Coastline Trust Co reduced its stake in Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,220 shares of the game software company's stock after selling 585 shares during the period. Coastline Trust Co's holdings in Electronic Arts were worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Electronic Arts by 1.9% in the 4th quarter. BlackRock Inc. now owns 23,528,573 shares of the game software company's stock valued at $3,103,418,000 after purchasing an additional 436,684 shares during the period. Vanguard Group Inc. grew its position in Electronic Arts by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 21,802,596 shares of the game software company's stock worth $2,758,246,000 after acquiring an additional 149,746 shares during the last quarter. Wellington Management Group LLP grew its position in Electronic Arts by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,792,775 shares of the game software company's stock worth $1,491,902,000 after acquiring an additional 1,859,869 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Electronic Arts by 3.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,078,541 shares of the game software company's stock worth $1,401,546,000 after acquiring an additional 409,382 shares during the last quarter. Finally, Capital International Investors grew its position in Electronic Arts by 2.3% during the 1st quarter. Capital International Investors now owns 5,335,855 shares of the game software company's stock worth $675,103,000 after acquiring an additional 122,171 shares during the last quarter. 90.65% of the stock is currently owned by institutional investors.
Get Electronic Arts alerts:Insider Activity
In other news, CEO Andrew Wilson sold 10,000 shares of the firm's stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $131.50, for a total value of $1,315,000.00. Following the completion of the transaction, the chief executive officer now owns 31,742 shares in the company, valued at approximately $4,174,073. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Andrew Wilson sold 10,000 shares of Electronic Arts stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $131.50, for a total transaction of $1,315,000.00. Following the completion of the transaction, the chief executive officer now owns 31,742 shares in the company, valued at $4,174,073. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Laura Miele sold 1,500 shares of Electronic Arts stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $130.77, for a total value of $196,155.00. Following the transaction, the chief operating officer now owns 33,700 shares of the company's stock, valued at approximately $4,406,949. The disclosure for this sale can be found here. Insiders sold 72,144 shares of company stock worth $9,475,931 in the last quarter. Corporate insiders own 0.37% of the company's stock.
Electronic Arts Stock Down 1.5 %
EA stock traded down $1.76 during trading hours on Friday, reaching $115.71. 2,189,245 shares of the stock were exchanged, compared to its average volume of 1,886,768. The firm's 50-day moving average is $126.93 and its 200-day moving average is $126.98. The company has a market cap of $32.17 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 2.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 1.24. Electronic Arts Inc. has a 12 month low of $109.24 and a 12 month high of $146.72.Electronic Arts Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Tuesday, August 30th. Electronic Arts's payout ratio is 24.05%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on EA shares. StockNews.com upgraded Electronic Arts from a "hold" rating to a "buy" rating in a research report on Wednesday, June 22nd. Atlantic Securities lowered Electronic Arts from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $140.00 to $130.00 in a research report on Thursday, September 15th. They noted that the move was a valuation call. Credit Suisse Group decreased their price target on Electronic Arts from $159.00 to $154.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 3rd. Wells Fargo & Company upped their price objective on Electronic Arts from $145.00 to $155.00 and gave the stock a "maintains" rating in a report on Thursday, August 4th. Finally, The Goldman Sachs Group upped their price objective on Electronic Arts from $125.00 to $133.00 and gave the stock a "neutral" rating in a report on Thursday, June 9th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Electronic Arts has an average rating of "Moderate Buy" and an average target price of $150.64.
About Electronic Arts
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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.
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