Teacher Retirement System of Texas Sells 108,796 Shares of Electronic Arts Inc. $EA

Key Points

• Teacher Retirement System of Texas trimmed its stake in Electronic Arts by 71.8%, selling 108,796 shares and leaving 42,767 shares valued at about $8.74 million at quarter-end.
• Other institutions moved heavily: Pentwater opened a roughly $968 million position and Ameriprise increased its stake to 4,217,029 shares (~$673 million), with institutional ownership totaling 90.23%.
• Market view is cautious—consensus rating is Hold with a $188.30 target—while insiders sold 27,600 shares (~$5.54 million) in the past three months; EA trades near $203 with a P/E of 76.19 and a 0.4% dividend yield.

Teacher Retirement System of Texas cut its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 71.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,767 shares of the game software company's stock after selling 108,796 shares during the period. Teacher Retirement System of Texas' holdings in Electronic Arts were worth $8,739,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EA. Pentwater Capital Management LP bought a new position in shares of Electronic Arts in the third quarter valued at approximately $968,160,000. Ameriprise Financial Inc. grew its holdings in shares of Electronic Arts by 44.6% in the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company's stock valued at $673,393,000 after acquiring an additional 1,300,336 shares in the last quarter. Man Group plc grew its holdings in shares of Electronic Arts by 165.5% in the second quarter. Man Group plc now owns 1,279,249 shares of the game software company's stock valued at $204,296,000 after acquiring an additional 797,461 shares in the last quarter. Quinn Opportunity Partners LLC bought a new position in shares of Electronic Arts in the third quarter valued at approximately $156,760,000. Finally, First Trust Advisors LP grew its holdings in shares of Electronic Arts by 26.3% in the third quarter. First Trust Advisors LP now owns 3,069,543 shares of the game software company's stock valued at $619,127,000 after acquiring an additional 638,667 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EA has been the subject of several recent analyst reports. Citigroup reduced their target price on Electronic Arts from $207.00 to $202.00 and set a "neutral" rating for the company in a report on Wednesday, February 4th. UBS Group reaffirmed a "neutral" rating on shares of Electronic Arts in a report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $188.30.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $203.25, for a total transaction of $243,900.00. Following the sale, the insider owned 28,760 shares in the company, valued at $5,845,470. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $199.90, for a total value of $299,850.00. Following the sale, the chief financial officer owned 5,897 shares in the company, valued at approximately $1,178,810.30. This represents a 20.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,600 shares of company stock valued at $5,544,159 in the last three months. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $202.67 on Friday. The stock has a fifty day simple moving average of $201.64 and a two-hundred day simple moving average of $202.12. Electronic Arts Inc. has a 1-year low of $141.19 and a 1-year high of $204.88. The firm has a market cap of $50.72 billion, a price-to-earnings ratio of 76.19, a price-to-earnings-growth ratio of 2.18 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, February 25th. Electronic Arts's dividend payout ratio is 28.57%.

Electronic Arts Company 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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