Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 9.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 42,729 shares of the game software company’s stock after selling 4,300 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Electronic Arts were worth $5,542,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Resurgent Financial Advisors LLC purchased a new stake in Electronic Arts during the fourth quarter worth $26,000. WealthPLAN Partners LLC purchased a new stake in shares of Electronic Arts during the 1st quarter worth about $29,000. Neo Ivy Capital Management grew its position in shares of Electronic Arts by 70.1% during the 2nd quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock valued at $31,000 after acquiring an additional 108 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Electronic Arts in the 4th quarter valued at about $33,000. Finally, Compass Wealth Management LLC acquired a new position in Electronic Arts in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 90.42% of the company’s stock.

Electronic Arts Stock Up 0.9 %

NASDAQ EA traded up $1.15 during trading on Thursday, reaching $122.83. 352,730 shares of the company’s stock were exchanged, compared to its average volume of 2,271,126. The company has a 50 day moving average price of $127.00 and a two-hundred day moving average price of $124.64. The stock has a market cap of $33.28 billion, a P/E ratio of 37.67, a price-to-earnings-growth ratio of 2.61 and a beta of 0.90. Electronic Arts Inc. has a 1 year low of $108.53 and a 1 year high of $140.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.28 and a current ratio of 1.28.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, August 1st. The game software company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.14. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Electronic Arts had a net margin of 11.78% and a return on equity of 19.49%. On average, equities research analysts anticipate that Electronic Arts Inc. will post 5.12 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.62%. Electronic Arts’s payout ratio is 23.53%.

Insider Activity

In related news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $120.00, for a total value of $600,000.00. Following the transaction, the chief executive officer now owns 39,203 shares in the company, valued at approximately $4,704,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Electronic Arts news, COO Laura Miele sold 2,000 shares of Electronic Arts stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $120.59, for a total value of $241,180.00. Following the sale, the chief operating officer now owns 34,586 shares of the company’s stock, valued at approximately $4,170,725.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $120.00, for a total value of $600,000.00. Following the transaction, the chief executive officer now owns 39,203 shares in the company, valued at approximately $4,704,360. The disclosure for this sale can be found here. Insiders have sold 22,604 shares of company stock valued at $2,831,654 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. HSBC initiated coverage on shares of Electronic Arts in a research report on Tuesday, July 25th. They set a “hold” rating and a $128.00 price objective for the company. Stifel Nicolaus raised their price target on shares of Electronic Arts from $144.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Benchmark cut their price objective on Electronic Arts from $159.00 to $153.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd. Robert W. Baird raised their target price on Electronic Arts from $140.00 to $146.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Barclays boosted their price target on Electronic Arts from $130.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 2nd. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.00.

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.