Commonwealth Equity Services LLC Has $4.60 Million Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Posted by Defense World Staff on Sep 2nd, 2023

Commonwealth Equity Services LLC lifted its stake in shares of Electronic Arts Inc. (NASDAQ:EA – Free Report) by 18.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,177 shares of the game software company’s stock after purchasing an additional 5,876 shares during the period. Commonwealth Equity Services LLC’s holdings in Electronic Arts were worth $4,598,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Electronic Arts by 0.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,574 shares of the game software company’s stock worth $3,080,000 after acquiring an additional 96 shares during the period. O Shaughnessy Asset Management LLC increased its position in Electronic Arts by 1.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,580 shares of the game software company’s stock worth $682,000 after buying an additional 100 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Electronic Arts by 0.5% during the third quarter. Captrust Financial Advisors now owns 23,082 shares of the game software company’s stock worth $2,671,000 after buying an additional 105 shares in the last quarter. Great Lakes Retirement Inc. boosted its position in shares of Electronic Arts by 2.8% in the first quarter. Great Lakes Retirement Inc. now owns 3,876 shares of the game software company’s stock valued at $467,000 after acquiring an additional 106 shares during the period. Finally, Penserra Capital Management LLC grew its stake in shares of Electronic Arts by 7.9% in the fourth quarter. Penserra Capital Management LLC now owns 1,455 shares of the game software company’s stock valued at $176,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 90.42% of the company’s stock.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $124.91, for a total transaction of $624,550.00. Following the sale, the chief executive officer now owns 82,809 shares of the company’s stock, valued at $10,343,672.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $124.91, for a total value of $624,550.00. Following the transaction, the chief executive officer now directly owns 82,809 shares of the company’s stock, valued at $10,343,672.19. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $121.55, for a total transaction of $97,240.00. Following the transaction, the insider now owns 31,147 shares in the company, valued at approximately $3,785,917.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,804 shares of company stock worth $2,493,618. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

EA has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Electronic Arts from $125.00 to $135.00 in a research report on Tuesday, May 16th. Barclays lifted their price objective on Electronic Arts from $130.00 to $133.00 and gave the company an “equal weight” rating in a report on Wednesday, August 2nd. Oppenheimer reissued an “outperform” rating and set a $150.00 target price on shares of Electronic Arts in a report on Wednesday, August 2nd. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price target on shares of Electronic Arts in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Electronic Arts from $144.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $139.64.

Check Out Our Latest Stock Analysis on EA

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $120.54 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.28 and a current ratio of 1.28. Electronic Arts Inc. has a 52 week low of $108.53 and a 52 week high of $140.30. The firm has a market cap of $32.66 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.61 and a beta of 0.87. The firm’s fifty day moving average is $128.39 and its 200-day moving average is $124.02.

Electronic Arts (NASDAQ:EA – Get Free Report) last announced its earnings results on Tuesday, August 1st. The game software company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.61 by $0.14. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.59 billion. Electronic Arts had a return on equity of 19.49% and a net margin of 11.78%. Sell-side analysts predict that Electronic Arts Inc. will post 5.1 earnings per share for the current year.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.76 annualized dividend and a yield of 0.63%. Electronic Arts’s payout ratio is 23.53%.

Electronic Arts Company Profile

(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.