Perpetual Ltd Purchases New Stake in Electronic Arts Inc. $EA

Key Points

• Perpetual Ltd has acquired a new stake in Electronic Arts Inc. (NASDAQ:EA), purchasing 2,383 shares valued at approximately $381,000 during the 2nd quarter.
• Major investors have increased their holdings in Electronic Arts, with Livforsakringsbolaget Skandia Omsesidigt raising its stake by 52% during the same period.
• Analysts have varied opinions on EA's stock, with an average target price of $167.40 and recent evaluations ranging from "neutral" to "buy" ratings.

Perpetual Ltd acquired a new stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,383 shares of the game software company's stock, valued at approximately $381,000.

Several other large investors also recently modified their holdings of EA. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Electronic Arts by 52.0% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 68,363 shares of the game software company's stock valued at $10,914,000 after acquiring an additional 23,400 shares during the period. Kozak & Associates Inc. boosted its stake in Electronic Arts by 9.2% in the 2nd quarter. Kozak & Associates Inc. now owns 1,507 shares of the game software company's stock valued at $230,000 after purchasing an additional 127 shares during the period. Weinberger Asset Management Inc bought a new stake in Electronic Arts in the 2nd quarter valued at $459,000. Wealth Enhancement Advisory Services LLC increased its position in Electronic Arts by 30.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,369 shares of the game software company's stock worth $3,320,000 after buying an additional 4,972 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its position in Electronic Arts by 0.5% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 92,900 shares of the game software company's stock worth $14,836,000 after buying an additional 500 shares during the period. 90.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on EA. Citigroup reiterated a "neutral" rating and set a $153.00 price objective (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Arete raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price on the stock in a report on Tuesday, August 5th. Wall Street Zen cut shares of Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Robert W. Baird raised their price objective on Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Wedbush restated an "outperform" rating and set a $210.00 price objective on shares of Electronic Arts in a research note on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, Electronic Arts currently has an average rating of "Moderate Buy" and an average price target of $167.40.

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,200 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $171.52, for a total value of $205,824.00. Following the sale, the insider owned 34,731 shares in the company, valued at $5,957,061.12. This represents a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the sale, the insider owned 58,092 shares in the company, valued at $9,032,725.08. This represents a 4.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,800 shares of company stock worth $4,214,010. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $173.09 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $180.90. The stock's 50 day moving average is $165.08 and its 200-day moving average is $153.39. The firm has a market capitalization of $43.31 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 2.63 and a beta of 0.75.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's dividend payout ratio is presently 19.05%.

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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