Thompson Investment Management Inc. Cuts Stock Holdings in Electronic Arts Inc. $EA

Key Points

• Thompson Investment Management Inc. has reduced its holdings in Electronic Arts Inc. by 10.9%, owning 47,472 shares valued at $7.58 million after selling 5,810 shares in Q2.
• Hedge funds like Vanguard and Goldman Sachs have increased their stakes in Electronic Arts, with Goldman Sachs boosting its ownership by 62.7%.
• Several analysts downgraded EA's stock from a "buy" to a "hold" rating, with a consensus rating of "hold" and an average target price of $177.00.

Thompson Investment Management Inc. reduced its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 10.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,472 shares of the game software company's stock after selling 5,810 shares during the quarter. Thompson Investment Management Inc.'s holdings in Electronic Arts were worth $7,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Electronic Arts by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock valued at $4,198,607,000 after buying an additional 150,438 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Electronic Arts by 4.6% during the second quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company's stock worth $695,645,000 after acquiring an additional 193,442 shares in the last quarter. Independent Franchise Partners LLP raised its stake in shares of Electronic Arts by 2.3% during the first quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company's stock worth $570,233,000 after acquiring an additional 88,767 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Electronic Arts by 15.6% in the 1st quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company's stock worth $539,563,000 after acquiring an additional 504,760 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Electronic Arts by 62.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock valued at $470,197,000 after purchasing an additional 1,254,194 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EA has been the topic of a number of analyst reports. Wall Street Zen cut shares of Electronic Arts from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Jefferies Financial Group downgraded Electronic Arts from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $200.00 to $210.00 in a report on Tuesday, September 30th. UBS Group set a $210.00 target price on Electronic Arts and gave the company a "neutral" rating in a report on Tuesday, September 30th. Oppenheimer cut Electronic Arts from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 30th. Finally, DA Davidson lifted their target price on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Electronic Arts currently has a consensus rating of "Hold" and an average target price of $177.00.

Insiders Place Their Bets

In related news, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $172.79, for a total transaction of $863,950.00. Following the sale, the chief executive officer owned 47,393 shares of the company's stock, valued at $8,189,036.47. The trade was a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jacob J. Schatz sold 1,200 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $171.52, for a total value of $205,824.00. Following the completion of the sale, the executive vice president owned 26,080 shares in the company, valued at $4,473,241.60. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,000 shares of company stock valued at $7,247,635 over the last ninety days. 0.24% of the stock is owned by corporate insiders.

Electronic Arts Stock Performance

NASDAQ:EA opened at $200.05 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm's fifty day simple moving average is $176.29 and its 200 day simple moving average is $158.13. The stock has a market cap of $50.05 billion, a P/E ratio of 50.14, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $203.75.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts's dividend payout ratio is presently 19.05%.

Electronic Arts Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.