Geode Capital Management LLC Sells 104,834 Shares of Electronic Arts Inc. $EA

Geode Capital Management LLC reduced its position in Electronic Arts Inc. (NASDAQ:EA) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,644,155 shares of the game software company’s stock after selling 104,834 shares during the period. Geode Capital Management LLC owned about 2.66% of Electronic Arts worth $1,057,333,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EA. denkapparat Operations GmbH raised its stake in shares of Electronic Arts by 144.1% in the second quarter. denkapparat Operations GmbH now owns 5,756 shares of the game software company’s stock worth $919,000 after purchasing an additional 3,398 shares during the last quarter. Tobam boosted its position in shares of Electronic Arts by 50.4% during the second quarter. Tobam now owns 37,270 shares of the game software company’s stock valued at $5,952,000 after buying an additional 12,497 shares during the last quarter. Wealth Alliance LLC increased its holdings in Electronic Arts by 9.3% in the 2nd quarter. Wealth Alliance LLC now owns 3,651 shares of the game software company’s stock worth $583,000 after buying an additional 310 shares in the last quarter. Forsta AP Fonden increased its holdings in Electronic Arts by 9.4% in the 2nd quarter. Forsta AP Fonden now owns 103,500 shares of the game software company’s stock worth $16,529,000 after buying an additional 8,900 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its position in Electronic Arts by 25.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 753,635 shares of the game software company’s stock worth $120,356,000 after buying an additional 152,141 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Electronic Arts in a report on Wednesday, October 8th. Arete upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 price objective on the stock in a research report on Tuesday, August 5th. TD Cowen cut shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Argus set a $210.00 target price on shares of Electronic Arts in a research report on Thursday, October 30th. Finally, Wells Fargo & Company set a $168.00 price target on Electronic Arts and gave the company an “equal weight” rating in a report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $181.64.

Electronic Arts Trading Down 0.3%

NASDAQ:EA opened at $201.34 on Friday. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $203.75. The business has a fifty day moving average price of $191.57 and a 200-day moving average price of $168.36. The firm has a market capitalization of $50.22 billion, a price-to-earnings ratio of 58.87, a price-to-earnings-growth ratio of 3.04 and a beta of 0.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.07). The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.88 billion. Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.11 EPS. Sell-side analysts forecast that Electronic Arts Inc. will post 4.71 EPS for the current year.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s payout ratio is currently 22.22%.

Insiders Place Their Bets

In other news, EVP Jacob J. Schatz sold 1,200 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $171.52, for a total transaction of $205,824.00. Following the sale, the executive vice president directly owned 26,080 shares in the company, valued at $4,473,241.60. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stuart Canfield sold 6,500 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the completion of the transaction, the chief financial officer directly owned 5,140 shares of the company’s stock, valued at $1,045,476. This represents a 55.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 38,200 shares of company stock valued at $7,149,882. Insiders own 0.24% of the company’s stock.

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.