Diametric Capital LP Sells 692 Shares of Electronic Arts Inc. (NASDAQ:EA)

Diametric Capital LP trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 22.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,359 shares of the game software company’s stock after selling 692 shares during the period. Diametric Capital LP’s holdings in Electronic Arts were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EA. Swedbank AB boosted its holdings in Electronic Arts by 6.3% in the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock valued at $235,224,000 after acquiring an additional 95,190 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in shares of Electronic Arts during the 4th quarter valued at about $217,000. Charles Schwab Investment Management Inc. increased its position in shares of Electronic Arts by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company’s stock valued at $213,089,000 after buying an additional 36,153 shares during the period. Fisher Funds Management LTD bought a new position in Electronic Arts in the fourth quarter worth about $3,730,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in Electronic Arts in the fourth quarter worth about $13,845,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Price Performance

NASDAQ EA opened at $145.67 on Wednesday. The stock has a market capitalization of $37.96 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The business’s fifty day moving average price is $133.15 and its 200-day moving average price is $144.63.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. On average, equities analysts predict that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.76 dividend on an annualized basis and a yield of 0.52%. Electronic Arts’s dividend payout ratio is currently 19.34%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Moffett Nathanson raised Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Friday, January 31st. Wedbush reiterated an “outperform” rating and issued a $173.00 price objective on shares of Electronic Arts in a report on Thursday, January 23rd. Robert W. Baird dropped their target price on shares of Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Ascendiant Capital Markets increased their price target on shares of Electronic Arts from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, Citigroup dropped their price objective on shares of Electronic Arts from $163.00 to $139.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $155.65.

Insiders Place Their Bets

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $142.50, for a total value of $712,500.00. Following the completion of the sale, the chief executive officer now owns 32,615 shares in the company, valued at $4,647,637.50. This represents a 13.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $130.11, for a total value of $130,110.00. Following the transaction, the chief financial officer now directly owns 9,516 shares in the company, valued at approximately $1,238,126.76. The trade was a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,000 shares of company stock worth $3,018,560. Company insiders own 0.22% of the company’s stock.

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.