Renaissance Technologies LLC Cuts Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Renaissance Technologies LLC cut its holdings in Electronic Arts Inc. (NASDAQ:EA) by 79.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 221,064 shares of the game software company’s stock after selling 877,200 shares during the quarter. Renaissance Technologies LLC owned 0.08% of Electronic Arts worth $30,801,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. North Star Investment Management Corp. boosted its stake in Electronic Arts by 333.3% during the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after buying an additional 150 shares during the period. Cape Investment Advisory Inc. boosted its stake in Electronic Arts by 102.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after buying an additional 101 shares during the period. Redmont Wealth Advisors LLC purchased a new position in Electronic Arts during the first quarter worth $27,000. Opal Wealth Advisors LLC purchased a new position in Electronic Arts during the second quarter worth $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in Electronic Arts during the first quarter worth $30,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EA has been the subject of a number of recent analyst reports. Robert W. Baird reissued an “outperform” rating and set a $170.00 target price on shares of Electronic Arts in a research note on Thursday. Jefferies Financial Group initiated coverage on shares of Electronic Arts in a research note on Thursday, July 11th. They set a “buy” rating and a $165.00 target price for the company. Wedbush boosted their target price on shares of Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their target price on shares of Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com raised shares of Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.94.

Insider Activity

In other news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.71, for a total transaction of $111,768.00. Following the transaction, the insider now owns 38,574 shares in the company, valued at $5,389,173.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related 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 value of $350,650.00. Following the sale, the chief executive officer now owns 61,747 shares in the company, valued at $8,660,634.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.71, for a total value of $111,768.00. Following the completion of the sale, the insider now owns 38,574 shares in the company, valued at approximately $5,389,173.54. The disclosure for this sale can be found here. Insiders have sold a total of 28,570 shares of company stock worth $4,183,508 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $140.74 on Friday. The company has a market capitalization of $37.40 billion, a PE ratio of 30.07, a P/E/G ratio of 1.97 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45. The company has a 50-day simple moving average of $146.36 and a two-hundred day simple moving average of $137.68. Electronic Arts Inc. has a one year low of $117.47 and a one year high of $153.51.

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

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.54%. Electronic Arts’s dividend payout ratio (DPR) is currently 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.