Electronic Arts Inc. (NASDAQ:EA) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its stake in Electronic Arts Inc. (NASDAQ:EA) by 19.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,103 shares of the game software company’s stock after selling 8,500 shares during the period. iA Global Asset Management Inc.’s holdings in Electronic Arts were worth $5,030,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Electronic Arts by 14.7% during the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock worth $3,868,620,000 after purchasing an additional 3,727,251 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Electronic Arts by 496.9% during the 1st 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 buying an additional 2,090,504 shares in the last quarter. Norges Bank acquired a new stake in shares of Electronic Arts in the 4th quarter valued at approximately $281,054,000. Swedbank AB purchased a new stake in shares of Electronic Arts in the first quarter valued at approximately $201,935,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in Electronic Arts in the first quarter worth $189,055,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $132.88, for a total value of $106,304.00. Following the sale, the insider now owns 39,374 shares of the company’s stock, valued at approximately $5,232,017.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Stuart Canfield sold 3,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the transaction, the chief financial officer now directly owns 7,553 shares of the company’s stock, valued at approximately $1,095,185. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $132.88, for a total value of $106,304.00. Following the sale, the insider now directly owns 39,374 shares in the company, valued at approximately $5,232,017.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,870 shares of company stock valued at $3,918,242. Company insiders own 0.22% of the company’s stock.

Electronic Arts Trading Up 1.0 %

NASDAQ:EA opened at $151.82 on Friday. The company has a market cap of $40.34 billion, a PE ratio of 32.44, a P/E/G ratio of 2.28 and a beta of 0.79. The business’s 50 day moving average is $144.97 and its two-hundred day moving average is $137.38. The company has a quick ratio of 1.37, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $153.51.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 annualized dividend and a yield of 0.50%. Electronic Arts’s payout ratio is 16.24%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EA shares. The Goldman Sachs Group increased their price target on shares of Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Electronic Arts from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Benchmark upped their price target on Electronic Arts from $153.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group began coverage on Electronic Arts in a research note on Thursday, July 11th. They issued a “buy” rating and a $165.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Electronic Arts from $153.00 to $150.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.28.

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.