Arrowstreet Capital Limited Partnership Buys 596,141 Shares of Electronic Arts Inc. (NASDAQ:EA)

Arrowstreet Capital Limited Partnership lifted its stake in Electronic Arts Inc. (NASDAQ:EA) by 591.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 696,861 shares of the game software company’s stock after acquiring an additional 596,141 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.27% of Electronic Arts worth $101,951,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EA. Los Angeles Capital Management LLC grew its position in shares of Electronic Arts by 353.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,269,258 shares of the game software company’s stock valued at $185,692,000 after acquiring an additional 989,319 shares during the period. Norges Bank acquired a new stake in Electronic Arts in the 4th quarter valued at about $96,698,000. Robeco Institutional Asset Management B.V. grew its holdings in Electronic Arts by 51.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock worth $160,893,000 after purchasing an additional 373,730 shares during the period. Teacher Retirement System of Texas increased its position in Electronic Arts by 165.7% during the fourth quarter. Teacher Retirement System of Texas now owns 417,817 shares of the game software company’s stock worth $61,127,000 after buying an additional 260,567 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Electronic Arts in the fourth quarter valued at approximately $34,334,000. Institutional investors own 90.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on EA. Wedbush reissued an “outperform” rating and set a $173.00 target price on shares of Electronic Arts in a report on Thursday, January 23rd. Benchmark increased their price objective on shares of Electronic Arts from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, March 24th. Oppenheimer reduced their target price on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, January 21st. Roth Mkm lowered their price target on shares of Electronic Arts from $158.00 to $134.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Finally, Raymond James cut Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Electronic Arts has an average rating of “Hold” and a consensus target price of $155.65.

Electronic Arts Price Performance

Electronic Arts stock opened at $144.52 on Tuesday. The firm has a market cap of $37.66 billion, a P/E ratio of 36.77, a P/E/G ratio of 3.58 and a beta of 0.78. The stock’s 50 day moving average is $133.10 and its 200 day moving average is $144.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. As a group, research analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Wednesday, February 26th. Electronic Arts’s dividend payout ratio (DPR) is presently 19.34%.

Insider Activity

In related news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $142.68, for a total transaction of $713,400.00. Following the transaction, the chief executive officer now owns 42,615 shares in the company, valued at $6,080,308.20. The trade was a 10.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $147.57, for a total transaction of $147,570.00. Following the completion of the sale, the insider now owns 29,216 shares of the company’s stock, valued at $4,311,405.12. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock valued at $3,018,560 in the last ninety days. 0.22% of the stock is owned by company insiders.

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.