126,933 Shares in Electronic Arts Inc. (NASDAQ:EA) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 4th quarter, Holdings Channel.com reports. The firm purchased 126,933 shares of the game software company’s stock, valued at approximately $18,570,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EA. Pathstone Holdings LLC raised its stake in Electronic Arts by 3.6% during the 3rd quarter. Pathstone Holdings LLC now owns 23,622 shares of the game software company’s stock worth $3,388,000 after acquiring an additional 821 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Electronic Arts by 20.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 50,354 shares of the game software company’s stock worth $7,223,000 after acquiring an additional 8,542 shares in the last quarter. Commerce Bank raised its stake in Electronic Arts by 1.8% during the 3rd quarter. Commerce Bank now owns 6,596 shares of the game software company’s stock worth $946,000 after acquiring an additional 116 shares in the last quarter. Pacer Advisors Inc. raised its stake in Electronic Arts by 23.2% during the 3rd quarter. Pacer Advisors Inc. now owns 72,228 shares of the game software company’s stock worth $10,360,000 after acquiring an additional 13,623 shares in the last quarter. Finally, Great Valley Advisor Group Inc. raised its stake in Electronic Arts by 7.0% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 1,715 shares of the game software company’s stock worth $246,000 after acquiring an additional 112 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Stock Up 0.7 %

EA stock opened at $144.30 on Monday. The company has a market cap of $37.61 billion, a P/E ratio of 36.72, a P/E/G ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The company’s 50-day moving average price is $132.76 and its 200 day moving average price is $144.62. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share (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%. On average, research analysts expect that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Wednesday, February 26th. Electronic Arts’s payout ratio is currently 19.34%.

Wall Street Analyst Weigh In

Several brokerages recently commented on EA. Raymond James lowered shares of Electronic Arts from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. Oppenheimer lowered their price objective 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. BMO Capital Markets lowered their price objective on shares of Electronic Arts from $145.00 to $142.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Moffett Nathanson raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Friday, January 31st. Finally, StockNews.com downgraded shares of Electronic Arts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 5th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $154.78.

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.03, for a total value of $122,030.00. Following the completion of the transaction, the insider now owns 28,216 shares of the company’s stock, valued at $3,443,198.48. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $142.50, for a total transaction of $712,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,615 shares of the company’s stock, valued at approximately $4,647,637.50. This represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,000 shares of company stock worth $3,166,740. 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.