Electronic Arts (NASDAQ:EA) Sets New 1-Year Low Following Insider Selling

Electronic Arts Inc. (NASDAQ:EA)’s share price reached a new 52-week low on Thursday after an insider sold shares in the company. The company traded as low as $117.56 and last traded at $119.27, with a volume of 844228 shares traded. The stock had previously closed at $142.35.

Specifically, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $142.68, for a total transaction of $713,400.00. Following the completion of the sale, the chief executive officer now owns 42,615 shares in the company, valued at approximately $6,080,308.20. This represents a 10.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Several research analysts have weighed in on EA shares. Wedbush reissued an “outperform” rating and issued a $173.00 price objective on shares of Electronic Arts in a research report on Thursday. DZ Bank raised Electronic Arts from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $135.00 to $177.00 in a research report on Thursday, October 31st. Raymond James cut Electronic Arts from an “outperform” rating to a “market perform” rating in a research report on Thursday. Stifel Nicolaus cut their price objective on Electronic Arts from $167.00 to $159.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, UBS Group boosted their price objective on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Electronic Arts presently has a consensus rating of “Moderate Buy” and an average price target of $159.79.

Electronic Arts Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $31.10 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The firm has a 50-day moving average price of $153.33 and a 200 day moving average price of $148.99.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Wednesday, November 27th. Electronic Arts’s dividend payout ratio is presently 19.54%.

Institutional Investors Weigh In On Electronic Arts

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in Electronic Arts by 28.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the game software company’s stock worth $209,000 after buying an additional 306 shares during the period. Public Sector Pension Investment Board lifted its holdings in Electronic Arts by 97.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,969 shares of the game software company’s stock worth $1,110,000 after buying an additional 3,936 shares during the period. Squarepoint Ops LLC lifted its holdings in Electronic Arts by 132.9% in the 2nd quarter. Squarepoint Ops LLC now owns 116,458 shares of the game software company’s stock worth $16,226,000 after buying an additional 66,449 shares during the period. DoubleLine ETF Adviser LP lifted its holdings in Electronic Arts by 11.7% in the 2nd quarter. DoubleLine ETF Adviser LP now owns 31,127 shares of the game software company’s stock worth $4,337,000 after buying an additional 3,256 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Electronic Arts by 43.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock worth $193,727,000 after buying an additional 420,382 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

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.