Electronic Arts Inc. (NASDAQ:EA) Shares Sold by Summit Global Investments

Summit Global Investments lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 56.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,713 shares of the game software company's stock after selling 11,179 shares during the period. Summit Global Investments' holdings in Electronic Arts were worth $1,250,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EA. Opal Wealth Advisors LLC bought a new stake in Electronic Arts during the second quarter valued at about $28,000. Family Firm Inc. purchased a new position in shares of Electronic Arts in the second quarter worth about $33,000. Reston Wealth Management LLC purchased a new position in Electronic Arts during the third quarter valued at approximately $36,000. Gradient Investments LLC raised its position in Electronic Arts by 592.1% during the second quarter. Gradient Investments LLC now owns 263 shares of the game software company's stock valued at $37,000 after acquiring an additional 225 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new stake in Electronic Arts in the first quarter valued at approximately $35,000. Institutional investors own 90.23% of the company's stock.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total value of $353,750.00. Following the sale, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total transaction of $353,750.00. Following the sale, the chief executive officer now owns 54,247 shares in the company, valued at approximately $7,675,950.50. This represents a 0.00 % decrease in their position. The sale 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 stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the sale, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,144 shares of company stock valued at $3,886,282. Corporate insiders own 0.22% of the company's stock.

Electronic Arts Stock Performance

EA traded down $2.09 on Friday, hitting $157.91. 1,391,991 shares of the company traded hands, compared to its average volume of 1,801,187. The company has a 50 day moving average of $145.66 and a 200-day moving average of $141.24. The company has a quick ratio of 1.45, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $41.42 billion, a PE ratio of 40.59, a PEG ratio of 2.06 and a beta of 0.78. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $160.31.

Electronic Arts Dividend Announcement

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 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts's dividend payout ratio is presently 19.54%.

Wall Street Analyst Weigh In

Several analysts have commented on EA shares. StockNews.com raised Electronic Arts from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on Electronic Arts from $155.00 to $150.00 and set a "neutral" rating on the stock 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 company a "neutral" rating in a research report on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on Electronic Arts from $165.00 to $167.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets reissued an "outperform" rating and set a $160.00 target price (up from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.37.

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.