Electronic Arts Inc. (NASDAQ:EA) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its holdings in Electronic Arts Inc. (NASDAQ:EAFree Report) by 1.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 636,937 shares of the game software company’s stock after buying an additional 6,557 shares during the quarter. DAVENPORT & Co LLC’s holdings in Electronic Arts were worth $87,095,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV lifted its stake in shares of Electronic Arts by 23.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 22,867 shares of the game software company’s stock valued at $2,753,000 after purchasing an additional 4,411 shares during the last quarter. Metis Global Partners LLC increased its stake in Electronic Arts by 14.7% in the third quarter. Metis Global Partners LLC now owns 11,473 shares of the game software company’s stock valued at $1,381,000 after acquiring an additional 1,469 shares during the period. Morgan Stanley boosted its position in Electronic Arts by 13.0% in the third quarter. Morgan Stanley now owns 3,389,395 shares of the game software company’s stock valued at $408,084,000 after buying an additional 389,063 shares in the last quarter. Vanguard Group Inc. boosted its position in Electronic Arts by 16.3% in the third quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company’s stock valued at $3,086,621,000 after buying an additional 3,600,388 shares in the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of Electronic Arts by 19.4% during the third quarter. Alps Advisors Inc. now owns 2,750 shares of the game software company’s stock worth $331,000 after purchasing an additional 446 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of NASDAQ EA traded down $1.19 during mid-day trading on Tuesday, reaching $132.15. 2,032,600 shares of the company were exchanged, compared to its average volume of 2,069,757. Electronic Arts Inc. has a twelve month low of $117.47 and a twelve month high of $144.53. The stock has a market capitalization of $35.33 billion, a P/E ratio of 33.29, a P/E/G ratio of 1.96 and a beta of 0.76. The company’s 50-day simple moving average is $137.12 and its 200-day simple moving average is $133.68. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EAGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The game software company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.38). Electronic Arts had a return on equity of 20.58% and a net margin of 14.09%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the business posted $2.29 earnings per share. Electronic Arts’s revenue was up 1.0% compared to the same quarter last year. As a group, research analysts predict that Electronic Arts Inc. will post 5.36 earnings per share for the current year.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.58%. The ex-dividend date was Tuesday, February 27th. Electronic Arts’s dividend payout ratio is currently 19.14%.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $143.24, for a total value of $143,240.00. Following the transaction, the insider now directly owns 20,258 shares of the company’s stock, valued at approximately $2,901,755.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $130.66, for a total transaction of $326,650.00. Following the transaction, the chief executive officer now owns 25,930 shares in the company, valued at $3,388,013.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $143.24, for a total transaction of $143,240.00. Following the transaction, the insider now owns 20,258 shares in the company, valued at approximately $2,901,755.92. The disclosure for this sale can be found here. Insiders have sold a total of 37,144 shares of company stock valued at $5,153,300 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EA shares. Stifel Nicolaus increased their price objective on shares of Electronic Arts from $152.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 18th. BMO Capital Markets started coverage on shares of Electronic Arts in a report on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 price objective on the stock. UBS Group cut their price objective on shares of Electronic Arts from $146.00 to $143.00 and set a “neutral” rating on the stock in a report on Wednesday, March 27th. Wolfe Research started coverage on shares of Electronic Arts in a research note on Tuesday, December 12th. They issued a “peer perform” rating for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $162.00 target price on shares of Electronic Arts in a research note on Wednesday, January 31st. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Read Our Latest Stock Analysis on EA

About Electronic Arts

(Free Report)

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.

See Also

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

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