Woodline Partners LP Makes New $91.85 Million Investment in Electronic Arts Inc. $EA

Key Points

• Woodline Partners LP acquired 635,574 shares of Electronic Arts Inc., valued at approximately $91.85 million, making it 21st largest position in their investment portfolio.
• Electronic Arts recently declared a quarterly dividend of $0.19 per share, with a yield of 0.5%, expected to be paid out on September 17th.
• Several hedge funds have recently modified their holdings of EA, with institutional investors now owning 90.23% of the company's stock.

Woodline Partners LP bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 635,574 shares of the game software company's stock, valued at approximately $91,853,000. Electronic Arts comprises about 0.6% of Woodline Partners LP's portfolio, making the stock its 21st largest holding. Woodline Partners LP owned 0.24% of Electronic Arts at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EA. Putney Financial Group LLC purchased a new position in Electronic Arts during the 4th quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Electronic Arts during the first quarter worth about $28,000. Bank of Jackson Hole Trust grew its holdings in shares of Electronic Arts by 56.4% during the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after buying an additional 75 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Electronic Arts in the 1st quarter valued at about $39,000. Finally, American National Bank & Trust purchased a new stake in Electronic Arts during the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Insider Activity at Electronic Arts

In other news, CFO Stuart Canfield sold 1,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $171.06, for a total value of $171,060.00. Following the completion of the transaction, the chief financial officer owned 15,140 shares in the company, valued at $2,589,848.40. This trade represents a 6.20% 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, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $172.26, for a total value of $206,712.00. Following the transaction, the insider directly owned 35,931 shares of the company's stock, valued at $6,189,474.06. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,900 shares of company stock valued at $4,778,597 in the last 90 days. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America lifted their target price on Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price objective on the stock in a research report on Tuesday, August 5th. Citigroup reissued a "neutral" rating and issued a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Finally, Arete Research set a $192.00 price target on shares of Electronic Arts in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have issued a Hold rating to the company's stock. According to MarketBeat.com, Electronic Arts currently has a consensus rating of "Moderate Buy" and an average target price of $167.12.

Electronic Arts Price Performance

Electronic Arts stock traded down $0.38 during mid-day trading on Thursday, reaching $169.89. The company had a trading volume of 2,410,758 shares, compared to its average volume of 2,374,967. The stock's 50-day simple moving average is $162.64 and its 200-day simple moving average is $151.40. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $180.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $42.51 billion, a P/E ratio of 42.58, a P/E/G ratio of 2.20 and a beta of 0.75.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's payout ratio is currently 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.