Electronic Arts Inc. (NASDAQ:EA) Shares Sold by SouthState Corp

SouthState Corp lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 10.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,171 shares of the game software company’s stock after selling 380 shares during the quarter. SouthState Corp’s holdings in Electronic Arts were worth $464,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in EA. Pinnacle Bancorp Inc. raised its holdings in shares of Electronic Arts by 141.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock worth $29,000 after acquiring an additional 117 shares during the period. Whipplewood Advisors LLC acquired a new stake in Electronic Arts during the fourth quarter worth about $32,000. SBI Securities Co. Ltd. purchased a new position in Electronic Arts during the fourth quarter worth about $41,000. Larson Financial Group LLC boosted its holdings in Electronic Arts by 31.8% in the 3rd quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock valued at $42,000 after purchasing an additional 70 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Electronic Arts in the 4th quarter valued at approximately $42,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Oppenheimer reduced their price target on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 21st. Raymond James lowered Electronic Arts from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. BMO Capital Markets cut their price objective on Electronic Arts from $145.00 to $142.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Citigroup decreased their target price on shares of Electronic Arts from $163.00 to $139.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Bank of America lifted their price target on shares of Electronic Arts from $130.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Hold” and an average price target of $154.78.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $148.00, for a total value of $740,000.00. Following the transaction, the chief executive officer now directly owns 47,615 shares of the company’s stock, valued at $7,047,020. This trade represents a 9.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $147.57, for a total transaction of $147,570.00. Following the completion of the sale, the insider now directly owns 29,216 shares of the company’s stock, valued at approximately $4,311,405.12. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,000 shares of company stock valued at $3,194,240. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Trading Up 3.0 %

NASDAQ EA opened at $142.90 on Tuesday. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The firm has a 50 day moving average of $132.81 and a two-hundred day moving average of $144.80. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $37.24 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. As a group, research analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. Electronic Arts’s payout ratio is currently 19.34%.

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.