Wells Fargo & Company MN Sells 65,501 Shares of Electronic Arts Inc. (NASDAQ:EA)

Wells Fargo & Company MN cut its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 666,097 shares of the game software company's stock after selling 65,501 shares during the period. Wells Fargo & Company MN owned approximately 0.26% of Electronic Arts worth $97,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Claro Advisors LLC lifted its position in shares of Electronic Arts by 3.4% in the fourth quarter. Claro Advisors LLC now owns 2,285 shares of the game software company's stock worth $334,000 after purchasing an additional 75 shares in the last quarter. Intrust Bank NA lifted its position in Electronic Arts by 3.3% during the 4th quarter. Intrust Bank NA now owns 2,475 shares of the game software company's stock worth $362,000 after buying an additional 78 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Electronic Arts by 11.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the game software company's stock worth $119,000 after buying an additional 81 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Electronic Arts by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 3,761 shares of the game software company's stock valued at $550,000 after acquiring an additional 82 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Electronic Arts by 1.7% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,837 shares of the game software company's stock valued at $708,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 90.23% of the company's stock.

Remove Ads

Insider Buying and Selling at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total value of $215,175.00. Following the completion of the transaction, the executive vice president now owns 23,386 shares of the company's stock, valued at $3,354,721.70. This represents a 6.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Wilson sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $142.68, for a total transaction of $713,400.00. Following the completion of the sale, the chief executive officer now owns 42,615 shares in the company, valued at $6,080,308.20. This represents a 10.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,000 shares of company stock valued at $3,015,990. 0.22% of the stock is currently owned by corporate insiders.

Electronic Arts Price Performance

NASDAQ:EA traded up $3.54 during trading hours on Friday, reaching $142.93. 3,116,905 shares of the company were exchanged, compared to its average volume of 2,617,577. The business has a 50 day moving average of $136.45 and a 200 day moving average of $144.34. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $37.25 billion, a P/E ratio of 36.37, a P/E/G ratio of 3.58 and a beta of 0.79.

Electronic Arts (NASDAQ:EA - Get Free Report) last released its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Research analysts forecast that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Announces Dividend

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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.53%. The ex-dividend date was Wednesday, February 26th. Electronic Arts's payout ratio is presently 19.34%.

Analyst Ratings Changes

A number of research firms have weighed in on EA. UBS Group raised their price target on Electronic Arts from $138.00 to $152.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Wedbush reissued an "outperform" rating and issued a $173.00 target price on shares of Electronic Arts in a research note on Thursday, January 23rd. Ascendiant Capital Markets upped their price target on shares of Electronic Arts from $157.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. BMO Capital Markets decreased their price objective on shares of Electronic Arts from $145.00 to $142.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus dropped their target price on shares of Electronic Arts from $167.00 to $159.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $155.30.

About Electronic Arts

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.