Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its position in shares of Electronic Arts Inc. (NASDAQ:EAGet Rating) by 34.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,085 shares of the game software company’s stock after selling 2,678 shares during the period. Pitcairn Co.’s holdings in Electronic Arts were worth $643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EA. Kentucky Retirement Systems boosted its stake in Electronic Arts by 5.3% during the first quarter. Kentucky Retirement Systems now owns 17,925 shares of the game software company’s stock valued at $2,268,000 after buying an additional 897 shares in the last quarter. First Merchants Corp grew its holdings in Electronic Arts by 12.7% in the 1st quarter. First Merchants Corp now owns 1,730 shares of the game software company’s stock valued at $219,000 after buying an additional 195 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in Electronic Arts in the 1st quarter valued at approximately $1,323,000. Pendal Group Ltd grew its holdings in Electronic Arts by 46.7% in the 1st quarter. Pendal Group Ltd now owns 5,699 shares of the game software company’s stock valued at $721,000 after buying an additional 1,813 shares during the last quarter. Finally, abrdn plc grew its holdings in shares of Electronic Arts by 1.5% during the 1st quarter. abrdn plc now owns 106,198 shares of the game software company’s stock worth $13,587,000 after purchasing an additional 1,538 shares in the last quarter. 90.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Electronic Arts

In other news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $131.26, for a total transaction of $105,008.00. Following the completion of the transaction, the insider now directly owns 29,314 shares in the company, valued at approximately $3,847,755.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $131.26, for a total value of $105,008.00. Following the completion of the transaction, the insider now directly owns 29,314 shares in the company, valued at $3,847,755.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacob J. Schatz sold 6,816 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $132.52, for a total transaction of $903,256.32. Following the completion of the transaction, the insider now owns 17,251 shares of the company’s stock, valued at $2,286,102.52. The disclosure for this sale can be found here. Insiders have sold 86,328 shares of company stock valued at $11,161,321 in the last 90 days. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EA shares. StockNews.com raised Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Truist Financial dropped their price objective on Electronic Arts to $154.00 and set a “buy” rating on the stock in a research note on Sunday, July 31st. Credit Suisse Group decreased their target price on Electronic Arts from $159.00 to $154.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 3rd. Raymond James reduced their price target on Electronic Arts from $158.00 to $150.00 in a research report on Wednesday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Electronic Arts from $165.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Electronic Arts presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.91.

Electronic Arts Trading Down 2.3 %

Shares of EA stock opened at $126.47 on Wednesday. The company’s fifty day simple moving average is $128.12 and its two-hundred day simple moving average is $127.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 1.24. Electronic Arts Inc. has a 1 year low of $109.24 and a 1 year high of $147.76. The stock has a market capitalization of $35.16 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 4.00 and a beta of 0.84.

Electronic Arts Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 0.60%. Electronic Arts’s payout ratio is 24.05%.

About Electronic Arts

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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.

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

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