Electronic Arts Inc. (NASDAQ:EA) Stake Lessened by ProShare Advisors LLC

ProShare Advisors LLC decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 9.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,029 shares of the game software company’s stock after selling 29,568 shares during the quarter. ProShare Advisors LLC owned 0.10% of Electronic Arts worth $38,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of EA. Vanguard Group Inc. lifted its position in Electronic Arts by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock worth $3,868,620,000 after buying an additional 3,727,251 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Electronic Arts by 496.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after acquiring an additional 2,090,504 shares during the last quarter. Swedbank AB purchased a new stake in shares of Electronic Arts during the first quarter worth $201,935,000. Jericho Capital Asset Management L.P. acquired a new stake in Electronic Arts during the first quarter valued at $189,055,000. Finally, Manning & Napier Advisors LLC purchased a new position in Electronic Arts in the second quarter valued at about $188,159,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of Electronic Arts stock opened at $139.55 on Monday. Electronic Arts Inc. has a twelve month low of $117.47 and a twelve month high of $153.51. 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 firm has a market cap of $37.08 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The firm’s 50-day simple moving average is $146.15 and its 200-day simple moving average is $137.73.

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

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.54%. Electronic Arts’s payout ratio is presently 16.24%.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were 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 $8,660,634.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction 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 owns 61,747 shares in the company, valued at $8,660,634.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stuart Canfield sold 1,500 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $141.01, for a total value of $211,515.00. Following the completion of the sale, the chief financial officer now owns 10,553 shares of the company’s stock, valued at $1,488,078.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,570 shares of company stock worth $4,183,508. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

EA has been the subject of a number of recent research reports. Benchmark reaffirmed a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a research note on Wednesday, September 18th. Robert W. Baird reissued an “outperform” rating and issued a $170.00 target price on shares of Electronic Arts in a research report on Thursday. Raymond James increased their price target on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Electronic Arts from $148.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $154.00 price objective on shares of Electronic Arts in a report on Tuesday, July 30th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.94.

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.