Rathbones Group PLC Acquires 25,451 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Rathbones Group PLC increased its stake in Electronic Arts Inc. by 12.3%, owning 231,682 shares valued at approximately $33.48 million as of the latest SEC filing.
• Insider trades have seen the CFO and CEO of Electronic Arts sell significant shares, with the CFO selling 1,000 shares and the CEO selling 5,000 shares, resulting in a notable decrease in their ownership percentages.
• Multiple research firms have set new price targets for Electronic Arts, with Morgan Stanley raising its target to $148 and Arete setting a target of $192, reflecting positive sentiment towards the stock.

Rathbones Group PLC boosted its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 12.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 231,682 shares of the game software company's stock after purchasing an additional 25,451 shares during the quarter. Rathbones Group PLC owned about 0.09% of Electronic Arts worth $33,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Putney Financial Group LLC bought a new stake in Electronic Arts during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Electronic Arts during the 1st quarter worth approximately $28,000. Bank of Jackson Hole Trust increased its stake in Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after purchasing an additional 75 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in Electronic Arts during the 4th quarter worth approximately $33,000. Finally, Wayfinding Financial LLC bought a new stake in Electronic Arts during the 1st quarter worth approximately $39,000. 90.23% of the stock is owned by institutional investors.

Electronic Arts Price Performance

Shares of NASDAQ EA traded down $4.34 during mid-day trading on Friday, reaching $174.67. The company had a trading volume of 3,428,521 shares, compared to its average volume of 3,477,202. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $180.90. The firm has a market cap of $43.70 billion, a price-to-earnings ratio of 43.78, a PEG ratio of 2.31 and a beta of 0.72. The business's 50-day simple moving average is $156.13 and its 200 day simple moving average is $145.84.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's dividend payout ratio (DPR) is 19.05%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EA. DA Davidson upped their price target on Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Moffett Nathanson reaffirmed a "neutral" rating and set a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, May 7th. Arete raised Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price target for the company in a research report on Tuesday, August 5th. TD Cowen upped their price target on Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group increased their price objective on Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $167.12.

Insiders Place Their Bets

In other news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $148.32, for a total transaction of $222,480.00. Following the sale, the executive vice president directly owned 28,448 shares of the company's stock, valued at approximately $4,219,407.36. This trade represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total value of $151,320.00. Following the sale, the chief financial officer directly owned 14,533 shares in the company, valued at $2,199,133.56. The trade was a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,229 shares of company stock valued at $4,452,664 over the last ninety days. 0.24% of the stock is owned by insiders.

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.