Pacer Advisors Inc. Sells 1,502 Shares of Electronic Arts Inc. (NASDAQ:EA)

Pacer Advisors Inc. cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,605 shares of the game software company’s stock after selling 1,502 shares during the quarter. Pacer Advisors Inc.’s holdings in Electronic Arts were worth $8,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EA. Cullen Frost Bankers Inc. increased its stake in Electronic Arts by 2.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock valued at $394,000 after purchasing an additional 79 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Electronic Arts by 23.5% in the second quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock worth $69,000 after purchasing an additional 94 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Electronic Arts by 4.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock valued at $291,000 after purchasing an additional 97 shares in the last quarter. Claro Advisors LLC boosted its position in shares of Electronic Arts by 5.6% during the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock valued at $250,000 after buying an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Electronic Arts by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,909 shares of the game software company’s stock worth $2,913,000 after buying an additional 100 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

Insider Transactions at Electronic Arts

In other news, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the sale, the insider now owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Stuart Canfield sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the chief financial officer now owns 7,553 shares in the company, valued at $1,095,185. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the sale, the insider now owns 31,190 shares of the company’s stock, valued at $4,675,692.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,570 shares of company stock valued at $3,621,343. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EA. The Goldman Sachs Group upped their target price on shares of Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Citigroup lowered shares of Electronic Arts from a “buy” rating to a “neutral” rating and increased their price objective for the company from $148.00 to $161.00 in a research note on Monday, July 15th. 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 note on Wednesday, July 31st. Bank of America increased their price target on Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group began coverage on Electronic Arts in a research report on Thursday, July 11th. They issued 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, Electronic Arts has an average rating of “Moderate Buy” and an average price target of $161.94.

Electronic Arts Stock Up 1.1 %

Shares of NASDAQ EA opened at $141.07 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. The company has a market cap of $37.49 billion, a P/E ratio of 30.14, a P/E/G ratio of 1.97 and a beta of 0.79. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $153.51. The business has a 50-day simple moving average of $146.07 and a two-hundred day simple moving average of $137.77.

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

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given 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 yield of 0.54%. Electronic Arts’s payout ratio is presently 16.24%.

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.