Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Summit Global Investments

Summit Global Investments lessened its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 56.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 8,713 shares of the game software company’s stock after selling 11,179 shares during the period. Summit Global Investments’ holdings in Electronic Arts were worth $1,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JB Capital LLC boosted its position in shares of Electronic Arts by 2.1% during the 3rd quarter. JB Capital LLC now owns 21,685 shares of the game software company’s stock valued at $3,111,000 after acquiring an additional 444 shares during the last quarter. Montecito Bank & Trust raised its holdings in Electronic Arts by 65.9% in the 3rd quarter. Montecito Bank & Trust now owns 4,014 shares of the game software company’s stock valued at $576,000 after buying an additional 1,595 shares during the period. Graypoint LLC raised its holdings in Electronic Arts by 5.6% in the 3rd quarter. Graypoint LLC now owns 2,721 shares of the game software company’s stock valued at $390,000 after buying an additional 145 shares during the period. Greenwood Capital Associates LLC purchased a new stake in Electronic Arts in the 3rd quarter valued at about $5,597,000. Finally, QRG Capital Management Inc. raised its holdings in Electronic Arts by 1.2% in the 3rd quarter. QRG Capital Management Inc. now owns 31,361 shares of the game software company’s stock valued at $4,498,000 after buying an additional 366 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Down 1.3 %

EA opened at $157.91 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The firm has a market cap of $41.42 billion, a P/E ratio of 40.59, a PEG ratio of 2.00 and a beta of 0.78. Electronic Arts Inc. has a 52 week low of $124.92 and a 52 week high of $160.31. The business’s fifty day simple moving average is $145.66 and its 200 day simple moving average is $141.24.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $148.88, for a total value of $372,200.00. Following the transaction, the chief executive officer now directly owns 56,747 shares of the company’s stock, valued at $8,448,493.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $150.83, for a total transaction of $150,830.00. Following the sale, the insider now directly owns 28,190 shares in the company, valued at approximately $4,251,897.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $148.88, for a total value of $372,200.00. Following the sale, the chief executive officer now owns 56,747 shares in the company, valued at $8,448,493.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,144 shares of company stock valued at $3,886,282. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EA. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and boosted their price objective for the company from $135.00 to $177.00 in a report on Thursday, October 31st. BMO Capital Markets restated an “outperform” rating and issued a $160.00 price objective (up from $154.00) on shares of Electronic Arts in a report on Wednesday, October 30th. Argus boosted their price target on shares of Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group boosted their price target on shares of Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Bank of America boosted their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average price target of $165.37.

Electronic Arts Company Profile

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.