California State Teachers Retirement System Cuts Stake in Electronic Arts Inc. (NASDAQ:EA)

California State Teachers Retirement System reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 1.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 461,693 shares of the game software company’s stock after selling 8,013 shares during the period. California State Teachers Retirement System’s holdings in Electronic Arts were worth $53,422,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Northern Oak Wealth Management Inc. acquired a new position in Electronic Arts during the 2nd quarter worth approximately $25,000. Ameliora Wealth Management Ltd. acquired a new position in shares of Electronic Arts in the 3rd quarter valued at $29,000. MCF Advisors LLC boosted its holdings in shares of Electronic Arts by 2,500.0% in the 3rd quarter. MCF Advisors LLC now owns 260 shares of the game software company’s stock valued at $30,000 after buying an additional 250 shares in the last quarter. Neo Ivy Capital Management boosted its holdings in shares of Electronic Arts by 70.1% in the 2nd quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock valued at $31,000 after buying an additional 108 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Electronic Arts in the 3rd quarter valued at $32,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $120.84, for a total value of $604,200.00. Following the sale, the chief executive officer now directly owns 85,274 shares of the company’s stock, valued at approximately $10,304,510.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $123.59, for a total value of $98,872.00. Following the sale, the insider now directly owns 26,155 shares of the company’s stock, valued at approximately $3,232,496.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the sale, the chief executive officer now directly owns 85,274 shares in the company, valued at $10,304,510.16. The disclosure for this sale can be found here. Insiders sold 13,100 shares of company stock worth $1,626,881 in the last 90 days. 0.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EA shares. Morgan Stanley lowered their target price on shares of Electronic Arts from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Wednesday, February 1st. TheStreet downgraded shares of Electronic Arts from a “b-” rating to a “c+” rating in a research report on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research report on Thursday, February 16th. Wells Fargo & Company reduced their price target on shares of Electronic Arts from $150.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 1st. Finally, StockNews.com assumed coverage on shares of Electronic Arts in a research report on Thursday. They issued a “buy” rating for the company. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.54.

Electronic Arts Stock Performance

Shares of EA opened at $113.53 on Friday. The company has a 50-day simple moving average of $117.21 and a 200-day simple moving average of $122.19. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $31.34 billion, a PE ratio of 30.60, a P/E/G ratio of 8.20 and a beta of 0.86. Electronic Arts Inc. has a 52-week low of $108.53 and a 52-week high of $142.79.

Electronic Arts (NASDAQ:EA – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The game software company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($1.89). The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Electronic Arts had a net margin of 14.08% and a return on equity of 14.38%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.80 EPS. Equities research analysts predict that Electronic Arts Inc. will post 4.44 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Wednesday, March 1st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.67%. Electronic Arts’s dividend payout ratio is presently 20.49%.

About Electronic Arts

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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. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Anthem, Need for Speed, and Plants v.