Wealthfront Advisers LLC Decreases Holdings in Electronic Arts Inc. (NASDAQ:EA)

Wealthfront Advisers LLC cut its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 8.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,295 shares of the game software company's stock after selling 1,942 shares during the period. Wealthfront Advisers LLC's holdings in Electronic Arts were worth $3,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Putney Financial Group LLC acquired a new position in Electronic Arts during the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts during the 1st quarter worth $28,000. LGT Financial Advisors LLC purchased a new position in Electronic Arts in the fourth quarter valued at about $33,000. Millstone Evans Group LLC bought a new position in Electronic Arts during the fourth quarter worth $37,000. Finally, Wayfinding Financial LLC bought a new position in shares of Electronic Arts during the first quarter worth about $39,000. Institutional investors and hedge funds own 90.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EA. Argus set a $170.00 target price on shares of Electronic Arts in a research note on Friday, May 16th. Robert W. Baird set a $168.00 price objective on Electronic Arts in a report on Wednesday, May 7th. Hsbc Global Res upgraded shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. Benchmark boosted their price target on Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Wedbush upgraded shares of Electronic Arts to a "strong-buy" rating in a report on Tuesday, July 1st. Fourteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Electronic Arts has a consensus rating of "Moderate Buy" and an average price target of $162.71.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 6,563 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.18, for a total transaction of $992,194.34. Following the completion of the sale, the chief executive officer directly owned 70,059 shares in the company, valued at approximately $10,591,519.62. This trade represents a 8.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $155.57, for a total transaction of $388,925.00. Following the sale, the insider owned 40,189 shares in the company, valued at approximately $6,252,202.73. The trade was a 5.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,729 shares of company stock valued at $4,788,684 in the last 90 days. 0.24% of the stock is owned by corporate insiders.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $149.83 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day moving average of $150.66 and a two-hundred day moving average of $142.58. The stock has a market capitalization of $37.65 billion, a P/E ratio of 35.34, a P/E/G ratio of 2.03 and a beta of 0.73. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $168.50.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, May 28th. Electronic Arts's dividend payout ratio is presently 17.92%.

Electronic Arts 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.

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