Acadian Asset Management LLC Sells 192,404 Shares of Electronic Arts Inc. (NASDAQ:EA)

Acadian Asset Management LLC lessened its stake in Electronic Arts Inc. (NASDAQ:EA) by 16.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 966,479 shares of the game software company’s stock after selling 192,404 shares during the period. Acadian Asset Management LLC’s holdings in Electronic Arts were worth $134,630,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EA. North Star Investment Management Corp. increased its holdings in Electronic Arts by 333.3% in the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after buying an additional 150 shares during the period. Cape Investment Advisory Inc. increased its stake in Electronic Arts by 102.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock valued at $27,000 after acquiring an additional 101 shares during the period. Redmont Wealth Advisors LLC bought a new stake in Electronic Arts in the first quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new position in Electronic Arts in the second quarter worth about $28,000. Finally, Private Wealth Management Group LLC acquired a new stake in Electronic Arts during the fourth quarter valued at approximately $31,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EA. Robert W. Baird increased their target price on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com upgraded Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Bank of America boosted their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus increased their target price on shares of Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley lifted their price target on shares of Electronic Arts from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Electronic Arts presently has an average rating of “Moderate Buy” and a consensus price target of $161.28.

Electronic Arts Stock Down 1.3 %

NASDAQ EA opened at $144.01 on Friday. The stock has a market capitalization of $38.27 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $153.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a fifty day moving average of $145.65 and a 200-day moving average of $137.53.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 annualized dividend and a yield of 0.53%. Electronic Arts’s dividend payout ratio is currently 16.24%.

Insider Buying and Selling at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total transaction of $151,700.00. Following the completion of the sale, the insider now owns 30,190 shares in the company, valued at approximately $4,579,823. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.32, for a total value of $223,980.00. Following the completion of the sale, the executive vice president now owns 27,860 shares in the company, valued at $4,160,055.20. The transaction was disclosed in a 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 dated Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total value of $151,700.00. Following the transaction, the insider now owns 30,190 shares in the company, valued at approximately $4,579,823. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,070 shares of company stock worth $3,963,638. Company insiders own 0.22% of the company’s stock.

Electronic Arts 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.