Janus Henderson Group PLC Reduces Stake in Electronic Arts Inc. $EA

Key Points

• Janus Henderson Group cut its Electronic Arts stake by 45.4% in the first quarter, selling 92,500 shares and retaining 111,274 shares valued at approximately $22.7 million.
• Electronic Arts shares opened at $209.91, near their 52-week high, while the stock carries a high P/E ratio of 60.15. Institutional investors own approximately 90.23% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $201.42; insiders also sold 31,206 shares worth about $6.3 million over the past three months.

Janus Henderson Group PLC lessened its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 45.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,274 shares of the game software company's stock after selling 92,500 shares during the quarter. Janus Henderson Group PLC's holdings in Electronic Arts were worth $22,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Ascentis Independent Advisors purchased a new position in shares of Electronic Arts during the first quarter worth $27,000. MV Capital Management Inc. acquired a new position in Electronic Arts during the fourth quarter valued at $28,000. Asset Planning Inc purchased a new stake in Electronic Arts in the first quarter valued at $32,000. Whipplewood Advisors LLC purchased a new stake in Electronic Arts in the first quarter valued at $32,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in Electronic Arts during the 4th quarter worth about $44,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Trading Up 0.0%

Shares of Electronic Arts stock opened at $209.91 on Tuesday. The firm has a 50-day simple moving average of $205.21 and a two-hundred day simple moving average of $203.01. The company has a market cap of $52.98 billion, a P/E ratio of 60.15, a price-to-earnings-growth ratio of 2.35 and a beta of 0.64. Electronic Arts Inc. has a fifty-two week low of $156.37 and a fifty-two week high of $209.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EA. Wall Street Zen upgraded Electronic Arts to a "hold" rating in a research note on Saturday, June 6th. Argus lowered Electronic Arts from a "buy" rating to a "hold" rating in a report on Thursday, May 28th. Weiss Ratings upgraded Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Citigroup boosted their price target on Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, Zacks Research lowered Electronic Arts from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $201.42.

Insider Activity

In other news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the completion of the transaction, the chief executive officer directly owned 80,974 shares of the company's stock, valued at $16,447,438.88. This represents a 5.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the transaction, the insider owned 26,360 shares in the company, valued at $5,351,080. This trade represents a 4.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 31,206 shares of company stock worth $6,292,058. 0.24% of the stock is currently owned by corporate insiders.

About Electronic Arts

Electronic Arts Inc NASDAQ: EA is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA's product lineup spans several well-known franchises and genres.

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