51,000 Shares in Electronic Arts Inc. $EA Bought by Unisphere Establishment

Key Points

• Unisphere Establishment invested approximately $7.37 million in Electronic Arts Inc. by acquiring 51,000 shares during the first quarter.
• Recent insider transactions include CEO Laura Miele selling 2,500 shares and CFO Stuart Canfield selling 1,000 shares, each representing a decrease in their positions.
• Electronic Arts received a boost in its stock rating from HSBC, which upgraded it from "hold" to "buy" with a target price of $190, amidst a mix of ratings from other analysts.

Unisphere Establishment acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 51,000 shares of the game software company's stock, valued at approximately $7,371,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Putney Financial Group LLC bought a new stake in Electronic Arts in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new stake in Electronic Arts in the 1st quarter valued at about $28,000. Bank of Jackson Hole Trust raised its stake in 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 acquiring an additional 75 shares during the period. Wayfinding Financial LLC bought a new stake in Electronic Arts in the 1st quarter valued at about $39,000. Finally, American National Bank & Trust bought a new stake in shares of Electronic Arts during the first quarter valued at about $40,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Price Performance

Shares of NASDAQ EA traded up $0.59 during midday trading on Friday, hitting $168.62. 2,205,511 shares of the company's stock were exchanged, compared to its average volume of 2,839,614. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $180.90. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. The company has a market cap of $42.19 billion, a price-to-earnings ratio of 42.26, a PEG ratio of 2.18 and a beta of 0.75. The business's fifty day moving average price is $161.78 and its two-hundred day moving average price is $150.51.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.5%. Electronic Arts's dividend payout ratio is currently 19.05%.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total transaction of $855,250.00. Following the completion of the sale, the chief executive officer owned 52,393 shares of the company's stock, valued at approximately $8,961,822.65. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jacob J. Schatz sold 1,200 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $174.65, for a total value of $209,580.00. Following the sale, the executive vice president directly owned 27,248 shares of the company's stock, valued at approximately $4,758,863.20. This trade represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,900 shares of company stock valued at $4,778,597 over the last 90 days. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wedbush reiterated an "outperform" rating and set a $210.00 price target on shares of Electronic Arts in a research report on Monday, August 25th. Bank of America upped their price target on Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Argus set a $170.00 price target on Electronic Arts in a research report on Friday, May 16th. Wells Fargo & Company set a $168.00 price target on Electronic Arts and gave the company an "equal weight" rating in a research report on Monday, July 28th. Finally, Arete upgraded Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price target on the stock in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $167.12.

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.