Exchange Traded Concepts LLC Decreases Stake in Electronic Arts Inc. (NASDAQ:EA)

Exchange Traded Concepts LLC lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,297 shares of the game software company’s stock after selling 2,981 shares during the period. Exchange Traded Concepts LLC’s holdings in Electronic Arts were worth $6,627,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Electronic Arts in the third quarter worth $25,000. Pinnacle Bancorp Inc. boosted its holdings in Electronic Arts by 141.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock valued at $29,000 after purchasing an additional 117 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in Electronic Arts during the 3rd quarter worth about $36,000. Bruce G. Allen Investments LLC raised its stake in shares of Electronic Arts by 156.6% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock valued at $39,000 after buying an additional 166 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Electronic Arts by 31.8% in the 3rd quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock valued at $42,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

Electronic Arts stock opened at $116.56 on Friday. The company has a fifty day simple moving average of $152.43 and a 200-day simple moving average of $148.83. The firm has a market capitalization of $30.57 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.87 and a beta of 0.80. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $168.50.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Wednesday, November 27th. Electronic Arts’s payout ratio is currently 19.54%.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $150.83, for a total transaction of $150,830.00. Following the completion of the transaction, the insider now owns 28,190 shares of the company’s stock, valued at approximately $4,251,897.70. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the completion of the sale, the chief executive officer now directly owns 52,615 shares in the company, valued at approximately $8,758,819.05. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,000 shares of company stock worth $3,986,385. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Stifel Nicolaus cut their target price on shares of Electronic Arts from $167.00 to $159.00 and set a “hold” rating for the company in a report on Tuesday. Benchmark reissued a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a report on Wednesday, October 30th. Roth Mkm cut their price objective on shares of Electronic Arts from $158.00 to $134.00 and set a “neutral” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average price target of $159.79.

About Electronic Arts

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.