Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. trimmed its stake in Electronic Arts Inc. (NASDAQ:EA) by 1.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,680 shares of the game software company’s stock after selling 171 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Electronic Arts were worth $1,543,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Putney Financial Group LLC bought a new stake in shares of Electronic Arts during the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Electronic Arts during the first quarter valued at about $28,000. LGT Financial Advisors LLC bought a new stake in Electronic Arts in the fourth quarter worth about $33,000. Millstone Evans Group LLC bought a new stake in Electronic Arts in the fourth quarter worth about $37,000. Finally, American National Bank & Trust bought a new stake in Electronic Arts in the first quarter worth about $40,000. 90.23% of the stock is currently owned by institutional investors.

Insider Transactions at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $145.65, for a total value of $218,475.00. Following the completion of the transaction, the executive vice president directly owned 19,033 shares in the company, valued at approximately $2,772,156.45. This represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $155.57, for a total value of $388,925.00. Following the completion of the transaction, the insider owned 40,189 shares of the company’s stock, valued at $6,252,202.73. The trade was a 5.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,729 shares of company stock valued at $4,784,679. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on EA shares. The Goldman Sachs Group boosted their price objective on Electronic Arts from $135.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Oppenheimer lifted their target price on Electronic Arts from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. UBS Group lifted their target price on Electronic Arts from $152.00 to $167.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Benchmark boosted their price target on Electronic Arts from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, HSBC raised Electronic Arts from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Wednesday, May 7th. Fourteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $155.35 on Friday. The business has a fifty day simple moving average of $150.47 and a 200 day simple moving average of $142.43. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $39.03 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.13 and a beta of 0.73. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were paid a $0.19 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.49%. Electronic Arts’s payout ratio is 17.92%.

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.