Erste Asset Management GmbH Sells 95,000 Shares of Electronic Arts Inc. $EA

Key Points

• Erste Asset Management GmbH has reduced its holdings in Electronic Arts Inc. by 53.5%, selling 95,000 shares and now owning 82,568 shares valued at approximately $11.99 million.
• The company has announced a quarterly dividend of $0.19 per share, with a scheduled payment date of September 17th, representing a 0.4% annualized yield.
• Several investment firms have adjusted their ratings on Electronic Arts, with Roth Capital upgrading it to a "buy" and raising the price target from $175.00 to $185.00.

Erste Asset Management GmbH lowered its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 53.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,568 shares of the game software company's stock after selling 95,000 shares during the period. Erste Asset Management GmbH's holdings in Electronic Arts were worth $11,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in EA. Brighton Jones LLC increased its stake in shares of Electronic Arts by 9.4% during the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock worth $500,000 after purchasing an additional 294 shares during the period. NewEdge Advisors LLC increased its stake in shares of Electronic Arts by 3.7% during the fourth quarter. NewEdge Advisors LLC now owns 10,125 shares of the game software company's stock worth $1,481,000 after purchasing an additional 365 shares during the period. Stifel Financial Corp increased its stake in shares of Electronic Arts by 2.5% during the fourth quarter. Stifel Financial Corp now owns 172,667 shares of the game software company's stock worth $25,270,000 after purchasing an additional 4,154 shares during the period. Dark Forest Capital Management LP increased its stake in shares of Electronic Arts by 145.9% during the fourth quarter. Dark Forest Capital Management LP now owns 4,266 shares of the game software company's stock worth $624,000 after purchasing an additional 2,531 shares during the period. Finally, Pinebridge Investments L.P. increased its stake in Electronic Arts by 37.0% during the 4th quarter. Pinebridge Investments L.P. now owns 102,672 shares of the game software company's stock worth $15,021,000 after acquiring an additional 27,749 shares during the period. Institutional investors own 90.23% of the company's stock.

Electronic Arts Trading Up 0.4%

Shares of EA stock opened at $171.33 on Thursday. The stock's fifty day moving average price is $157.52 and its two-hundred day moving average price is $146.90. The company has a market cap of $42.87 billion, a PE ratio of 42.94, a P/E/G ratio of 2.20 and a beta of 0.72. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $180.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts's dividend payout ratio (DPR) is 19.05%.

Insider Transactions at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $155.49, for a total transaction of $388,725.00. Following the sale, the insider owned 58,092 shares of the company's stock, valued at $9,032,725.08. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the sale, the insider directly 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. In the last 90 days, insiders sold 20,200 shares of company stock worth $3,116,350. Insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EA. Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $175.00 to $185.00 in a research note on Tuesday, June 24th. Wedbush restated an "outperform" rating and set a $210.00 price objective on shares of Electronic Arts in a research note on Tuesday, July 22nd. Wall Street Zen lowered Electronic Arts from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley raised their price objective on Electronic Arts from $135.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Arete Research set a $192.00 price objective on Electronic Arts in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $167.12.

About Electronic Arts

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.

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