Electronic Arts Inc. (NASDAQ:EA) Shares Acquired by Redwood Investment Management LLC

Redwood Investment Management LLC grew its stake in Electronic Arts Inc. (NASDAQ:EA) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,378 shares of the game software company’s stock after purchasing an additional 1,085 shares during the quarter. Redwood Investment Management LLC’s holdings in Electronic Arts were worth $1,510,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of EA. North Star Investment Management Corp. grew its position in shares of Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after buying an additional 150 shares during the last quarter. Cape Investment Advisory Inc. grew its position in Electronic Arts by 102.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in Electronic Arts in the 1st quarter worth about $27,000. Larson Financial Group LLC bought a new position in Electronic Arts in the 4th quarter worth about $30,000. Finally, YHB Investment Advisors Inc. bought a new position in Electronic Arts in the 1st quarter worth about $30,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

EA traded up $1.82 during midday trading on Wednesday, hitting $150.94. The company had a trading volume of 4,475,102 shares, compared to its average volume of 2,178,597. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $40.11 billion, a PE ratio of 32.25, a P/E/G ratio of 2.32 and a beta of 0.79. Electronic Arts Inc. has a twelve month low of $117.47 and a twelve month high of $153.51. The firm’s 50-day simple moving average is $139.61 and its 200-day simple moving average is $135.82.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.17). Electronic Arts had a return on equity of 18.81% and a net margin of 16.83%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.78 billion. Equities research analysts predict that Electronic Arts Inc. will post 5.75 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.50%. Electronic Arts’s dividend payout ratio is currently 16.24%.

Insider Activity at Electronic Arts

In related news, CAO Eric Charles Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total transaction of $401,250.00. Following the completion of the transaction, the chief accounting officer now owns 7,458 shares in the company, valued at $997,507.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Electronic Arts news, CAO Eric Charles Kelly sold 3,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total value of $401,250.00. Following the transaction, the chief accounting officer now owns 7,458 shares of the company’s stock, valued at $997,507.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $142.42, for a total transaction of $356,050.00. Following the sale, the chief executive officer now directly owns 59,247 shares of the company’s stock, valued at approximately $8,437,957.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,239 shares of company stock worth $3,197,469. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group started coverage on shares of Electronic Arts in a research report on Thursday, July 11th. They issued a “buy” rating and a $165.00 target price for the company. UBS Group raised their target price on shares of Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Electronic Arts from $153.00 to $150.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Wedbush raised their target price on shares of Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Bank of America raised their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average target price of $158.95.

Electronic Arts 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.