Electronic Arts Inc. (NASDAQ:EA) Stock Holdings Lifted by DnB Asset Management AS

DnB Asset Management AS lifted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 54.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,161,673 shares of the game software company’s stock after acquiring an additional 408,435 shares during the quarter. Electronic Arts accounts for 0.9% of DnB Asset Management AS’s portfolio, making the stock its 19th largest holding. DnB Asset Management AS owned 0.43% of Electronic Arts worth $150,669,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of EA. Resurgent Financial Advisors LLC acquired a new position in Electronic Arts in the 4th quarter worth approximately $26,000. WealthPLAN Partners LLC purchased a new stake in shares of Electronic Arts in the first quarter valued at $29,000. Neo Ivy Capital Management boosted its position in shares of Electronic Arts by 70.1% in the second quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock worth $31,000 after buying an additional 108 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Electronic Arts during the fourth quarter valued at $33,000. Finally, Compass Wealth Management LLC acquired a new position in Electronic Arts during the fourth quarter valued at $33,000. 90.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $121.55, for a total value of $97,240.00. Following the sale, the insider now directly owns 31,147 shares in the company, valued at approximately $3,785,917.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $121.55, for a total value of $97,240.00. Following the completion of the transaction, the insider now directly owns 31,147 shares of the company’s stock, valued at $3,785,917.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Laura Miele sold 2,000 shares of the firm’s stock in a transaction dated 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 directly owns 34,586 shares in the company, valued at approximately $4,170,725.74. The disclosure for this sale can be found here. Insiders sold a total of 22,604 shares of company stock valued at $2,831,654 over the last three months. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

EA has been the topic of several research reports. Bank of America upped their price objective on shares of Electronic Arts from $135.00 to $145.00 in a research note on Thursday, July 27th. UBS Group lowered Electronic Arts from a “buy” rating to a “neutral” rating and increased their price objective for the company from $140.00 to $142.00 in a report on Wednesday, August 2nd. TheStreet upgraded Electronic Arts from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Stifel Nicolaus boosted their price objective on shares of Electronic Arts from $144.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $150.00 target price on shares of Electronic Arts in a research note on Wednesday, August 2nd. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Electronic Arts Price Performance

Shares of EA traded up $0.90 during mid-day trading on Thursday, hitting $122.58. 375,080 shares of the company traded hands, compared to its average volume of 2,271,348. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $33.21 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 2.61 and a beta of 0.90. The business has a 50-day moving average of $127.00 and a 200 day moving average of $124.64. Electronic Arts Inc. has a one year low of $108.53 and a one year high of $140.30.

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

Electronic Arts Announces Dividend

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

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.