AlTi Global Inc. Trims Holdings in Electronic Arts Inc. (NASDAQ:EA)

AlTi Global Inc. lessened its stake in Electronic Arts Inc. (NASDAQ:EA) by 55.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,539 shares of the game software company’s stock after selling 15,407 shares during the period. AlTi Global Inc.’s holdings in Electronic Arts were worth $1,747,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. NBW Capital LLC raised its stake in Electronic Arts by 2.0% during the second quarter. NBW Capital LLC now owns 35,617 shares of the game software company’s stock valued at $4,963,000 after buying an additional 701 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Electronic Arts by 132.9% during the 2nd quarter. Squarepoint Ops LLC now owns 116,458 shares of the game software company’s stock valued at $16,226,000 after acquiring an additional 66,449 shares in the last quarter. Distillate Capital Partners LLC acquired a new stake in shares of Electronic Arts during the 2nd quarter valued at approximately $15,582,000. Providence Capital Advisors LLC boosted its holdings in Electronic Arts by 0.5% in the second quarter. Providence Capital Advisors LLC now owns 43,315 shares of the game software company’s stock worth $6,035,000 after purchasing an additional 200 shares during the period. Finally, Davidson Kempner Capital Management LP bought a new stake in Electronic Arts during the second quarter valued at $20,068,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

EA opened at $141.48 on Thursday. The business has a 50 day moving average price of $145.86 and a two-hundred day moving average price of $137.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $37.38 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 1.91 and a beta of 0.79. Electronic Arts Inc. has a 1-year low of $117.47 and a 1-year high of $153.51.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. Research analysts predict that Electronic Arts Inc. will post 5.93 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.54%. Electronic Arts’s payout ratio is currently 16.24%.

Insider Activity at Electronic Arts

In other news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $146.58, for a total transaction of $219,870.00. Following the completion of the sale, the executive vice president now directly owns 26,360 shares of the company’s stock, valued at approximately $3,863,848.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.71, for a total value of $111,768.00. Following the completion of the sale, the insider now owns 38,574 shares in the company, valued at approximately $5,389,173.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $146.58, for a total transaction of $219,870.00. Following the completion of the transaction, the executive vice president now directly owns 26,360 shares of the company’s stock, valued at approximately $3,863,848.80. The disclosure for this sale can be found here. Insiders sold a total of 24,570 shares of company stock valued at $3,621,343 over the last ninety days. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EA shares. Raymond James raised their price target on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Roth Mkm reissued a “neutral” rating and issued a $154.00 target price on shares of Electronic Arts in a report on Thursday, September 19th. StockNews.com raised Electronic Arts from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Benchmark reissued a “buy” rating and issued a $163.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. Finally, Bank of America upped their price objective on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.94.

About Electronic Arts

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.