SteelPeak Wealth LLC Buys New Stake in Electronic Arts Inc. (NASDAQ:EA)

SteelPeak Wealth LLC purchased a new position in Electronic Arts Inc. (NASDAQ:EA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,715 shares of the game software company's stock, valued at approximately $1,404,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its position in shares of 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 purchasing an additional 1,081,589 shares in the last quarter. FMR LLC lifted its stake in Electronic Arts by 224.8% during the 4th quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock valued at $176,709,000 after acquiring an additional 835,985 shares during the period. Royal Bank of Canada boosted its holdings in 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 valued at $175,758,000 after purchasing an additional 679,032 shares during the last quarter. GAMMA Investing LLC grew its position in 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 period. Finally, Norges Bank acquired a new stake in Electronic Arts during the 4th quarter worth about $96,698,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on EA. JPMorgan Chase & Co. lifted their price target on Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Wedbush upgraded shares of Electronic Arts to a "strong-buy" rating in a research note on Tuesday, July 1st. TD Cowen increased their price target on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Moffett Nathanson reiterated a "neutral" rating and issued a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, May 7th. Finally, Benchmark raised their target price on Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $162.71.

Insider Activity at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 6,563 shares of Electronic Arts stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $151.18, for a total value of $992,194.34. Following the transaction, the chief executive officer directly owned 70,059 shares in the company, valued at approximately $10,591,519.62. The trade was a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $155.57, for a total transaction of $388,925.00. Following the completion of the sale, the insider directly owned 40,189 shares of the company's stock, valued at $6,252,202.73. The trade was a 5.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,729 shares of company stock worth $4,784,679. Insiders own 0.24% of the company's stock.

Electronic Arts Stock Down 1.7%

Electronic Arts stock traded down $2.61 during mid-day trading on Friday, hitting $148.69. The company had a trading volume of 1,840,332 shares, compared to its average volume of 2,813,522. 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 Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The business has a fifty day moving average of $151.14 and a 200 day moving average of $142.55. The stock has a market cap of $37.36 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 2.05 and a beta of 0.73.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were given a $0.19 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.51%. Electronic Arts's dividend payout ratio (DPR) is presently 17.92%.

About Electronic Arts

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.