Parallel Advisors LLC Sells 218 Shares of Electronic Arts Inc. (NASDAQ:EA)

Parallel Advisors LLC lessened its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,193 shares of the game software company’s stock after selling 218 shares during the period. Parallel Advisors LLC’s holdings in Electronic Arts were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Electronic Arts by 82.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 25,074 shares of the game software company’s stock worth $3,327,000 after purchasing an additional 11,343 shares during the last quarter. FORA Capital LLC raised its position in shares of Electronic Arts by 209.7% in the 1st quarter. FORA Capital LLC now owns 45,985 shares of the game software company’s stock worth $6,101,000 after purchasing an additional 31,136 shares during the last quarter. Duality Advisers LP purchased a new position in shares of Electronic Arts in the 1st quarter worth about $1,711,000. Eaton Financial Holdings Company LLC purchased a new position in shares of Electronic Arts in the 4th quarter worth about $1,259,000. Finally, Scotia Capital Inc. raised its position in Electronic Arts by 99.4% in the 4th quarter. Scotia Capital Inc. now owns 17,338 shares of the game software company’s stock worth $2,372,000 after buying an additional 8,644 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

EA has been the subject of a number of recent analyst reports. Oppenheimer boosted their target price on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. UBS Group boosted their target price on Electronic Arts from $143.00 to $155.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Citigroup lowered Electronic Arts from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $148.00 to $161.00 in a research report on Monday, July 15th. Raymond James boosted their target price on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on Electronic Arts from $148.00 to $155.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.28.

Insiders Place Their Bets

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $146.58, for a total value of $219,870.00. Following the completion of the transaction, the executive vice president now directly owns 26,360 shares in the company, valued at approximately $3,863,848.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $140.26, for a total transaction of $350,650.00. Following the sale, the chief executive officer now directly owns 61,747 shares of the company’s stock, valued at approximately $8,660,634.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $146.58, for a total value of $219,870.00. Following the sale, the executive vice president now directly owns 26,360 shares in the company, valued at $3,863,848.80. The disclosure for this sale can be found here. Insiders sold 28,570 shares of company stock worth $4,183,508 in the last three months. 0.22% of the stock is owned by company insiders.

Electronic Arts Trading Down 2.7 %

Shares of NASDAQ:EA opened at $142.59 on Wednesday. The stock has a 50 day moving average of $146.40 and a 200 day moving average of $137.65. The company has a market cap of $37.89 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12-month low of $117.47 and a 12-month high of $153.51.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.21 billion. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. As a group, equities research analysts expect that Electronic Arts Inc. will post 5.89 EPS for the current year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 annualized dividend and a yield of 0.53%. Electronic Arts’s payout ratio is 16.24%.

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.