Brighton Jones LLC Acquires New Position in Electronic Arts Inc. (NASDAQ:EA)

Brighton Jones LLC bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,229 shares of the game software company’s stock, valued at approximately $450,000.

A number of other hedge funds also recently added to or reduced their stakes in EA. Janney Montgomery Scott LLC boosted its stake in shares of Electronic Arts by 79.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 12,479 shares of the game software company’s stock valued at $1,707,000 after buying an additional 5,525 shares during the period. PNC Financial Services Group Inc. lifted its stake in Electronic Arts by 4.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 39,723 shares of the game software company’s stock worth $5,434,000 after acquiring an additional 1,553 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Electronic Arts by 6.4% during the 4th quarter. Corient Private Wealth LLC now owns 67,939 shares of the game software company’s stock worth $9,295,000 after acquiring an additional 4,112 shares in the last quarter. TCW Group Inc. increased its position in shares of Electronic Arts by 14.3% in the 4th quarter. TCW Group Inc. now owns 17,507 shares of the game software company’s stock valued at $2,395,000 after purchasing an additional 2,193 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Electronic Arts by 4.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 78,231 shares of the game software company’s stock valued at $10,703,000 after purchasing an additional 3,561 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 38,574 shares of the company’s stock, valued at $5,389,173.54. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.71, for a total value of $111,768.00. Following the completion of the transaction, the insider now owns 38,574 shares in the company, valued at $5,389,173.54. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Stuart Canfield sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the chief financial officer now owns 7,553 shares in the company, valued at $1,095,185. 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 three months. 0.22% of the stock is currently owned by corporate insiders.

Electronic Arts Stock Performance

Shares of EA opened at $139.55 on Friday. The stock has a market capitalization of $37.08 billion, a P/E ratio of 29.82, 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. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $153.51. The company’s fifty day moving average is $146.15 and its two-hundred day moving average is $137.71.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. On average, sell-side analysts predict that Electronic Arts Inc. will post 5.89 earnings per share for the current year.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a $0.19 dividend. 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 is currently 16.24%.

Wall Street Analyst Weigh In

EA has been the subject of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $163.00 target price on shares of Electronic Arts in a research note on Wednesday. UBS Group increased their price objective on Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Morgan Stanley reissued an “equal weight” rating and set a $150.00 target price on shares of Electronic Arts in a research report on Wednesday. Oppenheimer upped their price target on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Jefferies Financial Group started coverage on shares of Electronic Arts in a report on Thursday, July 11th. They set a “buy” rating and a $165.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.94.

Electronic Arts 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.