Exchange Traded Concepts LLC Has $6.06 Million Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Exchange Traded Concepts LLC decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,947 shares of the game software company's stock after selling 3,350 shares during the period. Exchange Traded Concepts LLC's holdings in Electronic Arts were worth $6,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Electronic Arts in the first quarter valued at approximately $28,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Electronic Arts by 45.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,397 shares of the game software company's stock worth $2,370,000 after purchasing an additional 5,130 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in Electronic Arts by 6.6% in the first quarter. NorthCrest Asset Manangement LLC now owns 35,741 shares of the game software company's stock valued at $5,165,000 after purchasing an additional 2,220 shares in the last quarter. Tobam increased its stake in Electronic Arts by 6,171.6% in the 1st quarter. Tobam now owns 24,773 shares of the game software company's stock valued at $3,580,000 after buying an additional 24,378 shares during the last quarter. Finally, Union Bancaire Privee UBP SA increased its stake in Electronic Arts by 17.6% in the 1st quarter. Union Bancaire Privee UBP SA now owns 1,600 shares of the game software company's stock valued at $231,000 after buying an additional 240 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total transaction of $145,000.00. Following the transaction, the insider now directly owns 26,216 shares of the company's stock, valued at $3,801,320. This represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $142.50, for a total transaction of $712,500.00. Following the completion of the sale, the chief executive officer now owns 32,615 shares of the company's stock, valued at $4,647,637.50. The trade was a 13.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,729 shares of company stock valued at $4,107,664 over the last quarter. Insiders own 0.22% of the company's stock.

Electronic Arts Trading Down 0.5%

NASDAQ EA traded down $0.71 on Tuesday, reaching $150.39. The company had a trading volume of 194,948 shares, compared to its average volume of 2,749,766. The firm has a market cap of $37.71 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 3.58 and a beta of 0.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The business has a 50 day moving average of $147.25 and a two-hundred day moving average of $142.92.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, May 28th. Electronic Arts's dividend payout ratio (DPR) is presently 17.92%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EA shares. Benchmark raised their price objective on Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price target on Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. TD Cowen boosted their price target on Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and set a $153.00 price objective (up previously from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Finally, Robert W. Baird set a $168.00 target price on shares of Electronic Arts in a research note on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Electronic Arts has a consensus rating of "Hold" and an average target price of $161.88.

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.