Rafferty Asset Management LLC Raises Position in Electronic Arts Inc. (NASDAQ:EA)

Rafferty Asset Management LLC grew its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,677 shares of the game software company's stock after acquiring an additional 5,017 shares during the period. Rafferty Asset Management LLC's holdings in Electronic Arts were worth $15,753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raiffeisen Bank International AG purchased a new stake in Electronic Arts during the fourth quarter worth about $5,426,000. Polar Capital Holdings Plc purchased a new stake in Electronic Arts during the fourth quarter worth about $48,806,000. ProShare Advisors LLC boosted its holdings in Electronic Arts by 17.8% during the fourth quarter. ProShare Advisors LLC now owns 335,092 shares of the game software company's stock worth $49,024,000 after buying an additional 50,538 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Electronic Arts by 117.3% during the fourth quarter. Quantinno Capital Management LP now owns 55,986 shares of the game software company's stock worth $8,191,000 after buying an additional 30,221 shares in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new stake in Electronic Arts during the fourth quarter worth about $516,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Insider Activity

In related news, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $142.50, for a total value of $712,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,615 shares in the company, valued at approximately $4,647,637.50. The trade was a 13.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total transaction of $145,000.00. Following the completion of the sale, the insider now owns 26,216 shares of the company's stock, valued at approximately $3,801,320. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,500 shares of company stock valued at $3,342,580 over the last 90 days. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on EA shares. Moffett Nathanson reissued a "neutral" rating and set a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, May 7th. Wedbush boosted their price objective on shares of Electronic Arts from $179.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Hsbc Global Res raised shares of Electronic Arts from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 7th. Stifel Nicolaus cut their target price on shares of Electronic Arts from $167.00 to $159.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. Finally, TD Cowen lifted their target price on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Electronic Arts currently has a consensus rating of "Hold" and a consensus price target of $161.83.

Electronic Arts Stock Performance

NASDAQ:EA opened at $149.57 on Friday. The firm has a 50 day simple moving average of $144.23 and a 200-day simple moving average of $145.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $38.98 billion, a PE ratio of 38.06, a P/E/G ratio of 3.58 and a beta of 0.74. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is 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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