Chesapeake Capital Corp IL Buys New Position in Electronic Arts Inc. (NASDAQ:EA)

Chesapeake Capital Corp IL acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,626 shares of the game software company's stock, valued at approximately $950,000. Electronic Arts accounts for about 0.9% of Chesapeake Capital Corp IL's holdings, making the stock its 22nd biggest position.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Electronic Arts by 14.7% during the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company's stock valued at $3,868,620,000 after purchasing an additional 3,727,251 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Electronic Arts by 496.9% in 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 last quarter. Swedbank AB acquired a new stake in Electronic Arts during the 1st quarter valued at approximately $201,935,000. Jericho Capital Asset Management L.P. purchased a new stake in Electronic Arts during the 1st quarter worth approximately $189,055,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Electronic Arts in the 2nd quarter valued at approximately $188,159,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EA. Benchmark reaffirmed a "buy" rating and set a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, October 30th. UBS Group lifted their target price on Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their target price on Electronic Arts from $165.00 to $167.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. DZ Bank upgraded Electronic Arts from a "hold" rating to a "buy" rating and lifted their target price for the stock from $135.00 to $177.00 in a research report on Thursday, October 31st. Finally, TD Cowen lifted their target price on Electronic Arts from $163.00 to $183.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $165.37.

Insider Activity at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,260 shares of the company's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $148.37, for a total value of $186,946.20. Following the transaction, the chief financial officer now directly owns 7,553 shares of the company's stock, valued at $1,120,638.61. This represents a 14.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total value of $395,075.00. Following the completion of the transaction, the insider now directly owns 50,433 shares in the company, valued at approximately $7,969,926.99. The trade was a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,144 shares of company stock valued at $3,886,282. Company insiders own 0.22% of the company's stock.

Electronic Arts Price Performance

Shares of NASDAQ EA traded down $2.76 during mid-day trading on Friday, reaching $161.36. The company had a trading volume of 2,036,594 shares, compared to its average volume of 1,966,724. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The stock has a market cap of $42.32 billion, a PE ratio of 41.48, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a 50-day moving average price of $147.17 and a two-hundred day moving average price of $142.65. Electronic Arts Inc. has a 1-year low of $124.92 and a 1-year high of $164.42.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.47%. The ex-dividend date is Wednesday, November 27th. Electronic Arts's payout ratio is 19.54%.

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.