XTX Topco Ltd Acquires 21,308 Shares of Electronic Arts Inc. (NASDAQ:EA)

Key Points

• XTX Topco Ltd increased its stake in Electronic Arts Inc. by 627.6% in the first quarter, now owning 24,703 shares valued at approximately $3.57 million.
• Electronic Arts announced a quarterly dividend of $0.19 per share, translating to a 0.50% annual dividend yield.
• Multiple analysts have set target prices for Electronic Arts' stock, with a range between $163.00 and $210.00, indicating varied expectations for the stock's performance.

XTX Topco Ltd lifted its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 627.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,703 shares of the game software company's stock after buying an additional 21,308 shares during the period. XTX Topco Ltd's holdings in Electronic Arts were worth $3,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of EA. Financial Management Professionals Inc. lifted its stake in shares of Electronic Arts by 15.0% in the first quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock worth $81,000 after acquiring an additional 73 shares in the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Electronic Arts by 34.2% in the first quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock worth $43,000 after acquiring an additional 76 shares in the last quarter. Clarius Group LLC lifted its stake in shares of Electronic Arts by 3.6% in the first quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock worth $319,000 after acquiring an additional 77 shares in the last quarter. Intrust Bank NA lifted its stake in shares of Electronic Arts by 3.3% in the fourth quarter. Intrust Bank NA now owns 2,475 shares of the game software company's stock worth $362,000 after acquiring an additional 78 shares in the last quarter. Finally, Conning Inc. lifted its stake in shares of Electronic Arts by 4.7% in the first quarter. Conning Inc. now owns 1,749 shares of the game software company's stock worth $253,000 after acquiring an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company's stock.

Electronic Arts Price Performance

Shares of NASDAQ:EA traded up $8.47 during trading on Wednesday, reaching $156.26. The stock had a trading volume of 6,043,775 shares, compared to its average volume of 2,244,142. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The business's 50-day moving average price is $151.10 and its 200 day moving average price is $143.06. 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 stock has a market capitalization of $39.26 billion, a PE ratio of 39.16, a P/E/G ratio of 2.01 and a beta of 0.73.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Wednesday, August 27th. Electronic Arts's dividend payout ratio is presently 17.92%.

Insider Activity

In other news, insider Laura Miele sold 2,500 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.50, for a total value of $398,750.00. Following the completion of the transaction, the insider owned 60,592 shares of the company's stock, valued at $9,664,424. The trade was a 3.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of the business's stock in a transaction on 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 directly owned 14,533 shares of the company's stock, valued at $2,199,133.56. This trade represents a 6.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,729 shares of company stock worth $4,822,884. Corporate insiders own 0.24% of the company's stock.

Analyst Ratings Changes

EA has been the topic of several research reports. UBS Group upped their price objective on Electronic Arts from $152.00 to $167.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company set a $168.00 price target on Electronic Arts and gave the stock an "equal weight" rating in a research report on Monday. Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and increased their price target for the stock from $175.00 to $185.00 in a research report on Tuesday, June 24th. HSBC upgraded Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a research report on Wednesday, May 7th. Finally, Moffett Nathanson reiterated a "neutral" rating and set a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $164.44.

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.