Pacer Advisors Inc. Has $161.67 Million Holdings in Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Pacer Advisors Inc. significantly increased its holdings in Electronic Arts Inc. by 1,366.6% during the first quarter, now owning approximately $161.67 million worth of shares.
• Several hedge funds have also increased their stakes in Electronic Arts, with Assenagon Asset Management S.A. raising its holdings by 689.3% in the same period.
• Wall Street analysts have raised their price targets for Electronic Arts, with Goldman Sachs setting a new target at $155.00, maintaining a "neutral" rating.

Pacer Advisors Inc. increased its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1,366.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,118,685 shares of the game software company's stock after purchasing an additional 1,042,407 shares during the period. Pacer Advisors Inc. owned approximately 0.43% of Electronic Arts worth $161,672,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in Electronic Arts by 689.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,238,496 shares of the game software company's stock worth $178,987,000 after acquiring an additional 1,081,589 shares during the period. FMR LLC grew its position in shares of Electronic Arts by 224.8% in the fourth quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock valued at $176,709,000 after purchasing an additional 835,985 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Electronic Arts by 130.0% in the fourth quarter. Royal Bank of Canada now owns 1,201,353 shares of the game software company's stock worth $175,758,000 after purchasing an additional 679,032 shares during the period. GAMMA Investing LLC lifted its position in shares of Electronic Arts by 11,587.9% during the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock worth $96,737,000 after purchasing an additional 663,640 shares during the last quarter. Finally, Norges Bank bought a new stake in Electronic Arts during the 4th quarter valued at approximately $96,698,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $148.32, for a total transaction of $222,480.00. Following the transaction, the executive vice president owned 28,448 shares of the company's stock, valued at $4,219,407.36. The trade was a 5.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $159.50, for a total value of $398,750.00. Following the completion of the sale, the insider directly owned 60,592 shares of the company's stock, valued at approximately $9,664,424. The trade was a 3.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,729 shares of company stock valued at $4,822,884 over the last 90 days. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EA shares. The Goldman Sachs Group boosted their price objective on Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley increased their price objective on shares of Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. Finally, TD Cowen upped their target price on shares of Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.71.

Electronic Arts Trading Down 0.7%

Shares of NASDAQ:EA opened at $152.64 on Friday. The firm has a market cap of $38.35 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 2.08 and a beta of 0.73. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company's fifty day simple moving average is $151.03 and its 200 day simple moving average is $142.83. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were issued a $0.19 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.50%. Electronic Arts's dividend payout ratio (DPR) is presently 17.92%.

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.

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.