Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 83.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,846 shares of the game software company's stock after selling 346,971 shares during the period. Teacher Retirement System of Texas' holdings in Electronic Arts were worth $10,239,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Nomura Holdings Inc. increased its stake in Electronic Arts by 11.7% in the fourth quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock valued at $4,566,000 after purchasing an additional 3,259 shares during the period. Huntington National Bank boosted its holdings in Electronic Arts by 31.4% during the fourth quarter. Huntington National Bank now owns 338,870 shares of the game software company's stock worth $49,577,000 after buying an additional 80,968 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Electronic Arts by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock worth $94,456,000 after buying an additional 13,461 shares in the last quarter. Amundi lifted its holdings in shares of Electronic Arts by 4.3% in the fourth quarter. Amundi now owns 2,990,729 shares of the game software company's stock valued at $431,315,000 after purchasing an additional 122,494 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Electronic Arts by 11,587.9% in the first quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock valued at $96,737,000 after purchasing an additional 663,640 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on EA shares. Citigroup reaffirmed a "neutral" rating and issued a $153.00 price target (up previously from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Wedbush raised shares of Electronic Arts to a "strong-buy" rating in a research report on Tuesday, July 1st. TD Cowen upped their price target on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, HSBC raised shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price target for the company in a report on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $162.80.

Electronic Arts Stock Performance

Shares of Electronic Arts stock traded down $1.68 during trading hours on Friday, reaching $155.35. The company's stock had a trading volume of 1,321,185 shares, compared to its average volume of 2,821,253. The company's 50 day simple moving average is $150.64 and its 200 day simple moving average is $142.38. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50. The stock has a market cap of $39.03 billion, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.73.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were given a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.49%. Electronic Arts's payout ratio is currently 17.92%.

Insider Buying and Selling at Electronic Arts

In other news, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $145.65, for a total value of $218,475.00. Following the transaction, the executive vice president directly owned 19,033 shares in the company, valued at approximately $2,772,156.45. This trade represents a 7.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total transaction of $159,530.00. Following the completion of the sale, the insider owned 37,131 shares in the company, valued at approximately $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,729 shares of company stock valued at $4,784,679. Corporate insiders own 0.24% of the company's stock.

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.