Allspring Global Investments Holdings LLC Has $58.18 Million Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Allspring Global Investments Holdings LLC grew its holdings in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 425,223 shares of the game software company's stock after buying an additional 61,864 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.16% of Electronic Arts worth $58,175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EA. Vanguard Group Inc. raised its holdings in shares of Electronic Arts by 16.3% during the third quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company's stock valued at $3,086,621,000 after purchasing an additional 3,600,388 shares during the last quarter. Norges Bank purchased a new stake in Electronic Arts during the fourth quarter valued at $270,382,000. Morgan Stanley lifted its holdings in Electronic Arts by 62.1% in the fourth quarter. Morgan Stanley now owns 3,193,059 shares of the game software company's stock valued at $390,128,000 after acquiring an additional 1,223,195 shares during the period. Barclays PLC lifted its stake in shares of Electronic Arts by 265.0% in the 2nd quarter. Barclays PLC now owns 1,516,792 shares of the game software company's stock worth $196,727,000 after purchasing an additional 1,101,229 shares during the period. Finally, DNB Asset Management AS boosted its holdings in shares of Electronic Arts by 82.3% in the fourth quarter. DNB Asset Management AS now owns 2,357,238 shares of the game software company's stock worth $322,494,000 after buying an additional 1,064,022 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jacob J. Schatz sold 1,000 shares of the firm's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $143.24, for a total value of $143,240.00. Following the completion of the transaction, the insider now owns 20,258 shares in the company, valued at $2,901,755.92. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Vijayanthimala Singh sold 800 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $137.43, for a total transaction of $109,944.00. Following the completion of the transaction, the insider now owns 28,683 shares of the company's stock, valued at $3,941,904.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacob J. Schatz sold 1,000 shares of the business's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $143.24, for a total transaction of $143,240.00. Following the sale, the insider now directly owns 20,258 shares of the company's stock, valued at $2,901,755.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,144 shares of company stock valued at $5,153,300. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on EA shares. Wedbush restated an "outperform" rating and issued a $162.00 price target on shares of Electronic Arts in a research note on Wednesday, January 31st. Stifel Nicolaus boosted their price objective on shares of Electronic Arts from $152.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, January 18th. BMO Capital Markets started coverage on shares of Electronic Arts in a research note on Tuesday, January 9th. They set an "outperform" rating and a $160.00 price target for the company. Finally, UBS Group cut their target price on Electronic Arts from $146.00 to $143.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 27th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

Electronic Arts Stock Down 0.1 %

Shares of EA stock traded down $0.12 during trading on Thursday, reaching $129.18. The company's stock had a trading volume of 2,296,879 shares, compared to its average volume of 2,074,015. The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 1.80 and a beta of 0.76. Electronic Arts Inc. has a 1-year low of $117.47 and a 1-year high of $144.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.33 and a quick ratio of 1.33. The stock's 50-day moving average price is $136.00 and its 200 day moving average price is $133.99.

Electronic Arts (NASDAQ:EA - Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The game software company reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.45 by ($1.38). Electronic Arts had a net margin of 14.09% and a return on equity of 20.58%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the business earned $2.29 EPS. Electronic Arts's revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts anticipate that Electronic Arts Inc. will post 5.36 EPS for the current year.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.59%. Electronic Arts's dividend payout ratio (DPR) is currently 19.14%.

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.