North Growth Management Ltd. Buys 10,000 Shares of Electronic Arts Inc. (NASDAQ:EA)

North Growth Management Ltd. boosted its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 16.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,000 shares of the game software company's stock after purchasing an additional 10,000 shares during the period. Electronic Arts makes up approximately 2.2% of North Growth Management Ltd.'s holdings, making the stock its 20th largest position. North Growth Management Ltd.'s holdings in Electronic Arts were worth $10,442,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EA. Brighton Jones LLC boosted its stake in shares of Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock worth $500,000 after acquiring an additional 294 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Electronic Arts by 269.0% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the game software company's stock worth $117,000 after acquiring an additional 581 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Electronic Arts during the 4th quarter worth $107,000. Concurrent Investment Advisors LLC boosted its stake in shares of Electronic Arts by 5.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 1,701 shares of the game software company's stock worth $249,000 after acquiring an additional 90 shares during the last quarter. Finally, Waterfront Wealth Inc. boosted its stake in shares of Electronic Arts by 1.9% during the 4th quarter. Waterfront Wealth Inc. now owns 7,419 shares of the game software company's stock worth $1,085,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 90.23% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on Electronic Arts from $152.00 to $167.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group raised their price target on Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Robert W. Baird set a $168.00 price target on Electronic Arts in a report on Wednesday, May 7th. Citigroup reissued a "neutral" rating and set a $153.00 price target (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Finally, Benchmark raised their price target on Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $161.88.

Electronic Arts Stock Down 0.3%

Shares of NASDAQ:EA opened at $150.56 on Friday. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The business has a 50 day simple moving average of $148.19 and a two-hundred day simple moving average of $142.81. The firm has a market capitalization of $37.76 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 2.08 and a beta of 0.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, May 28th. Electronic Arts's dividend payout ratio is presently 17.92%.

Insider Activity

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $145.65, for a total transaction of $218,475.00. Following the completion of the sale, the executive vice president now owns 19,033 shares in the company, valued at $2,772,156.45. This represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total value of $145,000.00. Following the sale, the insider now owns 26,216 shares of the company's stock, valued at approximately $3,801,320. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,229 shares of company stock valued at $3,618,199. Corporate insiders own 0.22% of the company's stock.

Electronic Arts 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.

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