Sumitomo Mitsui DS Asset Management Company Ltd Sells 1,526 Shares of Electronic Arts Inc. $EA

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Electronic Arts Inc. by 4.7%, owning 31,115 shares valued at approximately $4.97 million after selling 1,526 shares in the second quarter.
• A variety of hedge funds have made recent changes to their holdings, with institutional investors owning 90.23% of Electronic Arts' stock, highlighting significant market interest.
• Insider transactions include the sale of 1,200 shares by insider Vijayanthimala Singh and 2,500 shares by Laura Miele, indicating a reduction in insider ownership following these trades.

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,115 shares of the game software company's stock after selling 1,526 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Electronic Arts were worth $4,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC bought a new position in Electronic Arts in the first quarter worth $319,000. CCM Investment Group LLC acquired a new stake in shares of Electronic Arts in the 1st quarter valued at $1,625,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Electronic Arts by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock valued at $94,456,000 after purchasing an additional 13,461 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Electronic Arts by 5.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 105,892 shares of the game software company's stock valued at $15,300,000 after purchasing an additional 5,275 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Electronic Arts by 4.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 162,571 shares of the game software company's stock valued at $23,495,000 after purchasing an additional 6,835 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $152.21, for a total transaction of $761,050.00. Following the transaction, the chief executive officer owned 57,393 shares in the company, valued at $8,735,788.53. The trade was a 8.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $155.49, for a total value of $388,725.00. Following the transaction, the insider owned 58,092 shares in the company, valued at $9,032,725.08. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,800 shares of company stock worth $4,214,010. Company insiders own 0.24% of the company's stock.

Electronic Arts Trading Up 0.1%

Shares of Electronic Arts stock traded up $0.16 during trading on Monday, hitting $173.25. 1,117,787 shares of the company were exchanged, compared to its average volume of 3,392,443. The firm has a market capitalization of $43.35 billion, a P/E ratio of 43.42, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $180.90. The firm's fifty day moving average price is $165.08 and its 200 day moving average price is $153.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EA. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price on the stock in a research note on Tuesday, August 5th. Citigroup restated a "neutral" rating and issued a $153.00 target price (up previously from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Bank of America raised their target price on Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Wall Street Zen lowered Electronic Arts from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Arete Research set a $192.00 target price on Electronic Arts in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $167.40.

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.