Absolute Gestao de Investimentos Ltda. Sells 329,539 Shares of Electronic Arts Inc. $EA

Absolute Gestao de Investimentos Ltda. lowered its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 49.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 336,934 shares of the game software company’s stock after selling 329,539 shares during the period. Electronic Arts makes up about 7.8% of Absolute Gestao de Investimentos Ltda.’s holdings, making the stock its 4th biggest position. Absolute Gestao de Investimentos Ltda. owned 0.13% of Electronic Arts worth $68,691,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after buying an additional 294 shares during the period. Empowered Funds LLC grew its stake in Electronic Arts by 167.0% in the first quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after acquiring an additional 12,076 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Electronic Arts by 150.8% during the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after acquiring an additional 190 shares in the last quarter. Jump Financial LLC bought a new stake in Electronic Arts during the 2nd quarter valued at $2,323,000. Finally, NewEdge Advisors LLC increased its position in shares of Electronic Arts by 96.4% during the second quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after acquiring an additional 1,505 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Performance

NASDAQ EA opened at $209.08 on Friday. Electronic Arts Inc. has a 52-week low of $146.97 and a 52-week high of $209.34. The company has a 50-day simple moving average of $204.25 and a 200 day simple moving average of $202.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $52.43 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts’s payout ratio is currently 21.78%.

Insider Buying and Selling at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the transaction, the insider owned 26,360 shares in the company, valued at $5,351,080. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the sale, the chief financial officer directly owned 25,991 shares in the company, valued at approximately $5,233,547.76. This trade represents a 5.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 31,206 shares of company stock valued at $6,292,058. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EA shares. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Wall Street Zen raised Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Citigroup increased their price target on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Two analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $196.64.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.