Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in Electronic Arts Inc. (NASDAQ:EA)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Electronic Arts Inc. (NASDAQ:EAGet Rating) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,527 shares of the game software company’s stock after purchasing an additional 1,439 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Electronic Arts were worth $2,740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EA. Schroder Investment Management Group raised its stake in Electronic Arts by 36.1% in the 4th quarter. Schroder Investment Management Group now owns 64,931 shares of the game software company’s stock worth $8,564,000 after acquiring an additional 17,206 shares during the last quarter. Gotham Asset Management LLC raised its stake in Electronic Arts by 65.3% in the 4th quarter. Gotham Asset Management LLC now owns 14,540 shares of the game software company’s stock worth $1,918,000 after acquiring an additional 5,743 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Electronic Arts by 10.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,857 shares of the game software company’s stock worth $771,000 after acquiring an additional 565 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Electronic Arts in the 4th quarter worth $623,000. Finally, Blair William & Co. IL raised its stake in Electronic Arts by 53.0% in the 4th quarter. Blair William & Co. IL now owns 17,859 shares of the game software company’s stock worth $2,356,000 after acquiring an additional 6,189 shares during the last quarter. Hedge funds and other institutional investors own 90.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Electronic Arts from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 9th. Stifel Nicolaus reduced their price objective on Electronic Arts from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Ascendiant Capital Markets set a $160.00 price objective on Electronic Arts in a research note on Monday, June 20th. StockNews.com upgraded Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Finally, Moffett Nathanson lowered Electronic Arts from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $141.00 to $147.00 in a research note on Friday, June 10th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Electronic Arts presently has a consensus rating of “Moderate Buy” and an average price target of $150.64.

Insider Buying and Selling

In related news, CTO Kenneth A. Moss sold 30,713 shares of Electronic Arts stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $131.28, for a total value of $4,032,002.64. Following the sale, the chief technology officer now directly owns 249,539 shares in the company, valued at approximately $32,759,479.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Kenneth A. Moss sold 30,713 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $131.28, for a total transaction of $4,032,002.64. Following the transaction, the chief technology officer now directly owns 249,539 shares in the company, valued at approximately $32,759,479.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 8,182 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $123.05, for a total value of $1,006,795.10. Following the transaction, the chief executive officer now owns 34,242 shares in the company, valued at $4,213,478.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,901 shares of company stock worth $12,015,172. Insiders own 0.37% of the company’s stock.

Electronic Arts Trading Down 0.1 %

EA stock opened at $117.42 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12-month low of $109.24 and a 12-month high of $146.72. The stock has a market cap of $32.65 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 3.72 and a beta of 0.84. The business’s 50-day moving average is $128.21 and its 200 day moving average is $127.22.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.65%. The ex-dividend date was Tuesday, August 30th. Electronic Arts’s payout ratio is 24.05%.

Electronic Arts Profile

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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.

See Also

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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