Electronic Arts Inc. (NASDAQ:EA) Stock Holdings Lessened by Perpetual Ltd

Posted by Defense World Staff on Sep 25th, 2023

Perpetual Ltd trimmed its stake in Electronic Arts Inc. (NASDAQ:EA – Free Report) by 96.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,953 shares of the game software company’s stock after selling 119,974 shares during the quarter. Perpetual Ltd’s holdings in Electronic Arts were worth $513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EA. Greenleaf Trust raised its stake in Electronic Arts by 2.7% during the 1st quarter. Greenleaf Trust now owns 3,450 shares of the game software company’s stock valued at $416,000 after purchasing an additional 91 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Electronic Arts by 0.4% during the 1st 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 grew its stake 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 valued at $682,000 after acquiring an additional 100 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Electronic Arts by 0.5% in the 3rd quarter. Captrust Financial Advisors now owns 23,082 shares of the game software company’s stock valued at $2,671,000 after purchasing an additional 105 shares during the period. Finally, Great Lakes Retirement Inc. boosted its holdings in shares of Electronic Arts by 2.8% during the first quarter. Great Lakes Retirement Inc. now owns 3,876 shares of the game software company’s stock worth $467,000 after purchasing an additional 106 shares during the period. 90.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $136.60, for a total value of $683,000.00. Following the sale, the chief executive officer now owns 77,809 shares of the company’s stock, valued at approximately $10,628,709.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $122.34, for a total value of $122,340.00. Following the transaction, the insider now directly owns 22,922 shares of the company’s stock, valued at approximately $2,804,277.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $136.60, for a total value of $683,000.00. Following the sale, the chief executive officer now directly owns 77,809 shares of the company’s stock, valued at $10,628,709.40. The disclosure for this sale can be found here. Insiders sold a total of 18,604 shares of company stock worth $2,329,444 over the last quarter. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EA shares. UBS Group lowered Electronic Arts from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $140.00 to $142.00 in a report on Wednesday, August 2nd. Robert W. Baird lifted their price target on Electronic Arts from $140.00 to $146.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Oppenheimer restated an “outperform” rating and issued a $150.00 price objective on shares of Electronic Arts in a report on Wednesday, August 2nd. HSBC assumed coverage on shares of Electronic Arts in a research note on Tuesday, July 25th. They set a “hold” rating and a $128.00 price target on the stock. Finally, Bank of America lifted their price objective on shares of Electronic Arts from $135.00 to $145.00 in a research note on Thursday, July 27th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.43.

Read Our Latest Stock Analysis on EA

Electronic Arts Price Performance

Shares of EA stock opened at $119.00 on Monday. The company has a market capitalization of $32.24 billion, a P/E ratio of 36.84, a P/E/G ratio of 2.57 and a beta of 0.90. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.26. Electronic Arts Inc. has a 12 month low of $108.53 and a 12 month high of $140.30. The stock has a 50 day moving average of $125.12 and a two-hundred day moving average of $125.15.

Electronic Arts (NASDAQ:EA – Get Free Report) last issued 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. Electronic Arts had a return on equity of 19.49% and a net margin of 11.78%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. As a group, equities analysts expect that Electronic Arts Inc. will post 5.11 EPS for the current year.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, August 29th. Electronic Arts’s dividend payout ratio (DPR) is presently 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.