Zurcher Kantonalbank Zurich Cantonalbank Sells 97,855 Shares of Electronic Arts Inc. $EA

Key Points

• Zurcher Kantonalbank cut its stake in Electronic Arts by 40%, selling 97,855 shares and leaving it with 147,025 shares valued at about $30.0 million (≈0.06% of EA) after the quarter.
• Insider selling continued: CEO Andrew Wilson sold 5,000 shares (and Laura Miele 2,500) under pre-arranged 10b5-1 plans, and insiders have sold 27,600 shares worth $5.54 million over the past 90 days.
• EA is trading around $203.55 with a market cap of about $50.9 billion and a high P/E (~76.5); analysts have a consensus rating of Hold with a $188.30 target price.

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 40.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 147,025 shares of the game software company's stock after selling 97,855 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Electronic Arts worth $30,042,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. boosted its position in Electronic Arts by 100.0% during the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company's stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. Oakworth Capital Inc. bought a new stake in Electronic Arts during the third quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Electronic Arts by 131.9% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 167 shares of the game software company's stock valued at $34,000 after acquiring an additional 95 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Electronic Arts by 150.8% during the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company's stock valued at $46,000 after acquiring an additional 190 shares during the last quarter. Finally, Tidemark LLC bought a new stake in Electronic Arts during the third quarter valued at $50,000. Institutional investors own 90.23% of the company's stock.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $203.55 on Wednesday. The firm's 50-day moving average price is $201.55 and its 200-day moving average price is $202.08. Electronic Arts Inc. has a 1-year low of $141.19 and a 1-year high of $204.88. The firm has a market capitalization of $50.94 billion, a P/E ratio of 76.52, a P/E/G ratio of 2.19 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, February 25th. Electronic Arts's dividend payout ratio is currently 28.57%.

Insider Buying and Selling at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $203.21, for a total value of $1,016,050.00. Following the sale, the chief executive officer owned 23,858 shares in the company, valued at $4,848,184.18. This represents a 17.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $203.21, for a total transaction of $508,025.00. Following the completion of the sale, the insider owned 43,343 shares in the company, valued at $8,807,731.03. This represents a 5.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 27,600 shares of company stock worth $5,544,159. 0.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EA. Citigroup cut their price target on shares of Electronic Arts from $207.00 to $202.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 4th. UBS Group reaffirmed a "neutral" rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Three investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Electronic Arts has a consensus rating of "Hold" and a consensus target price of $188.30.

Electronic Arts Profile

Electronic Arts Inc NASDAQ: EA is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA's product lineup spans several well-known franchises and genres.

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