Electronic Arts Inc. (NASDAQ:EA) Shares Bought by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management Inc. significantly increased its stake in Electronic Arts Inc. by 283.6% in the first quarter, owning 2,869 shares valued at $415,000.
• Institutional investors collectively own 90.23% of Electronic Arts' stock, with notable increases from firms like Assenagon Asset Management and Pacer Advisors.
• Equities analysts have raised target prices for Electronic Arts, with Morgan Stanley setting a price of $148.00 and Oppenheimer raising their target to $185.00.

Meeder Asset Management Inc. grew its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 283.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,869 shares of the game software company's stock after buying an additional 2,121 shares during the period. Meeder Asset Management Inc.'s holdings in Electronic Arts were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Putney Financial Group LLC purchased a new position in shares of Electronic Arts during the 4th quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the 1st quarter worth about $28,000. LGT Financial Advisors LLC purchased a new position in shares of Electronic Arts during the 4th quarter worth about $33,000. Wayfinding Financial LLC purchased a new position in shares of Electronic Arts during the 1st quarter worth about $39,000. Finally, American National Bank & Trust purchased a new position in shares of Electronic Arts during the 1st quarter worth about $40,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EA has been the subject of a number of research analyst reports. Benchmark lifted their price objective on shares of Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a 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 report on Thursday, May 29th. HSBC upgraded shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Bank of America lifted their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $164.21.

Electronic Arts Stock Performance

Shares of NASDAQ:EA traded up $4.59 during midday trading on Friday, reaching $157.08. The company's stock had a trading volume of 4,396,980 shares, compared to its average volume of 2,517,279. The firm has a market capitalization of $39.47 billion, a PE ratio of 39.37, a P/E/G ratio of 1.98 and a beta of 0.72. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The stock has a fifty day moving average of $151.22 and a 200 day moving average of $143.14. The company has a quick ratio of 0.95, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Dividend Announcement

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

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $152.21, for a total value of $761,050.00. Following the sale, the chief executive officer owned 57,393 shares in the company, valued at $8,735,788.53. This represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the insider owned 60,592 shares in the company, valued at $9,664,424. The trade was a 3.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,729 shares of company stock valued at $4,677,324. 0.24% of the stock is owned by corporate insiders.

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.