Adage Capital Partners GP L.L.C. Sells 3,700 Shares of Electronic Arts Inc. (NASDAQ:EA)

Adage Capital Partners GP L.L.C. reduced its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,966 shares of the game software company's stock after selling 3,700 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.09% of Electronic Arts worth $32,620,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC boosted its holdings in shares of Electronic Arts by 353.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,269,258 shares of the game software company's stock worth $185,692,000 after buying an additional 989,319 shares during the period. FMR LLC grew its position in Electronic Arts by 224.8% during the 4th quarter. FMR LLC now owns 1,207,854 shares of the game software company's stock worth $176,709,000 after purchasing an additional 835,985 shares in the last quarter. Norges Bank acquired a new stake in Electronic Arts during the 4th quarter valued at $96,698,000. Capital International Investors boosted its position in shares of Electronic Arts by 5.2% in the fourth quarter. Capital International Investors now owns 12,156,791 shares of the game software company's stock worth $1,778,553,000 after buying an additional 605,796 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Electronic Arts by 591.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 696,861 shares of the game software company's stock valued at $101,951,000 after buying an additional 596,141 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Trading Up 0.3 %

NASDAQ EA traded up $0.41 on Friday, reaching $146.60. The company had a trading volume of 1,836,648 shares, compared to its average volume of 2,650,466. The stock has a market cap of $38.21 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 3.58 and a beta of 0.79. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The stock's 50 day moving average is $139.36 and its 200-day moving average is $144.48. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share 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%. Equities analysts predict that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a $0.19 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.76 dividend on an annualized basis and a yield of 0.52%. Electronic Arts's payout ratio is 19.34%.

Insider Buying and Selling

In other news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $145.65, for a total value of $218,475.00. Following the sale, the executive vice president now directly owns 19,033 shares in the company, valued at $2,772,156.45. This trade represents a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the business's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $145.37, for a total transaction of $726,850.00. Following the completion of the sale, the chief executive officer now directly owns 27,615 shares in the company, valued at approximately $4,014,392.55. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,000 shares of company stock valued at $3,032,740. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Benchmark upped their target price on Electronic Arts from $140.00 to $160.00 and gave the company a "buy" rating in a report on Monday, March 24th. Bank of America boosted their price target on shares of Electronic Arts from $130.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Raymond James downgraded Electronic Arts from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 23rd. Wedbush reiterated an "outperform" rating and set a $173.00 price target on shares of Electronic Arts in a report on Thursday, January 23rd. Finally, Stifel Nicolaus dropped their price target on shares of Electronic Arts from $167.00 to $159.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $154.22.

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.