Flputnam Investment Management Co. Reduces Position in Electronic Arts Inc. $EA

Key Points

• Flputnam Investment Management Co. reduced its position in Electronic Arts Inc. by 56.7%, holding only 2,237 shares worth $323,000 after selling 2,926 shares.
• Analysts generally maintain a "Moderate Buy" rating on Electronic Arts, with a consensus price target of $167.12, with some estimates reaching as high as $192.00.
• Insider sales have been notable, with CEO Andrew Wilson and insider Laura Miele selling thousands of shares recently, indicating possible shifts in confidence among company leadership.

Flputnam Investment Management Co. lessened its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 56.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,237 shares of the game software company's stock after selling 2,926 shares during the period. Flputnam Investment Management Co.'s holdings in Electronic Arts were worth $323,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Putney Financial Group LLC purchased a new position in shares of Electronic Arts during the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the first quarter valued at approximately $28,000. Bank of Jackson Hole Trust boosted its position in shares of Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after buying an additional 75 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Electronic Arts during the first quarter valued at approximately $39,000. Finally, American National Bank & Trust purchased a new position in shares of Electronic Arts during the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Wall Street Analyst Weigh In

EA has been the subject of several recent analyst reports. DA Davidson boosted their target price on Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Moffett Nathanson reaffirmed a "neutral" rating and set a $163.00 price target on shares of Electronic Arts in a research note on Wednesday, May 7th. Arete raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price target for the company in a research note on Tuesday, August 5th. Robert W. Baird lifted their price target on shares of Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley lifted their price target on shares of Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $167.12.

Electronic Arts Stock Performance

Shares of NASDAQ:EA opened at $167.86 on Thursday. The company has a market capitalization of $42.00 billion, a price-to-earnings ratio of 42.07, a price-to-earnings-growth ratio of 2.22 and a beta of 0.75. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $180.90. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $161.36 and a 200 day moving average of $149.82.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.5%. Electronic Arts's payout ratio is 19.05%.

Insider Buying and Selling at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the company'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 transaction, the insider directly owned 58,092 shares of the company's stock, valued at approximately $9,032,725.08. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total value of $855,250.00. Following the transaction, the chief executive officer directly owned 52,393 shares in the company, valued at approximately $8,961,822.65. The trade was a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,900 shares of company stock worth $4,778,597. 0.24% of the stock is currently owned by corporate insiders.

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.

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