KLP Kapitalforvaltning AS Purchases 7,000 Shares of Electronic Arts Inc. $EA

Key Points

• KLP Kapitalforvaltning AS increased its stake in Electronic Arts by 7,000 shares (a 7.9% rise) in Q4 and now owns 95,533 shares valued at about $19.52 million.
• Company insiders have been net sellers, disposing of 27,600 shares worth $5.54 million over the past three months (including recent sales by Vijayanthimala Singh and Laura Miele), leaving insiders with just 0.24% ownership.
• Wall Street’s consensus is a “Hold” rating for EA with a $188.30 average price target (3 Buys, 19 Holds, 1 Sell), and recent notes from UBS and Citi reiterated neutral views.

KLP Kapitalforvaltning AS increased its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,533 shares of the game software company's stock after purchasing an additional 7,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Electronic Arts were worth $19,520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kapitalo Investimentos Ltda bought a new stake in Electronic Arts during the fourth quarter worth about $19,627,000. M&T Bank Corp lifted its position in Electronic Arts by 52.0% during the fourth quarter. M&T Bank Corp now owns 43,411 shares of the game software company's stock worth $8,870,000 after purchasing an additional 14,845 shares during the period. Salomon & Ludwin LLC lifted its position in Electronic Arts by 32.8% during the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company's stock worth $47,000 after purchasing an additional 57 shares during the period. Evergreen Capital Management LLC lifted its position in Electronic Arts by 13.8% during the fourth quarter. Evergreen Capital Management LLC now owns 4,001 shares of the game software company's stock worth $818,000 after purchasing an additional 484 shares during the period. Finally, Cannon Global Investment Management LLC bought a new stake in Electronic Arts during the fourth quarter worth about $225,000. Institutional investors own 90.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EA. UBS Group reissued a "neutral" rating on shares of Electronic Arts in a report on Wednesday, February 4th. Citigroup dropped their target price on shares of Electronic Arts from $207.00 to $202.00 and set a "neutral" rating for the company in a report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Electronic Arts currently has an average rating of "Hold" and a consensus target price of $188.30.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $203.25, for a total value of $243,900.00. Following the completion of the transaction, the insider owned 28,760 shares of the company's stock, valued at approximately $5,845,470. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $199.53, for a total transaction of $498,825.00. Following the completion of the transaction, the insider owned 48,343 shares of the company's stock, valued at approximately $9,645,878.79. This trade represents a 4.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,600 shares of company stock worth $5,544,159 over the last three months. 0.24% of the stock is owned by insiders.

Electronic Arts Stock Down 0.1%

EA stock opened at $202.51 on Friday. The stock has a market capitalization of $50.68 billion, a P/E ratio of 76.13, a price-to-earnings-growth ratio of 2.18 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 12 month low of $141.19 and a 12 month high of $204.88. The firm has a 50-day moving average price of $201.60 and a 200-day moving average price of $202.09.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts's dividend payout ratio is 28.57%.

Electronic Arts Company Profile

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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