Stephens Investment Management Group LLC Sells 32,568 Shares of Electronic Arts Inc. $EA

Key Points

• Stephens Investment Management Group LLC reduced its holdings in Electronic Arts Inc. by 5.5%, selling 32,568 shares and now owning a total of 555,540 shares valued at approximately $88.72 million.
• Insider sales included CFO Stuart Canfield selling 6,500 shares for $1.32 million, reducing his ownership by 55.84%.
• Electronic Arts' stock has a market cap of $50.18 billion, with recent analyst price targets ranging from $168 to $210, and a consensus rating of "Hold."

Stephens Investment Management Group LLC cut its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 555,540 shares of the game software company's stock after selling 32,568 shares during the period. Electronic Arts makes up 1.2% of Stephens Investment Management Group LLC's portfolio, making the stock its 21st largest position. Stephens Investment Management Group LLC owned 0.22% of Electronic Arts worth $88,720,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EA. Ameriprise Financial Inc. lifted its stake in Electronic Arts by 197.5% in the first quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company's stock worth $421,524,000 after purchasing an additional 1,936,313 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Electronic Arts in the first quarter worth $225,102,000. Nuveen LLC bought a new stake in Electronic Arts in the first quarter worth $203,537,000. Goldman Sachs Group Inc. lifted its stake in Electronic Arts by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock worth $470,197,000 after purchasing an additional 1,254,194 shares during the last quarter. Finally, ING Groep NV lifted its stake in Electronic Arts by 3,477.8% in the first quarter. ING Groep NV now owns 1,163,747 shares of the game software company's stock worth $168,185,000 after purchasing an additional 1,131,220 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Electronic Arts news, CFO Stuart Canfield sold 6,500 shares of the company's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the sale, the chief financial officer owned 5,140 shares in the company, valued at approximately $1,045,476. This represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 1,200 shares of the company's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $200.31, for a total transaction of $240,372.00. Following the completion of the sale, the insider owned 32,331 shares in the company, valued at approximately $6,476,222.61. This trade represents a 3.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,900 shares of company stock valued at $7,748,187. Insiders own 0.24% of the company's stock.

Electronic Arts Price Performance

Shares of EA opened at $200.55 on Wednesday. The stock has a market cap of $50.18 billion, a PE ratio of 50.26, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77. 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 fifty-two week low of $115.21 and a fifty-two week high of $203.75. The firm's 50-day simple moving average is $181.84 and its two-hundred day simple moving average is $161.37.

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 $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, August 27th. Electronic Arts's dividend payout ratio is 19.05%.

Wall Street Analyst Weigh In

EA has been the subject of several recent analyst reports. Robert W. Baird reaffirmed a "neutral" rating and set a $210.00 price objective (up from $170.00) on shares of Electronic Arts in a research note on Monday, September 29th. Jefferies Financial Group downgraded shares of Electronic Arts from a "buy" rating to a "hold" rating and upped their price objective for the company from $200.00 to $210.00 in a research note on Tuesday, September 30th. Wells Fargo & Company set a $168.00 price objective on shares of Electronic Arts and gave the company an "equal weight" rating in a research note on Monday, July 28th. DA Davidson upped their price objective on shares of Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Baird R W downgraded shares of Electronic Arts from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $179.38.

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.

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