Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in Electronic Arts Inc. (NASDAQ:EAGet Rating) by 34.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 145,603 shares of the game software company’s stock after selling 76,241 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Electronic Arts were worth $18,420,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of EA. Norges Bank acquired a new stake in Electronic Arts in the 4th quarter valued at about $218,333,000. Robeco Institutional Asset Management B.V. lifted its holdings in Electronic Arts by 60.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,474,669 shares of the game software company’s stock valued at $186,559,000 after acquiring an additional 557,935 shares during the last quarter. Pictet Asset Management SA lifted its holdings in Electronic Arts by 84.0% in the 4th quarter. Pictet Asset Management SA now owns 1,186,652 shares of the game software company’s stock valued at $156,519,000 after acquiring an additional 541,858 shares during the last quarter. BlackRock Inc. lifted its holdings in Electronic Arts by 1.9% in the 4th quarter. BlackRock Inc. now owns 23,528,573 shares of the game software company’s stock valued at $3,103,418,000 after acquiring an additional 436,684 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in Electronic Arts during the first quarter valued at about $31,495,000. 89.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Chris Bruzzo sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $128.39, for a total transaction of $256,780.00. Following the transaction, the insider now owns 27,524 shares in the company, valued at $3,533,806.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Chris Bruzzo sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $128.39, for a total value of $256,780.00. Following the completion of the sale, the insider now directly owns 27,524 shares of the company’s stock, valued at $3,533,806.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $120.90, for a total value of $96,720.00. Following the completion of the sale, the insider now directly owns 28,514 shares of the company’s stock, valued at $3,447,342.60. The disclosure for this sale can be found here. Insiders have sold a total of 58,895 shares of company stock worth $7,692,454 over the last 90 days. Insiders own 0.37% of the company’s stock.

Electronic Arts Trading Up 3.4 %

NASDAQ:EA opened at $133.28 on Thursday. The stock’s 50 day moving average price is $129.91 and its 200 day moving average price is $128.32. Electronic Arts Inc. has a 52 week low of $109.24 and a 52 week high of $147.76. The company has a market capitalization of $37.26 billion, a P/E ratio of 48.29, a P/E/G ratio of 2.13 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.18 and a current ratio of 1.18.

Electronic Arts (NASDAQ:EAGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The game software company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.22). Electronic Arts had a return on equity of 18.99% and a net margin of 11.29%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, research analysts forecast that Electronic Arts Inc. will post 5.49 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.57%. Electronic Arts’s dividend payout ratio (DPR) is presently 27.54%.

Analyst Upgrades and Downgrades

A number of analysts have commented on EA shares. Robert W. Baird reduced their price objective on shares of Electronic Arts from $165.00 to $140.00 in a research note on Wednesday, May 11th. Sanford C. Bernstein started coverage on shares of Electronic Arts in a research note on Friday, April 22nd. They set an “outperform” rating and a $157.00 price objective for the company. Barclays upped their price objective on shares of Electronic Arts from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 19th. Morgan Stanley reduced their price objective on shares of Electronic Arts from $150.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, June 13th. Finally, Truist Financial reduced their price objective on shares of Electronic Arts to $154.00 and set a “buy” rating for the company in a research note on Sunday. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and a consensus target price of $153.70.

Electronic Arts Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EAGet Rating).

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

Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.