Savant Capital LLC Sells 9,696 Shares of Electronic Arts Inc. $EA

Key Points

• Savant Capital LLC cut its Electronic Arts stake by 65.9% in the fourth quarter, selling 9,696 shares and leaving it with 5,018 shares worth about $1.025 million.
• Several other institutional investors also adjusted their EA positions, and institutional ownership remains high at 90.23%.
• Wall Street is broadly cautious on EA: analysts currently have a Hold consensus rating with an average target price of $196.64, while recent insider sales by the CFO and CEO were disclosed under pre-arranged trading plans.

Savant Capital LLC trimmed its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 65.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,018 shares of the game software company's stock after selling 9,696 shares during the period. Savant Capital LLC's holdings in Electronic Arts were worth $1,025,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings 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 buying an additional 294 shares during the period. Empowered Funds LLC boosted its holdings in shares of Electronic Arts by 167.0% during the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company's stock worth $2,790,000 after buying an additional 12,076 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Electronic Arts by 150.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company's stock worth $46,000 after buying an additional 190 shares during the period. Jump Financial LLC bought a new stake in shares of Electronic Arts during the 2nd quarter worth $2,323,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Electronic Arts by 96.4% during the 2nd quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company's stock worth $490,000 after buying an additional 1,505 shares during the period. 90.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EA has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Argus downgraded shares of Electronic Arts from a "buy" rating to a "hold" rating in a report on Thursday, May 28th. UBS Group reaffirmed a "neutral" rating on shares of Electronic Arts in a report on Wednesday, February 4th. Finally, Weiss Ratings raised shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $196.64.

Insider Buying and Selling at Electronic Arts

In other news, CFO Stuart Canfield sold 1,500 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the transaction, the chief financial officer directly owned 25,991 shares of the company's stock, valued at approximately $5,233,547.76. This trade represents a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Andrew Wilson sold 5,066 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the transaction, the chief executive officer directly owned 85,974 shares of the company's stock, valued at $17,337,516.84. The trade was a 5.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 39,906 shares of company stock worth $8,032,336. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Price Performance

Shares of Electronic Arts stock opened at $202.01 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. Electronic Arts Inc. has a fifty-two week low of $144.67 and a fifty-two week high of $204.88. The firm has a fifty day moving average price of $202.10 and a two-hundred day moving average price of $202.26. The company has a market cap of $50.65 billion, a PE ratio of 57.88, a price-to-earnings-growth ratio of 2.23 and a beta of 0.65.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts's dividend payout ratio is 21.78%.

Electronic Arts Profile

Electronic Arts Inc NASDAQ: EA is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA's product lineup spans several well-known franchises and genres.

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