Telemark Asset Management LLC Takes $7.17 Million Position in Electronic Arts Inc. (NASDAQ:EA)

Telemark Asset Management LLC acquired a new position in Electronic Arts Inc. (NASDAQ:EA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 50,000 shares of the game software company’s stock, valued at approximately $7,172,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in Electronic Arts by 496.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock valued at $333,169,000 after purchasing an additional 2,090,504 shares during the period. Swedbank AB purchased a new stake in Electronic Arts in the 1st quarter worth approximately $201,935,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Electronic Arts during the 1st quarter worth approximately $189,055,000. Manning & Napier Advisors LLC acquired a new stake in shares of Electronic Arts during the 2nd quarter worth approximately $188,159,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Electronic Arts by 43.3% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock valued at $193,727,000 after purchasing an additional 420,382 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In other news, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $148.88, for a total transaction of $372,200.00. Following the sale, the chief executive officer now owns 56,747 shares of the company’s stock, valued at approximately $8,448,493.36. The trade was a 4.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 7,384 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the sale, the insider now directly owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. This trade represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,384 shares of company stock worth $4,776,635 in the last three months. 0.22% of the stock is owned by corporate insiders.

Electronic Arts Trading Up 0.8 %

Shares of Electronic Arts stock opened at $168.08 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. The stock’s 50 day simple moving average is $148.94 and its 200-day simple moving average is $143.49. The stock has a market cap of $44.08 billion, a P/E ratio of 43.21, a P/E/G ratio of 2.17 and a beta of 0.78. Electronic Arts Inc. has a 1-year low of $124.92 and a 1-year high of $168.07.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s dividend payout ratio (DPR) is currently 19.54%.

Analysts Set New Price Targets

Several analysts recently commented on EA shares. Stifel Nicolaus raised their price target on shares of Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and increased their target price for the stock from $135.00 to $177.00 in a research note on Thursday, October 31st. BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $160.00 price target on shares of Electronic Arts in a research report on Wednesday, September 18th. Finally, TD Cowen boosted their price objective on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.37.

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.