Massachusetts Financial Services Co. MA Sells 2,157,328 Shares of Electronic Arts Inc. (NASDAQ:EA)

Massachusetts Financial Services Co. MA lowered its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 48.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,273,081 shares of the game software company's stock after selling 2,157,328 shares during the period. Massachusetts Financial Services Co. MA owned about 0.87% of Electronic Arts worth $328,506,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in EA. Brighton Jones LLC grew its holdings in shares of Electronic Arts by 9.4% in 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 last quarter. Sequoia Financial Advisors LLC raised its position in Electronic Arts by 13.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 6,890 shares of the game software company's stock worth $1,008,000 after buying an additional 843 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Electronic Arts by 1,901.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,771 shares of the game software company's stock valued at $4,941,000 after purchasing an additional 32,084 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Electronic Arts by 8.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 2,867 shares of the game software company's stock valued at $419,000 after purchasing an additional 212 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Electronic Arts by 6.2% during the 4th quarter. Natixis Advisors LLC now owns 279,554 shares of the game software company's stock valued at $40,898,000 after purchasing an additional 16,256 shares during the last quarter. Institutional investors own 90.23% of the company's stock.

Insider Buying and Selling

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $159.50, for a total transaction of $398,750.00. Following the completion of the transaction, the insider directly owned 60,592 shares of the company's stock, valued at approximately $9,664,424. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.64, for a total value of $224,460.00. Following the completion of the sale, the executive vice president owned 17,533 shares in the company, valued at $2,623,638.12. This trade represents a 7.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,229 shares of company stock valued at $4,566,204 over the last quarter. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EA. Morgan Stanley increased their target price 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. Argus set a $170.00 price target on Electronic Arts in a report on Friday, May 16th. Oppenheimer lifted their price target on Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lifted 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. Finally, Hsbc Global Res upgraded Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $162.71.

Electronic Arts Stock Performance

NASDAQ:EA traded down $0.09 during mid-day trading on Tuesday, hitting $148.74. 2,075,943 shares of the stock were exchanged, compared to its average volume of 2,816,305. The stock has a market capitalization of $37.37 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 2.02 and a beta of 0.73. The firm's 50-day simple moving average is $151.14 and its 200 day simple moving average is $142.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50.

Electronic Arts Dividend Announcement

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

Electronic Arts Company 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.