Modera Wealth Management LLC Lowers Stake in Electronic Arts Inc. $EA

Modera Wealth Management LLC reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 28.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,397 shares of the game software company’s stock after selling 3,728 shares during the period. Modera Wealth Management LLC’s holdings in Electronic Arts were worth $1,916,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EA. Brighton Jones LLC lifted its stake in Electronic Arts by 9.4% during the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after purchasing an additional 294 shares during the last quarter. Empowered Funds LLC increased its position in shares of Electronic Arts by 167.0% during the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after purchasing an additional 12,076 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Electronic Arts by 150.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after buying an additional 190 shares in the last quarter. Jump Financial LLC bought a new stake in Electronic Arts in the 2nd quarter worth approximately $2,323,000. Finally, NewEdge Advisors LLC lifted its position in Electronic Arts by 96.4% in the 2nd quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after buying an additional 1,505 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on EA shares. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Citigroup lifted their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $196.64.

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the completion of the transaction, the insider directly owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. This represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the sale, the insider owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. This represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 31,206 shares of company stock valued at $6,292,058. Company insiders own 0.24% of the company’s stock.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $208.90 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 52 week low of $146.97 and a 52 week high of $209.19. The firm’s fifty day moving average is $203.38 and its 200 day moving average is $202.63. The company has a market cap of $52.38 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 2.34 and a beta of 0.64.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 27th. Electronic Arts’s dividend payout ratio (DPR) is 21.78%.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.