Perigon Wealth Management LLC Sells 195 Shares of Electronic Arts Inc. (NASDAQ:EA)

Posted by Defense World Staff on Jul 31st, 2023

Perigon Wealth Management LLC lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,861 shares of the game software company’s stock after selling 195 shares during the quarter. Perigon Wealth Management LLC’s holdings in Electronic Arts were worth $465,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Resurgent Financial Advisors LLC purchased a new position in shares of Electronic Arts during the 4th quarter valued at about $26,000. Neo Ivy Capital Management boosted its holdings in Electronic Arts by 70.1% in the 2nd quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock worth $31,000 after buying an additional 108 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Electronic Arts during the 4th quarter worth approximately $33,000. Compass Wealth Management LLC acquired a new position in shares of Electronic Arts during the 4th quarter worth approximately $33,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Electronic Arts during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 88.65% of the company’s stock.

Insider Activity at Electronic Arts

In other Electronic Arts news, COO Laura Miele sold 1,500 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $128.00, for a total value of $192,000.00. Following the completion of the sale, the chief operating officer now directly owns 38,586 shares of the company’s stock, valued at approximately $4,939,008. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $124.91, for a total transaction of $624,550.00. Following the completion of the transaction, the chief executive officer now directly owns 82,809 shares of the company’s stock, valued at approximately $10,343,672.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Laura Miele sold 1,500 shares of Electronic Arts stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $128.00, for a total transaction of $192,000.00. Following the transaction, the chief operating officer now directly owns 38,586 shares of the company’s stock, valued at $4,939,008. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,399 shares of company stock worth $3,448,323. 0.20% of the stock is owned by insiders.

Electronic Arts Stock Up 0.2 %

Shares of NASDAQ:EA opened at $137.85 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $37.51 billion, a PE ratio of 48.03, a price-to-earnings-growth ratio of 5.02 and a beta of 0.85. Electronic Arts Inc. has a 52 week low of $108.53 and a 52 week high of $140.30. The firm has a 50 day simple moving average of $130.49 and a 200 day simple moving average of $123.90.

Electronic Arts (NASDAQ:EA – Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The game software company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $1.31 by ($1.35). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.73 billion. Electronic Arts had a net margin of 10.80% and a return on equity of 16.42%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 EPS. As a group, research analysts expect that Electronic Arts Inc. will post 5.03 earnings per share for the current year.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.76 dividend on an annualized basis and a yield of 0.55%. Electronic Arts’s payout ratio is presently 26.48%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Electronic Arts from $135.00 to $145.00 in a research report on Wednesday, May 10th. Barclays boosted their target price on Electronic Arts from $124.00 to $130.00 in a research report on Wednesday, May 10th. Robert W. Baird increased their price objective on Electronic Arts from $125.00 to $145.00 in a research note on Wednesday, May 10th. BMO Capital Markets cut Electronic Arts from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $150.00 to $125.00 in a research note on Thursday, April 27th. Finally, Benchmark increased their price objective on Electronic Arts from $150.00 to $159.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus target price of $139.09.

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.