DRW Securities LLC Sells 7,038 Shares of Electronic Arts Inc. (NASDAQ:EA)

DRW Securities LLC trimmed its holdings in Electronic Arts Inc. (NASDAQ:EA) by 46.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,120 shares of the game software company’s stock after selling 7,038 shares during the quarter. DRW Securities LLC’s holdings in Electronic Arts were worth $1,165,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Huntington National Bank grew its stake in shares of Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock valued at $36,993,000 after purchasing an additional 234,098 shares during the period. Park Avenue Securities LLC grew its stake in shares of Electronic Arts by 34.9% during the 2nd quarter. Park Avenue Securities LLC now owns 14,227 shares of the game software company’s stock valued at $1,982,000 after purchasing an additional 3,681 shares during the period. Greenwood Capital Associates LLC bought a new stake in shares of Electronic Arts during the 3rd quarter valued at about $5,597,000. Chesapeake Capital Corp IL bought a new stake in shares of Electronic Arts during the 3rd quarter valued at about $950,000. Finally, Czech National Bank grew its stake in shares of Electronic Arts by 8.3% during the 2nd quarter. Czech National Bank now owns 46,360 shares of the game software company’s stock valued at $6,459,000 after purchasing an additional 3,554 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total transaction of $832,350.00. Following the transaction, the chief executive officer now owns 52,615 shares of the company’s stock, valued at approximately $8,758,819.05. The trade was a 8.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 value of $1,106,935.44. Following the completion of the transaction, the insider now directly owns 31,190 shares in the company, valued at $4,675,692.90. This trade represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,884 shares of company stock valued at $4,404,435 in the last quarter. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $160.00 price objective (up from $154.00) on shares of Electronic Arts in a research report on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their price objective on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Roth Mkm lifted their price objective on Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $165.37.

Electronic Arts Stock Performance

NASDAQ:EA opened at $164.14 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. Electronic Arts Inc. has a 1 year low of $124.92 and a 1 year high of $168.50. The stock’s 50 day simple moving average is $149.71 and its two-hundred day simple moving average is $144.23. The company has a market cap of $43.05 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 2.18 and a beta of 0.78.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

Electronic Arts Company 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.