MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 32,907 Shares of Electronic Arts Inc. $EA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Electronic Arts Inc. by 12.0%, acquiring an additional 32,907 shares, bringing its total ownership to 306,560 shares valued at $44.3 million.
• Various institutional investors have also adjusted their positions, with significant increases from firms like AQR Capital Management, which boosted its stake by 79.5%, now owning over 1.4 million shares.
• Wall Street analysts have shown bullish sentiments towards Electronic Arts, with several upgrades on the stock's rating and price targets reaching up to $192.00, indicating a strong market outlook.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306,560 shares of the game software company's stock after acquiring an additional 32,907 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.12% of Electronic Arts worth $44,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. bought a new position in Electronic Arts in the first quarter valued at $11,273,000. Hancock Whitney Corp lifted its stake in Electronic Arts by 21.8% in the first quarter. Hancock Whitney Corp now owns 11,369 shares of the game software company's stock worth $1,643,000 after purchasing an additional 2,037 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in Electronic Arts by 10.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the game software company's stock worth $369,000 after purchasing an additional 250 shares during the last quarter. Concentric Capital Strategies LP purchased a new stake in shares of Electronic Arts during the first quarter valued at approximately $315,000. Finally, AQR Capital Management LLC boosted its stake in shares of Electronic Arts by 79.5% during the first quarter. AQR Capital Management LLC now owns 1,419,345 shares of the game software company's stock valued at $204,513,000 after purchasing an additional 628,822 shares during the period. Institutional investors own 90.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EA shares. Robert W. Baird raised their price target on shares of Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Roth Capital raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and raised their price target for the stock from $175.00 to $185.00 in a report on Tuesday, June 24th. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price objective for the company in a report on Tuesday, August 5th. Wells Fargo & Company set a $168.00 price objective on Electronic Arts and gave the stock an "equal weight" rating in a report on Monday, July 28th. Finally, Bank of America boosted their target price on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Electronic Arts currently has an average rating of "Moderate Buy" and an average target price of $167.12.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $168.62 on Friday. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $180.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day moving average price of $161.78 and a 200-day moving average price of $150.51. The company has a market capitalization of $42.19 billion, a PE ratio of 42.26, a PEG ratio of 2.18 and a beta of 0.75.

Electronic Arts Dividend Announcement

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

Insiders Place Their Bets

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 $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 available through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were 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. In the last ninety days, insiders sold 29,900 shares of company stock valued at $4,778,597. Company insiders own 0.24% of the company's stock.

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.

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