Baker Avenue Asset Management LP Has $39.49 Million Stock Position in Electronic Arts Inc. $EA

Baker Avenue Asset Management LP lessened its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,266 shares of the game software company’s stock after selling 30,272 shares during the quarter. Electronic Arts comprises about 1.1% of Baker Avenue Asset Management LP’s investment portfolio, making the stock its 22nd largest position. Baker Avenue Asset Management LP owned approximately 0.10% of Electronic Arts worth $39,488,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. California Public Employees Retirement System raised its holdings in Electronic Arts by 46.3% during the 2nd quarter. California Public Employees Retirement System now owns 1,748,379 shares of the game software company’s stock worth $279,216,000 after purchasing an additional 553,639 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Electronic Arts by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 106,017 shares of the game software company’s stock worth $16,931,000 after buying an additional 410 shares during the period. Jump Financial LLC bought a new stake in shares of Electronic Arts during the second quarter worth approximately $2,323,000. Diametric Capital LP acquired a new position in Electronic Arts in the second quarter valued at approximately $610,000. Finally, Amundi boosted its stake in Electronic Arts by 17.2% in the second quarter. Amundi now owns 1,981,512 shares of the game software company’s stock valued at $311,157,000 after acquiring an additional 291,163 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Insider Transactions at Electronic Arts

In other news, Director Jeff Huber sold 79,381 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $201.17, for a total transaction of $15,969,075.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stuart Canfield sold 6,500 shares of Electronic Arts stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the completion of the sale, the chief financial officer owned 5,140 shares in the company, valued at $1,045,476. This trade represents a 55.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 134,869 shares of company stock worth $26,878,477. Insiders own 0.24% of the company’s stock.

Electronic Arts Stock Up 0.2%

Shares of EA stock opened at $203.92 on Monday. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $204.01. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $201.10 and a 200-day moving average of $174.43. The company has a market capitalization of $51.00 billion, a price-to-earnings ratio of 59.63, a P/E/G ratio of 2.45 and a beta of 0.76.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.88 billion. Electronic Arts had a return on equity of 15.30% and a net margin of 12.14%.Electronic Arts’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share. As a group, equities research analysts predict that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd will be paid a $0.19 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s payout ratio is presently 22.22%.

Wall Street Analyst Weigh In

Several brokerages have commented on EA. DA Davidson upped their target price on shares of Electronic Arts from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. HSBC downgraded Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 price objective for the company. in a report on Monday, September 29th. Citigroup raised their target price on Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Oppenheimer lowered Electronic Arts from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 30th. Finally, Hsbc Global Res cut Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Four investment analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Electronic Arts presently has an average rating of “Hold” and a consensus price target of $181.21.

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.