Twinbeech Capital LP Boosts Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Twinbeech Capital LP lifted its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 161.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,013 shares of the game software company's stock after purchasing an additional 101,844 shares during the quarter. Twinbeech Capital LP owned 0.06% of Electronic Arts worth $24,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC raised its position in Electronic Arts by 353.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,269,258 shares of the game software company's stock valued at $185,692,000 after purchasing an additional 989,319 shares during the last quarter. FMR LLC raised its position in Electronic Arts by 224.8% during the 4th quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock valued at $176,709,000 after purchasing an additional 835,985 shares during the last quarter. Royal Bank of Canada raised its position in Electronic Arts by 130.0% during the 4th quarter. Royal Bank of Canada now owns 1,201,353 shares of the game software company's stock valued at $175,758,000 after purchasing an additional 679,032 shares during the last quarter. Norges Bank bought a new position in Electronic Arts during the 4th quarter valued at approximately $96,698,000. Finally, Capital International Investors raised its position in Electronic Arts by 5.2% during the 4th quarter. Capital International Investors now owns 12,156,791 shares of the game software company's stock valued at $1,778,553,000 after purchasing an additional 605,796 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Benchmark increased their target price on Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Ascendiant Capital Markets increased their target price on Electronic Arts from $157.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. StockNews.com lowered Electronic Arts from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 5th. Roth Mkm reduced their price objective on Electronic Arts from $158.00 to $134.00 and set a "neutral" rating for the company in a research report on Thursday, January 23rd. Finally, BMO Capital Markets reduced their price objective on Electronic Arts from $145.00 to $142.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Fifteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $161.29.

Electronic Arts Stock Up 1.3%

Electronic Arts stock opened at $151.54 on Monday. The business has a fifty day moving average of $144.51 and a two-hundred day moving average of $144.98. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. The firm has a market cap of $38.00 billion, a P/E ratio of 38.56, a P/E/G ratio of 3.58 and a beta of 0.74. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts's payout ratio is presently 17.92%.

Insider Activity at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $155.57, for a total transaction of $388,925.00. Following the sale, the insider now directly owns 40,189 shares of the company's stock, valued at $6,252,202.73. This represents a 5.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $130.14, for a total transaction of $650,700.00. Following the sale, the chief executive officer now directly owns 37,615 shares in the company, valued at approximately $4,895,216.10. The trade was a 11.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,500 shares of company stock valued at $3,342,580 in the last ninety days. Company insiders own 0.22% of the company's stock.

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.