Acadian Asset Management LLC Sells 283,370 Shares of Electronic Arts Inc. (NASDAQ:EA)

Acadian Asset Management LLC cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 19.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,158,883 shares of the game software company’s stock after selling 283,370 shares during the quarter. Acadian Asset Management LLC’s holdings in Electronic Arts were worth $153,721,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in EA. Jennison Associates LLC boosted its holdings in shares of Electronic Arts by 1.3% in the fourth quarter. Jennison Associates LLC now owns 6,339 shares of the game software company’s stock worth $867,000 after buying an additional 84 shares during the last quarter. Mirador Capital Partners LP boosted its holdings in shares of Electronic Arts by 2.9% in the fourth quarter. Mirador Capital Partners LP now owns 3,264 shares of the game software company’s stock worth $447,000 after buying an additional 91 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Electronic Arts by 4.1% in the fourth quarter. Whittier Trust Co. now owns 2,355 shares of the game software company’s stock worth $322,000 after buying an additional 93 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of Electronic Arts by 36.9% in the fourth quarter. MCF Advisors LLC now owns 356 shares of the game software company’s stock worth $49,000 after buying an additional 96 shares during the last quarter. Finally, Claro Advisors LLC boosted its holdings in shares of Electronic Arts by 5.6% in the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock worth $250,000 after buying an additional 100 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EA shares. Benchmark reaffirmed a “buy” rating and set a $153.00 price target on shares of Electronic Arts in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Electronic Arts from $153.00 to $150.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. BMO Capital Markets lowered their price target on shares of Electronic Arts from $160.00 to $154.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Stifel Nicolaus lifted their price target on shares of Electronic Arts from $163.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup downgraded shares of Electronic Arts from a “buy” rating to a “neutral” rating and lifted their price target for the company from $148.00 to $161.00 in a report on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Electronic Arts presently has a consensus rating of “Moderate Buy” and an average target price of $151.33.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $126.64, for a total transaction of $101,312.00. Following the transaction, the insider now owns 26,283 shares in the company, valued at $3,328,479.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $127.15, for a total value of $127,150.00. Following the completion of the sale, the executive vice president now directly owns 17,426 shares of the company’s stock, valued at $2,215,715.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $126.64, for a total transaction of $101,312.00. Following the completion of the sale, the insider now directly owns 26,283 shares of the company’s stock, valued at $3,328,479.12. The disclosure for this sale can be found here. Insiders have sold 26,039 shares of company stock worth $3,517,006 over the last quarter. Insiders own 0.22% of the company’s stock.

Electronic Arts Price Performance

EA traded down $6.32 during trading hours on Friday, hitting $140.20. The company’s stock had a trading volume of 4,844,732 shares, compared to its average volume of 1,823,123. The business’s 50-day moving average price is $136.98 and its 200-day moving average price is $135.35. Electronic Arts Inc. has a 12 month low of $117.47 and a 12 month high of $148.22. The stock has a market cap of $37.26 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 2.22 and a beta of 0.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.17). Electronic Arts had a return on equity of 18.81% and a net margin of 16.83%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.78 billion. Sell-side analysts expect that Electronic Arts Inc. will post 5.72 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 29th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, May 29th. Electronic Arts’s dividend payout ratio (DPR) is 16.24%.

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.