research set a $192.00 target price on shares of Electronic Arts in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $179.38.

Electronic Arts Price Performance

EA opened at $200.59 on Tuesday. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $203.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $50.19 billion, a price-to-earnings ratio of 50.27, a P/E/G ratio of 3.04 and a beta of 0.77. The firm's fifty day moving average price is $181.39 and its two-hundred day moving average price is $161.09.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts's dividend payout ratio is presently 19.05%.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $172.79, for a total value of $863,950.00. Following the completion of the transaction, the chief executive officer directly owned 47,393 shares of the company's stock, valued at $8,189,036.47. This represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stuart Canfield sold 6,500 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the sale, the chief financial officer directly owned 5,140 shares of the company's stock, valued at $1,045,476. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,900 shares of company stock worth $6,745,437 in the last ninety days. 0.24% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA - Free Report).

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.