Insider Selling: Electronic Arts (NASDAQ:EA) CFO Sells 1,500 Shares of Stock

Electronic Arts Inc. (NASDAQ:EA) CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the sale, the chief financial officer owned 25,991 shares of the company’s stock, valued at $5,233,547.76. The trade was a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Electronic Arts Stock Performance

Shares of Electronic Arts stock traded down $0.90 on Friday, reaching $200.97. The stock had a trading volume of 2,333,913 shares, compared to its average volume of 2,255,380. The business’s 50-day moving average price is $201.93 and its two-hundred day moving average price is $202.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. Electronic Arts Inc. has a fifty-two week low of $141.19 and a fifty-two week high of $204.88. The stock has a market cap of $50.39 billion, a P/E ratio of 57.58, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, May 27th. Electronic Arts’s payout ratio is presently 21.78%.

Hedge Funds Weigh In On Electronic Arts

A number of institutional investors and hedge funds have recently bought and sold shares of EA. Ascentis Independent Advisors bought a new position in Electronic Arts during the first quarter worth $27,000. Ameriflex Group Inc. increased its position in Electronic Arts by 100.0% during the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock worth $28,000 after acquiring an additional 69 shares during the period. MV Capital Management Inc. bought a new position in Electronic Arts during the fourth quarter worth $28,000. Oakworth Capital Inc. bought a new position in Electronic Arts during the third quarter worth $30,000. Finally, Asset Planning Inc bought a new position in Electronic Arts during the first quarter worth $32,000. Institutional investors own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EA shares. Citigroup boosted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. UBS Group restated a “neutral” rating on shares of Electronic Arts in a research note on Wednesday, February 4th. Finally, Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $196.64.

About Electronic Arts

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.