Triglav Skladi D.O.O. Trims Holdings in Electronic Arts Inc. (NASDAQ:EA)

Key Points

• Triglav Skladi D.O.O. has reduced its stake in Electronic Arts Inc. by 98.6%, selling 45,520 shares and now holding only 625 shares valued at approximately $90,000.
• Institutional investors own 90.23% of Electronic Arts, with notable increases in stakes from companies like Goldman Sachs Group Inc., which boosted its stake by 62.7%.
• Recent analyst upgrades have raised target prices for Electronic Arts shares, with Oppenheimer and Roth Capital both setting target prices at $185.00, reflecting a positive outlook for the stock.

Triglav Skladi D.O.O. decreased its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 98.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 625 shares of the game software company's stock after selling 45,520 shares during the quarter. Triglav Skladi D.O.O.'s holdings in Electronic Arts were worth $90,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of EA. Putney Financial Group LLC bought a new position in shares of Electronic Arts during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Electronic Arts in the 1st quarter valued at $28,000. Bank of Jackson Hole Trust increased its stake in shares of Electronic Arts by 56.4% in the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after buying an additional 75 shares during the period. LGT Financial Advisors LLC acquired a new stake in shares of Electronic Arts during the fourth quarter worth $33,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Electronic Arts during the first quarter worth $39,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Price Performance

Shares of NASDAQ:EA traded down $4.34 on Friday, reaching $174.67. The company's stock had a trading volume of 3,428,521 shares, compared to its average volume of 3,477,202. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $180.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50-day simple moving average of $156.13 and a 200 day simple moving average of $145.84. The company has a market cap of $43.70 billion, a P/E ratio of 43.78, a PEG ratio of 2.31 and a beta of 0.72.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts's dividend payout ratio (DPR) is currently 19.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EA shares. Oppenheimer upped their target price on Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and increased their price objective for the company from $175.00 to $185.00 in a report on Tuesday, June 24th. DA Davidson increased their price target on Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday. Argus set a $170.00 price target on Electronic Arts in a research note on Friday, May 16th. Finally, Robert W. Baird lifted their target price on shares of Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Electronic Arts currently has a consensus rating of "Moderate Buy" and an average price target of $167.12.

Insiders Place Their Bets

In other Electronic Arts news, CFO Stuart Canfield sold 1,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total transaction of $151,320.00. Following the completion of the transaction, the chief financial officer owned 14,533 shares of the company's stock, valued at $2,199,133.56. This trade represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $148.69, for a total transaction of $223,035.00. Following the completion of the transaction, the executive vice president directly owned 29,948 shares of the company's stock, valued at approximately $4,452,968.12. The trade was a 4.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,229 shares of company stock valued at $4,452,664. 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.